Retirement plan

PHYSICIANS 401(K) SOLUTIONS

Name: ORTHO BENEFITS CORP - PHYSICIANS 401(K) SOLUTIONS (2023) Form 5500
Creator: ORTHO BENEFITS CORP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PHYSICIANS 401(K) SOLUTIONS, ORTHO BENEFITS CORP

ORTHO BENEFITS CORPEIN 47-1797746Plan #002PY 2023

300 AVENUE OF THE CHAMPIONS - PALM BEACH GARDENS, FL 33418561-775-0887

Other plans on this EIN

1 filing

#001Retirement-$29.5M assets

Prospect flagsLow returnsHigh feesLow participation

How to read this page

Total assets (EOY)

$11.6M

-5.1% from 2022

Total participants

213

-23.1% from 2022

Average account balance

$88,107

+25.1% from 2022

Annual return

1.91%

+20.46 pp from 2022

Benchmarks

See 1,919 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants100-249

Cohort1,919 peers

Snapshot2023

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

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Analytics

Total assets (EOY)

Plan-year ending balance

$13.17M

Not enough data

1 years with asset history on file

Average account balance

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

$108K

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.

122

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.

29.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.13M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+8.01%

Not enough data

1 years with return on file

Admin fee / account holder

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

$854

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

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Service providers

Top 5 by compensation

Provider	Service type	Compensation
TRANSAMERICA RETIREMENT SOLUTIONS3+ years Filed as: TRANSAMERICA FINANCIAL LIFE INSURAN Service code 15 · EIN 36-6071399	Recordkeeping	$72,882
CREATIVE PLANNING LLC2 years Service code 27 · EIN 43-1270780	Advisory (Plan)	$6,128
THE ROSENBAUM LAW FIRM P.C.3+ years Service code 14 · EIN 11-3544517	Plan Administrator	$3,676
EJREYNOLDS, INC.3+ years Filed as: EJ REYNOLDS, INC. Service code 15 · EIN 59-2265857	Recordkeeping	$1,450
GWN SECURITIES, INC1 year Filed as: GWN SECURITIES INC Service code 49 · EIN 65-0939556	Other Services	$735

Plan features & details

Pension benefit codes2A2E2F2G2J2K2T3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.

Opportunity flags

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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.

Expense breakdown

Schedule H Part II

Admin total

$93K

$507 / participant

Contract admin$93K100.0%

% of EOY assets

0.802%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.

Auditor firm: TEMPLETON & COMPANY
Auditor EIN: 141718990
Audit fees: (not subdivided)
Opinion code: Disclaimer

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$88,107

$58,264+51.2%

$86,612+1.7%

$71,457+23.3%

Participation rate

56.0%

65.0%-9.0pp

71.7%-15.7pp

67.9%-11.9pp

Annual return

1.91%

21.63%-19.7pp

591.07%-589.2pp

28.85%-26.9pp

Employer contribution / active EE

$2,400

$2,574-6.8%

$3,022-20.6%

$2,588-7.3%

Participant deferral / active EE

$5,428

$3,436+58.0%

$4,438+22.3%

$4,289+26.6%

Admin fee / account holder

$706

$1,057-33.2%

$5,614-87.4%

$1,587-55.5%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS3+ years

Filed as: TRANSAMERICA FINANCIAL LIFE INSURAN

Service code 15 · EIN 36-6071399

Recordkeeping

$72,882

CREATIVE PLANNING LLC2 years

Service code 27 · EIN 43-1270780

Advisory (Plan)

$6,128

THE ROSENBAUM LAW FIRM P.C.3+ years

Service code 14 · EIN 11-3544517

Plan Administrator

$3,676

EJREYNOLDS, INC.3+ years

Filed as: EJ REYNOLDS, INC.

Service code 15 · EIN 59-2265857

Recordkeeping

$1,450

GWN SECURITIES, INC1 year

Filed as: GWN SECURITIES INC

Service code 49 · EIN 65-0939556

Other Services

$735

PHYSICIANS 401(K) SOLUTIONS

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PHYSICIANS 401(K) SOLUTIONS

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