Retirement plan

PHYSICIANS NETWORK MEDICAL GROUP 401(K) PLAN

Name: PHYSICIANS NETWORK MEDICAL GROUP, INC. - PHYSICIANS NETWORK MEDICAL GROUP 401(K) PLAN (2023) Form 5500
Creator: PHYSICIANS NETWORK MEDICAL GROUP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PHYSICIANS NETWORK MEDICAL GROUP 401(K) PLAN, PHYSICIANS NETWORK MEDICAL GROUP, INC.

PHYSICIANS NETWORK MEDICAL GROUP, INC.EIN 45-3776074Plan #001PY 2023

ONE ADVENTIST HEALTH WAY - ROSEVILLE, CA 956613804916-789-4213physiciansnetworkmedicalgroup.comLinkedIn201-500 employeesmedical practice

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$83.8M

+32.5% from 2022

Total participants

665

+2.3% from 2022

Average account balance

$151,501

+25.8% from 2022

Annual return

25.01%

+38.54 pp from 2022

Benchmarks

See 4,041 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort4,041 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$106.47M

Not enough data

1 years with asset history on file

Average account balance

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

$184K

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.

578

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.

79.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$13.52M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$23K

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

+27.01%

Not enough data

1 years with return on file

Admin fee / account holder

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

$357

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 2 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY9+ years Service code 13 · EIN 42-0127290	Contract Administrator	$153,628
PENSIONMARK FINANCIAL GROUP LLC3 years Filed as: PENSIONMARK FINANCIAL GROUP, LLC Service code 27 · EIN 61-1758632	Advisory (Plan)	$77,969

Plan features & details

Pension benefit codes2E2F2G2J2R2T3D

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

1 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$154K

$303 / participant

Contract admin$154K100.0%

% of EOY assets

0.184%

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: MUN CPAS, LLP
Auditor EIN: 200276349
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$151,501

$47,135+221.4%

$149,717+1.2%

$74,440+103.5%

Participation rate

78.0%

63.4%+14.5pp

78.8%-0.8pp

70.7%+7.2pp

Annual return

25.01%

22.75%+2.3pp

134.41%-109.4pp

34.37%-9.4pp

Employer contribution / active EE

$7,810

$1,906+309.8%

$4,820+62.0%

$2,638+196.1%

Participant deferral / active EE

$15,495

$2,728+467.9%

$5,682+172.7%

$4,529+242.1%

Admin fee / account holder

$278

$343-18.8%

$13,213-97.9%

$348-20.0%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY9+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$153,628

PENSIONMARK FINANCIAL GROUP LLC3 years

Filed as: PENSIONMARK FINANCIAL GROUP, LLC

Service code 27 · EIN 61-1758632

Advisory (Plan)

$77,969

PHYSICIANS NETWORK MEDICAL GROUP 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PHYSICIANS NETWORK 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