Retirement plan

SPECIALTY ORTHOPEDIC GROUP OF MS, LLC 401(K) PLAN

Name: SPECIALTY ORTHOPEDIC GROUP OF MS, LLC - SPECIALTY ORTHOPEDIC GROUP OF MS, LLC 401(K) PLAN (2022) Form 5500
Creator: SPECIALTY ORTHOPEDIC GROUP OF MS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SPECIALTY ORTHOPEDIC GROUP OF MS, LLC 401(K) PLAN, SPECIALTY ORTHOPEDIC GROUP OF MS, LLC

SPECIALTY ORTHOPEDIC GROUP OF MS, LLCEIN 47-4372269Plan #001PY 2022

1211 S GLOSTER ST., STE. A - TUPELO, MS 38801662-767-4200sogms.comLinkedIn51-200 employeesmedical practice

Prospect flagsLow fidelity bond

How to read this page

Total assets (EOY)

$4.4M

+0.2% from 2021

Total participants

204

+43.7% from 2021

Average account balance

$26,056

-15.3% from 2021

Annual return

-17.61%

-55.56 pp from 2021

Benchmarks

See 5,349 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,349 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.88M

Not enough data

1 years with asset history on file

Average account balance

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

$42K

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.

164

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.

69.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$867K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+18.03%

Not enough data

1 years with return on file

Admin fee / account holder

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

$44

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
BANKPLUS WEALTH MANAGEMENT1 year Service code 27 · EIN 64-0134513	Advisory (Plan)	$26,422
EPIC RETIREMENT PLAN SERVICES1 year Service code 15 · EIN 16-1450952	Recordkeeping	$15,298

Plan features & details

Pension benefit codes2E2F2G2J2K3D

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.
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

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

$42K

$266 / participant

Other / not subdivided$42K100.0%

% of EOY assets

0.953%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: WILLIAMS, WEISS, HESTER & CO., PLLC
Auditor EIN: 640317418
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$26,056

$65,092-60.0%

$143,799-81.9%

$66,938-61.1%

Participation rate

77.1%

65.2%+11.9pp

80.3%-3.2pp

69.8%+7.3pp

Annual return

-17.61%

-11.14%-6.5pp

-0.04%-17.6pp

1.58%-19.2pp

Employer contribution / active EE

$2,207

$2,362-6.5%

$4,952-55.4%

$2,545-13.3%

Participant deferral / active EE

$3,312

$2,920+13.4%

$5,638-41.3%

$4,238-21.8%

Admin fee / account holder

$248

$502-50.6%

$14,677-98.3%

$594-58.2%

Provider

Service type

Compensation

BANKPLUS WEALTH MANAGEMENT1 year

Service code 27 · EIN 64-0134513

Advisory (Plan)

$26,422

EPIC RETIREMENT PLAN SERVICES1 year

Service code 15 · EIN 16-1450952

Recordkeeping

$15,298

SPECIALTY ORTHOPEDIC GROUP OF MS, LLC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SPECIALTY ORTHOPEDIC GROUP OF MS, LLC 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