Retirement plan

OPTIMA MEDICAL MANAGEMENT GROUP, INC. 401(K) PROFIT SHARING PLAN

Name: OPTIMA MEDICAL MANAGEMENT GROUP, INC. - OPTIMA MEDICAL MANAGEMENT GROUP, INC. 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: OPTIMA MEDICAL MANAGEMENT GROUP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, OPTIMA MEDICAL MANAGEMENT GROUP, INC. 401(K) PROFIT SHARING PLAN, OPTIMA MEDICAL MANAGEMENT GROUP, INC.

OPTIMA MEDICAL MANAGEMENT GROUP, INC.EIN 47-4906232Plan #001PY 2024

9265 SKY PARK CT. - SAN DIEGO, CA 92123619-602-4557optimamedical.comLinkedIn11-50 employeeshospital & health care

Prospect flagsLow assets / participantCorrective distributions

How to read this page

Total assets (EOY)

$2.8M

+155.8% from 2023

Total participants

285

+61.0% from 2023

Average account balance

$10,177

+57.7% from 2023

Annual return

16.04%

-257.62 pp from 2023

Benchmarks

See 1,427 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants100-249

Cohort1,427 peers

Snapshot2024

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

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Analytics

Total assets (EOY)

Plan-year ending balance

$2.84M

Not enough data

1 years with asset history on file

Average account balance

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

$10K

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.

279

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.

96.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.58M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+16.04%

Not enough data

1 years with return on file

Admin fee / account holder

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

$27

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

See the 6-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Service providers

Top 1 by compensation

Provider	Service type	Compensation
CHARLES SCHWAB & CO., INC.1 year Service code 59 · EIN 94-1737782	Shareholder Servicing	$0

Plan features & details

Pension benefit codes2A2E2F2G2J3D

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.
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

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$8K

$43 / participant

Recordkeeping$1K17.3%
Investment mgmt$6K82.7%

% of EOY assets

0.265%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: SCOTT MILLER CPA & ASSOCIATES, PC
Auditor EIN: 873523115
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$10,177

$44,960-77.4%

$84,966-88.0%

$74,495-86.3%

Participation rate

96.6%

49.4%+47.2pp

67.5%+29.1pp

67.2%+29.4pp

Annual return

16.04%

26.24%-10.2pp

66.38%-50.3pp

1364.94%-1348.9pp

Employer contribution / active EE

$6,352

$1,457+335.9%

$2,727+132.9%

$2,623+142.2%

Participant deferral / active EE

$2,627

$2,731-3.8%

$4,519-41.9%

$4,346-39.6%

Admin fee / account holder

$27

$2,209-98.8%

$6,149-99.6%

$1,942-98.6%

Provider

Service type

Compensation

CHARLES SCHWAB & CO., INC.1 year

Service code 59 · EIN 94-1737782

Shareholder Servicing

OPTIMA MEDICAL MANAGEMENT GROUP, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

OPTIMA MEDICAL MANAGEMENT GROUP, INC. 401(K) PROFIT SHARING 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