Retirement plan

MEDICOM TECHNOLOGIES RETIREMENT PLAN

Name: MEDICOM TECHNOLOGIES, INC. - MEDICOM TECHNOLOGIES RETIREMENT PLAN (2024) Form 5500
Creator: MEDICOM TECHNOLOGIES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MEDICOM TECHNOLOGIES RETIREMENT PLAN, MEDICOM TECHNOLOGIES, INC.

MEDICOM TECHNOLOGIES, INC.EIN 47-5342804Plan #001PY 2024

555 FAYETTEVILLE STREET, STE 300 - RALEIGH, NC 27601844-686-9599medicom.usLinkedIn11-50 employeescomputer software

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$2.3M

+35.7% from 2023

Total participants

-15.5% from 2023

Average account balance

$48,945

+64.0% from 2023

Annual return

18.82%

-19.90 pp from 2023

Benchmarks

See 3,224 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants25-99

Cohort3,224 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.16M

Not enough data

1 years with asset history on file

Average account balance

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

$59K

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.

110.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$499K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+17.41%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2322

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 codes2E2F2G2J2T3D

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

1 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$161K

$3668 / participant

Other / not subdivided$161K100.0%

% of EOY assets

6.870%

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

$48,945

$77,460-36.8%

$100,378-51.2%

$80,925-39.5%

Participation rate

97.7%

76.9%+20.8pp

81.5%+16.2pp

67.7%+30.1pp

Annual return

18.82%

37.24%-18.4pp

49.41%-30.6pp

35.65%-16.8pp

Employer contribution / active EE

$2,801-100.0%

$3,942-100.0%

$2,756-100.0%

Participant deferral / active EE

$9,766

$6,818+43.2%

$8,087+20.8%

$4,299+127.2%

Admin fee / account holder

$3,363

$5,887-42.9%

$7,899-57.4%

$6,940-51.5%

MEDICOM TECHNOLOGIES RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MEDICOM TECHNOLOGIES RETIREMENT 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