Retirement plan

TAK MEDICAL GROUP 401(K) PLAN

Name: TAK MEDICAL GROUP - TAK MEDICAL GROUP 401(K) PLAN (2022) Form 5500
Creator: TAK MEDICAL GROUP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TAK MEDICAL GROUP 401(K) PLAN, TAK MEDICAL GROUP

TAK MEDICAL GROUPEIN 45-3626567Plan #001PY 2022

14 MONUMENT SQUARE, #401 - LEOMINSTER, MA 01453978-466-4025takmedgroup.comLinkedIn1-10 employeeshospital & health care

Prospect flagsLow returnsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$747K

-52.5% from 2021

Total participants

-51.0% from 2021

Average account balance

$29,871

-3.1% from 2021

Annual return

-22.98%

-33.05 pp from 2021

Benchmarks

See 105,950 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort105,950 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$982K

Not enough data

1 years with asset history on file

Average account balance

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

$39K

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.

192.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$82K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+12.89%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6409

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

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

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 codes2E2F2G2J3B3D

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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$642K

$80237 / participant

Other / not subdivided$642K100.0%

% of EOY assets

85.956%

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: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$29,871

$167,362-82.2%

$143,799-79.2%

$134,532-77.8%

Participation rate

100.0%

84.8%+15.2pp

80.3%+19.7pp

81.2%+18.8pp

Annual return

-22.98%

0.47%-23.5pp

-0.04%-22.9pp

418.27%-441.2pp

Employer contribution / active EE

$8,603

$5,620+53.1%

$4,952+73.7%

$4,741+81.5%

Participant deferral / active EE

$13,530

$6,447+109.9%

$5,638+140.0%

$6,401+111.4%

Admin fee / account holder

$25,676

$18,094+41.9%

$14,677+74.9%

$11,429+124.7%

TAK MEDICAL GROUP 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TAK MEDICAL GROUP 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