Retirement plan

THE IOWA CLINIC 401(K) PROFIT SHARING PLAN

Name: THE IOWA CLINIC, P.C. - THE IOWA CLINIC 401(K) PROFIT SHARING PLAN (2020) Form 5500
Creator: THE IOWA CLINIC, P.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE IOWA CLINIC 401(K) PROFIT SHARING PLAN, THE IOWA CLINIC, P.C.

THE IOWA CLINIC, P.C.EIN 42-1420077Plan #001PY 2020

5950 UNIVERSITY AVENUE, STE 331 - WEST DES MOINES, IA 502668289515-875-9129iowaclinic.comLinkedIn501-1000 employeeshospital & health care

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$278.8M

-10.4% from 2016

Total participants

1,471

-3.0% from 2016

Average account balance

$193,349

-10.7% from 2016

Annual return

13.62%

-10.26 pp from 2016

Benchmarks

See 1,342 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants1,000-4,999

Cohort1,342 peers

Snapshot2020

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$328.90M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$183K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

1,794

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

98.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$22.11M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$18K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+14.50%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$307

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 10 of 16 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY6+ years Filed as: PRINCIPAL LIFE INSURANCE CO Service code 13 · EIN 42-0127290	Contract Administrator	$208,302
FOSTER GROUP6+ years Filed as: FOSTER GROUP, INC. Service code 26 · EIN 42-1361385	Advisory (Participants)	$78,009
MORGAN STANLEY SMITH BARNEY6+ years Filed as: MORGAN STANLEY Service code 19 · EIN 26-4310632 801 GRAND SUITE 3800 · DES MOINES, IA 50309	Securities Custodian	$48,643
UBS FINANCIAL SERVICES INC6+ years Filed as: UBS FINANCIAL SERVICES Service code 27 · EIN 13-2638166 1285 AVENUE OF THE AMERICAS · NEW YORK, NY 10019	Advisory (Plan)	$43,780
NORTHWESTERN MUTUAL INVESTMENT SERV6+ years Filed as: ED MCGILL-NORTHWESTERN MUTUAL Service code 26 · EIN 39-0509570 2300 128TH STREET · DES MOINES, IA 50323	Advisory (Participants)	$42,754
WELLS FARGO BANK, N.A.6+ years Filed as: WELLS FARGO ADVISORS LLC Service code 26 · EIN 56-1354525	Advisory (Participants)	$29,504
WELLS FARGO BANK, N.A.6+ years Filed as: DAVID ARENS - WELLS FARGO, NA Service code 26 · EIN 94-1347393	Advisory (Participants)	$25,843
DANIEL KELLY - DM KELLY & CO6+ years Service code 26 · EIN 42-1439008 3900 INGERSOLL AVENUE, SUITE 300 · DES MOINES, IA 50312	Advisory (Participants)	$22,463
NATIONWIDE4 years Service code 26 · EIN 31-4156860	Advisory (Participants)	$20,469
MERRILL LYNCH PIERCE FENNER & SMITH6+ years Filed as: MERRILL LYNCH Service code 19 · EIN 13-5674085 400 LOCUST STREET, STE 600 · DES MOINES, IA 50309	Securities Custodian	$20,314

Plan features & details

Pension benefit codes2E2F2G2J2K2R3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$357K

$330 / participant

Investment mgmt$357K100.0%

% of EOY assets

0.128%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: DENMAN & COMPANY, LLP
Auditor EIN: 420794029
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$193,349

$56,095+244.7%

$178,510+8.3%

$90,274+114.2%

Participation rate

97.3%

65.6%+31.8pp

81.9%+15.4pp

73.4%+24.0pp

Annual return

13.62%

28.81%-15.2pp

151.13%-137.5pp

53.97%-40.3pp

Employer contribution / active EE

$8,805

$1,572+460.0%

$5,011+75.7%

$2,523+248.9%

Participant deferral / active EE

$6,149

$2,669+130.4%

$5,202+18.2%

$4,231+45.3%

Admin fee / account holder

$247

$101+145.8%

$13,988-98.2%

$114+116.9%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY6+ years

Filed as: PRINCIPAL LIFE INSURANCE CO

Service code 13 · EIN 42-0127290

Contract Administrator

$208,302

FOSTER GROUP6+ years

Filed as: FOSTER GROUP, INC.

Service code 26 · EIN 42-1361385

Advisory (Participants)

$78,009

MORGAN STANLEY SMITH BARNEY6+ years

Filed as: MORGAN STANLEY

Service code 19 · EIN 26-4310632

801 GRAND SUITE 3800 · DES MOINES, IA 50309

Securities Custodian

$48,643

UBS FINANCIAL SERVICES INC6+ years

Filed as: UBS FINANCIAL SERVICES

Service code 27 · EIN 13-2638166

1285 AVENUE OF THE AMERICAS · NEW YORK, NY 10019

Advisory (Plan)

$43,780

NORTHWESTERN MUTUAL INVESTMENT SERV6+ years

Filed as: ED MCGILL-NORTHWESTERN MUTUAL

Service code 26 · EIN 39-0509570

2300 128TH STREET · DES MOINES, IA 50323

Advisory (Participants)

$42,754

WELLS FARGO BANK, N.A.6+ years

Filed as: WELLS FARGO ADVISORS LLC

Service code 26 · EIN 56-1354525

Advisory (Participants)

$29,504

WELLS FARGO BANK, N.A.6+ years

Filed as: DAVID ARENS - WELLS FARGO, NA

Service code 26 · EIN 94-1347393

Advisory (Participants)

$25,843

DANIEL KELLY - DM KELLY & CO6+ years

Service code 26 · EIN 42-1439008

3900 INGERSOLL AVENUE, SUITE 300 · DES MOINES, IA 50312

Advisory (Participants)

$22,463

NATIONWIDE4 years

Service code 26 · EIN 31-4156860

Advisory (Participants)

$20,469

MERRILL LYNCH PIERCE FENNER & SMITH6+ years

Filed as: MERRILL LYNCH

Service code 19 · EIN 13-5674085

400 LOCUST STREET, STE 600 · DES MOINES, IA 50309

Securities Custodian

$20,314

THE IOWA CLINIC 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE IOWA CLINIC 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion