Retirement plan

SOUTH DAKOTA FOUNDATION FOR MEDICAL CARE 401(K) PLAN

Name: SOUTH DAKOTA FOUNDATION FOR MEDICAL CARE - SOUTH DAKOTA FOUNDATION FOR MEDICAL CARE 401(K) PLAN (2023) Form 5500
Creator: SOUTH DAKOTA FOUNDATION FOR MEDICAL CARE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SOUTH DAKOTA FOUNDATION FOR MEDICAL CARE 401(K) PLAN, SOUTH DAKOTA FOUNDATION FOR MEDICAL CARE

SOUTH DAKOTA FOUNDATION FOR MEDICAL CAREEIN 46-6037574Plan #002PY 2023

2600 WEST 49TH STREET, SUITE 102 - SIOUX FALLS, SD 57105605-336-3505sdfmc.orgLinkedIn11-50 employeesgovernment administration

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$3.7M

+29.5% from 2022

Total participants

+17.1% from 2022

Average account balance

$94,653

+3.0% from 2022

Annual return

21.15%

+37.51 pp from 2022

Benchmarks

See 28,703 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort28,703 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.37M

Not enough data

1 years with asset history on file

Average account balance

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

$132K

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.

165.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$266K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+15.08%

Not enough data

1 years with return on file

Admin fee / account holder

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

$20134

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 codes2E3D2G2J2F2T

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

2 tripped

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

$32K

$942 / participant

Other / not subdivided$32K100.0%

% of EOY assets

0.868%

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

$94,653

$93,617+1.1%

$135,982-30.4%

$75,177+25.9%

Participation rate

94.1%

75.2%+18.9pp

81.9%+12.2pp

67.2%+26.9pp

Annual return

21.15%

30.89%-9.7pp

68.32%-47.2pp

160.75%-139.6pp

Employer contribution / active EE

$3,699

$3,538+4.5%

$4,859-23.9%

$2,671+38.5%

Participant deferral / active EE

$4,272

$6,406-33.3%

$7,760-44.9%

$4,126+3.5%

Admin fee / account holder

$821

$6,980-88.2%

$10,767-92.4%

$5,651-85.5%

SOUTH DAKOTA FOUNDATION FOR MEDICAL CARE 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SOUTH DAKOTA FOUNDATION FOR MEDICAL CARE 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