Retirement plan

DAKOTA EYE 401(K) PLAN

Name: DAKOTA EYE INSTITUTE, PC - DAKOTA EYE 401(K) PLAN (2023) Form 5500
Creator: DAKOTA EYE INSTITUTE, PC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, DAKOTA EYE 401(K) PLAN, DAKOTA EYE INSTITUTE, PC

DAKOTA EYE INSTITUTE, PCEIN 45-0413089Plan #002PY 2023

200 SOUTH 5TH STREET - BISMARCK, ND 58504701-222-3937dakotaeye.comLinkedIn51-200 employeesmedical practice

Prospect flagsHigh feesRecently reached 100 employees

How to read this page

Total assets (EOY)

$29.3M

+10.1% from 2022

Total participants

178

+28.1% from 2022

Average account balance

$173,147

No prior year

Annual return

17.53%

+34.20 pp from 2022

Benchmarks

See 5,719 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,719 peers

Snapshot2023

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

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Analytics

Total assets (EOY)

Plan-year ending balance

$30.66M

Not enough data

1 years with asset history on file

Average account balance

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

$175K

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.

175

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.

95.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.33M

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

+15.28%

Not enough data

1 years with return on file

Admin fee / account holder

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

$418

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

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Service providers

Top 6 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$28,533
MORGAN STANLEY SMITH BARNEY1 year Filed as: MORGAN STANLEY Service code 27 1585 BROADWAY · NEW YORK, NY 10036	Advisory (Plan)	$27,386
BRADY MARTZ & ASSOCIATES1 year Filed as: BRADY MARTZ & ASSOCIATES PC Service code 99 900 E BROADWAY AVE · BISMARCK, ND 58501	Other Fees	$10,825
DAKOTA CAPITAL1 year Filed as: DAKOTA EYE INSTITUTE Service code 99 200 S 5TH ST · BISMARCK, ND 58504	Other Fees	$10,785
QDRO CONSULTANTS COMPANY, LLC1 year Service code 99 3071 PEARL ROAD · MEDINA, OH 44256	Other Fees	$400
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$293

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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.
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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$78K

$547 / participant

Recordkeeping$29K36.5%
Investment mgmt$28K35.4%
Other / not subdivided$22K28.1%

% of EOY assets

0.267%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: BRADY, MARTZ & ASSOCIATES
Auditor EIN: 450310328
Audit fees: $0
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$173,147

$61,272+182.6%

$149,673+15.7%

$71,457+142.3%

Participation rate

93.7%

62.5%+31.2pp

78.8%+14.9pp

67.9%+25.8pp

Annual return

17.53%

35.85%-18.3pp

134.42%-116.9pp

28.85%-11.3pp

Employer contribution / active EE

$5,555

$2,378+133.6%

$4,818+15.3%

$2,588+114.7%

Participant deferral / active EE

$5,265

$2,917+80.5%

$5,680-7.3%

$4,289+22.8%

Admin fee / account holder

$463

$1,261-63.3%

$13,210-96.5%

$1,587-70.8%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$28,533

MORGAN STANLEY SMITH BARNEY1 year

Filed as: MORGAN STANLEY

Service code 27

1585 BROADWAY · NEW YORK, NY 10036

Advisory (Plan)

$27,386

BRADY MARTZ & ASSOCIATES1 year

Filed as: BRADY MARTZ & ASSOCIATES PC

Service code 99

900 E BROADWAY AVE · BISMARCK, ND 58501

Other Fees

$10,825

DAKOTA CAPITAL1 year

Filed as: DAKOTA EYE INSTITUTE

Service code 99

200 S 5TH ST · BISMARCK, ND 58504

Other Fees

$10,785

QDRO CONSULTANTS COMPANY, LLC1 year

Service code 99

3071 PEARL ROAD · MEDINA, OH 44256

Other Fees

$400

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$293

DAKOTA EYE 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

DAKOTA EYE 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