Retirement plan

SUMMIT INTERNAL MEDICINE P.C. 401(K) PLAN

Name: SUMMIT INTERNAL MEDICINE P.C. - SUMMIT INTERNAL MEDICINE P.C. 401(K) PLAN (2024) Form 5500
Creator: SUMMIT INTERNAL MEDICINE P.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SUMMIT INTERNAL MEDICINE P.C. 401(K) PLAN, SUMMIT INTERNAL MEDICINE P.C.

SUMMIT INTERNAL MEDICINE P.C.EIN 42-1594377Plan #001PY 2024

3570 GRANDVIEW PARKWAY SUITE 100A - BIRMINGHAM, AL 35243205-595-9222

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$171K

+68.5% from 2023

Total participants

0.0% from 2023

Average account balance

$24,414

+68.5% from 2023

Annual return

13.45%

-24.38 pp from 2023

Benchmarks

See 109,751 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort109,751 peers

Snapshot2024

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$171K

Not enough data

1 years with asset history on file

Average account balance

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

$24K

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.

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.

116.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$56K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+13.45%

Not enough data

1 years with return on file

Admin fee / account holder

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

$105

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

0 years with F_SCH_H allocation on file

See the 3-year trajectory. $4.99 for your first month.

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Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

0 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$735

$123 / participant

Other / not subdivided$735100.0%

% of EOY assets

0.430%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$24,414

$183,519-86.7%

$155,509-84.3%

$145,922-83.3%

Participation rate

100.0%

82.7%+17.3pp

78.2%+21.8pp

80.3%+19.7pp

Annual return

13.45%

61.17%-47.7pp

64.67%-51.2pp

561.29%-547.8pp

Employer contribution / active EE

$2,726

$5,313-48.7%

$4,672-41.7%

$4,660-41.5%

Participant deferral / active EE

$6,581

$6,462+1.8%

$5,626+17.0%

$6,688-1.6%

Admin fee / account holder

$105

$19,313-99.5%

$15,912-99.3%

$13,397-99.2%

SUMMIT INTERNAL MEDICINE P.C. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SUMMIT INTERNAL MEDICINE P.C. 401(K) 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