Retirement plan

THE IOWA CLINIC 401(K) PROFIT SHARING PLAN

Name: THE IOWA CLINIC, P.C. - THE IOWA CLINIC 401(K) PROFIT SHARING PLAN (2024) 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 2024

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

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$328.9M

-10.4% from 2016

Total participants

1,817

-3.0% from 2016

Average account balance

$183,334

-10.7% from 2016

Annual return

14.50%

-10.26 pp from 2016

Benchmarks

See 1,429 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants1,000-4,999

Cohort1,429 peers

Snapshot2024

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 13 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY10+ years Filed as: PRINCIPAL LIFE INSURANCE CO Service code 13 · EIN 42-0127290	Contract Administrator	$153,106
NORTHWESTERN MUTUAL INVESTMENT SERV10+ years Filed as: ED MCGILL-NORTHWESTERN MUTUAL Service code 26 · EIN 39-0509570 12289 STRATFORD DRIVE · CLIVE, IA 50325	Advisory (Participants)	$67,589
FOSTER GROUP10+ years Filed as: FOSTER GROUP, INC. Service code 26 · EIN 42-1361385	Advisory (Participants)	$54,450
UBS FINANCIAL SERVICES INC10+ years Filed as: UBS FINANCIAL SERVICES Service code 26 · EIN 13-2638166 1285 AVENUE OF THE AMERICAS · NEW YORK, NY 10019	Advisory (Participants)	$51,972
DANIEL KELLY - DM KELLY & CO10+ years Service code 26 · EIN 42-1439008 3900 INGERSOLL AVENUE, SUITE 300 · DES MOINES, IA 50312	Advisory (Participants)	$37,041
MORGAN STANLEY SMITH BARNEY10+ years Filed as: MORGAN STANLEY Service code 19 · EIN 26-4310632 801 GRAND SUITE 3800 · DES MOINES, IA 50309	Securities Custodian	$33,549
MERRILL LYNCH PIERCE FENNER & SMITH10+ years Filed as: MERRILL LYNCH Service code 19 · EIN 13-5674085 400 LOCUST STREET, STE 600 · DES MOINES, IA 50309	Securities Custodian	$25,421
JP MORGAN INVESTMENT MANAGEMENT INC2 years Filed as: NYLIFE SECURITIES, LLC Service code 26 4855 MILLS CIVIC PARKWAY, SUITE 200 · WEST DES MOINES, IA 50265	Advisory (Participants)	$22,092
RBC WEALTH MANAGEMENT10+ years Service code 26 · EIN 41-1416330 60 SOUTH 6TH STREET · MINNEAPOLIS, MN 55402	Advisory (Participants)	$20,024
AMERICAN FUNDS5 years Filed as: CAPITAL RESOURCE MANAGEMENT Service code 26 1080 JORDAN CREEK PKWY STE 300 N · WEST DES MOINES, IA 50266	Advisory (Participants)	$18,584

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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$551K

$448 / participant

Contract admin$551K100.0%

% of EOY assets

0.167%

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 CPA LLP
Auditor EIN: 420794029
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$183,334

$53,204+244.6%

$155,556+17.9%

$200,096-8.4%

Participation rate

98.1%

64.1%+34.0pp

78.2%+19.9pp

72.0%+26.1pp

Annual return

14.50%

41.02%-26.5pp

64.84%-50.3pp

34.26%-19.8pp

Employer contribution / active EE

$10,069

$1,850+444.2%

$4,675+115.3%

$3,038+231.5%

Participant deferral / active EE

$7,906

$3,163+149.9%

$5,631+40.4%

$5,090+55.3%

Admin fee / account holder

$307

$186+65.2%

$15,885-98.1%

$269+14.0%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY10+ years

Filed as: PRINCIPAL LIFE INSURANCE CO

Service code 13 · EIN 42-0127290

Contract Administrator

$153,106

NORTHWESTERN MUTUAL INVESTMENT SERV10+ years

Filed as: ED MCGILL-NORTHWESTERN MUTUAL

Service code 26 · EIN 39-0509570

12289 STRATFORD DRIVE · CLIVE, IA 50325

Advisory (Participants)

$67,589

FOSTER GROUP10+ years

Filed as: FOSTER GROUP, INC.

Service code 26 · EIN 42-1361385

Advisory (Participants)

$54,450

UBS FINANCIAL SERVICES INC10+ years

Filed as: UBS FINANCIAL SERVICES

Service code 26 · EIN 13-2638166

1285 AVENUE OF THE AMERICAS · NEW YORK, NY 10019

Advisory (Participants)

$51,972

DANIEL KELLY - DM KELLY & CO10+ years

Service code 26 · EIN 42-1439008

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

Advisory (Participants)

$37,041

MORGAN STANLEY SMITH BARNEY10+ years

Filed as: MORGAN STANLEY

Service code 19 · EIN 26-4310632

801 GRAND SUITE 3800 · DES MOINES, IA 50309

Securities Custodian

$33,549

MERRILL LYNCH PIERCE FENNER & SMITH10+ years

Filed as: MERRILL LYNCH

Service code 19 · EIN 13-5674085

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

Securities Custodian

$25,421

JP MORGAN INVESTMENT MANAGEMENT INC2 years

Filed as: NYLIFE SECURITIES, LLC

Service code 26

4855 MILLS CIVIC PARKWAY, SUITE 200 · WEST DES MOINES, IA 50265

Advisory (Participants)

$22,092

RBC WEALTH MANAGEMENT10+ years

Service code 26 · EIN 41-1416330

60 SOUTH 6TH STREET · MINNEAPOLIS, MN 55402

Advisory (Participants)

$20,024

AMERICAN FUNDS5 years

Filed as: CAPITAL RESOURCE MANAGEMENT

Service code 26

1080 JORDAN CREEK PKWY STE 300 N · WEST DES MOINES, IA 50266

Advisory (Participants)

$18,584

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