Retirement plan

RADIOLOGY ASSOCIATES OF RICHMOND, INC 401(K) PROFIT SHARING PLAN

Name: RADIOLOGY ASSOCIATES OF RICHMOND, INC - RADIOLOGY ASSOCIATES OF RICHMOND, INC 401(K) PROFIT SHARING PLAN (2020) Form 5500
Creator: RADIOLOGY ASSOCIATES OF RICHMOND, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RADIOLOGY ASSOCIATES OF RICHMOND, INC 401(K) PROFIT SHARING PLAN, RADIOLOGY ASSOCIATES OF RICHMOND, INC

RADIOLOGY ASSOCIATES OF RICHMOND, INCEIN 54-0888075Plan #001PY 2020

2602 BUFORD ROAD - RICHMOND, VA 23235804-272-8806rarichmond.comLinkedIn51-200 employeesmedical practice

Prospect flagsLow returnsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$47.4M

-1.7% from 2019

Total participants

165

+1.9% from 2019

Average account balance

$287,568

-4.7% from 2019

Annual return

-7.87%

-10.92 pp from 2019

Benchmarks

See 5,414 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,414 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$85.48M

Not enough data

1 years with asset history on file

Average account balance

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

$534K

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.

160

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.

95.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.49M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$35K

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

+16.77%

Not enough data

1 years with return on file

Admin fee / account holder

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

$268

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 4 by compensation

Provider	Service type	Compensation
HEARTWOOD WEALTH ADVISORS1 year Service code 27 · EIN 46-1418604	Advisory (Plan)	$59,081
WELLS FARGO BANK, N.A.5+ years Filed as: WELLS FARGO ADVISORS Service code 27 · EIN 34-1542819	Advisory (Plan)	$50,984
THE VANGUARD GROUP, INC.4 years Service code 15 · EIN 23-1945930	Recordkeeping	$13,115
ASCENSUS LLC4 years Filed as: ASCENSUS Service code 15 · EIN 11-3665754	Recordkeeping	$0

Plan features & details

Pension benefit codes2E2F2G2J2T3D3F2R

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.

Opportunity flags

3 tripped

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.
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$122K

$949 / participant

Investment mgmt$122K99.5%
Contract admin$6600.5%

% of EOY assets

0.258%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: HARRIS, HARDY & JOHNSTONE, PC
Auditor EIN: 541451026
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$287,568

$58,895+388.3%

$178,503+61.1%

$73,497+291.3%

Participation rate

100.0%

66.2%+33.8pp

81.9%+18.1pp

70.7%+29.3pp

Annual return

-7.87%

24.86%-32.7pp

151.12%-159.0pp

28.51%-36.4pp

Employer contribution / active EE

$18,116

$2,236+710.2%

$5,011+261.5%

$2,270+698.0%

Participant deferral / active EE

$11,224

$2,567+337.3%

$5,202+115.8%

$3,740+200.1%

Admin fee / account holder

$742

$400+85.3%

$13,987-94.7%

$513+44.6%

Provider

Service type

Compensation

HEARTWOOD WEALTH ADVISORS1 year

Service code 27 · EIN 46-1418604

Advisory (Plan)

$59,081

WELLS FARGO BANK, N.A.5+ years

Filed as: WELLS FARGO ADVISORS

Service code 27 · EIN 34-1542819

Advisory (Plan)

$50,984

THE VANGUARD GROUP, INC.4 years

Service code 15 · EIN 23-1945930

Recordkeeping

$13,115

ASCENSUS LLC4 years

Filed as: ASCENSUS

Service code 15 · EIN 11-3665754

Recordkeeping

RADIOLOGY ASSOCIATES OF RICHMOND, INC 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RADIOLOGY ASSOCIATES OF RICHMOND, 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