Retirement plan

COMMONWEALTH PRIMARY CARE, INC. 401(K) PROFIT SHARING PLAN AND TRUST

Name: COMMONWEALTH PRIMARY CARE, INC. - COMMONWEALTH PRIMARY CARE, INC. 401(K) PROFIT SHARING PLAN AND TRUST (2023) Form 5500
Creator: COMMONWEALTH PRIMARY CARE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, COMMONWEALTH PRIMARY CARE, INC. 401(K) PROFIT SHARING PLAN AND TRUST, COMMONWEALTH PRIMARY CARE, INC.

COMMONWEALTH PRIMARY CARE, INC.EIN 54-0965697Plan #001PY 2023

1800 GLENSIDE DRIVE, SUITE 105A - RICHMOND, VA 23226804-288-0399cpcva.comLinkedIn51-200 employeesmedical practice

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$38.7M

+16.2% from 2022

Total participants

272

+4.6% from 2022

Average account balance

$142,197

+11.1% from 2022

Annual return

15.60%

+30.17 pp from 2022

Benchmarks

See 5,703 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,703 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$41.66M

Not enough data

1 years with asset history on file

Average account balance

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

$152K

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.

274

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.65M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+11.94%

Not enough data

1 years with return on file

Admin fee / account holder

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

$483

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 3 by compensation

Provider	Service type	Compensation
WELLS FARGO BANK, N.A.9+ years Filed as: WELLS FARGO ADVISORS Service code 26 · EIN 23-2384840 PO BOX 1745 · RICHMOND, VA 23218	Advisory (Participants)	$99,495
ASCENSUS LLC9+ years Filed as: ASCENSUS, INC. Service code 13 · EIN 11-3665754	Contract Administrator	$25,651
EMPLOYEE BENEFITS SERVICES7 years Service code 13 · EIN 52-2061078	Contract Administrator	$5,640

Plan features & details

Pension benefit codes2E2J2K2G3D2F

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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$133K

$664 / participant

Recordkeeping$15K11.0%
Investment mgmt$99K74.9%
Contract admin$12K8.8%
Other / not subdivided$7K5.2%

% of EOY assets

0.343%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: HARRIS, HARDY & JOHNSTONE, P.C.
Auditor EIN: 541451026
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$142,197

$61,391+131.6%

$149,723-5.0%

$71,529+98.8%

Participation rate

100.0%

62.5%+37.5pp

78.8%+21.2pp

67.9%+32.1pp

Annual return

15.60%

35.88%-20.3pp

134.50%-118.9pp

28.97%-13.4pp

Employer contribution / active EE

$7,142

$2,384+199.6%

$4,821+48.1%

$2,590+175.8%

Participant deferral / active EE

$5,883

$2,921+101.4%

$5,682+3.5%

$4,291+37.1%

Admin fee / account holder

$488

$1,264-61.4%

$13,215-96.3%

$1,588-69.3%

Provider

Service type

Compensation

WELLS FARGO BANK, N.A.9+ years

Filed as: WELLS FARGO ADVISORS

Service code 26 · EIN 23-2384840

PO BOX 1745 · RICHMOND, VA 23218

Advisory (Participants)

$99,495

ASCENSUS LLC9+ years

Filed as: ASCENSUS, INC.

Service code 13 · EIN 11-3665754

Contract Administrator

$25,651

EMPLOYEE BENEFITS SERVICES7 years

Service code 13 · EIN 52-2061078

Contract Administrator

$5,640

COMMONWEALTH PRIMARY CARE, INC. 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

COMMONWEALTH PRIMARY CARE, INC. 401(K) PROFIT SHARING PLAN AND TRUST

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