Retirement plan

VIRGINIA CARDIOVASCULAR SPECIALISTS, PC 401K PROFIT SHARING PLAN

Name: VIRGINIA CARDIOVASCULAR SPECIALISTS - VIRGINIA CARDIOVASCULAR SPECIALISTS, PC 401K PROFIT SHARING PLAN (2016) Form 5500
Creator: VIRGINIA CARDIOVASCULAR SPECIALISTS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, VIRGINIA CARDIOVASCULAR SPECIALISTS, PC 401K PROFIT SHARING PLAN, VIRGINIA CARDIOVASCULAR SPECIALISTS

VIRGINIA CARDIOVASCULAR SPECIALISTSEIN 54-1090122Plan #002PY 2016

8001 FRANKLIN FARMS DRIVE, SUITE 130 - RICHMOND, VA 23229804-323-5011

Prospect flagsHigh feesHigh assets / participantCorrective distributions

How to read this page

Total assets (EOY)

$55.4M

-19.2% from 2015

Total participants

255

+30.8% from 2015

Average account balance

$279,602

-23.2% from 2015

Annual return

7.68%

+8.91 pp from 2015

Benchmarks

See 5,140 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,140 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$57.62M

Not enough data

1 years with asset history on file

Average account balance

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

$257K

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.

224

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.

97.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.48M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$19K

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

+16.70%

Not enough data

1 years with return on file

Admin fee / account holder

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

$492

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
WELLS FARGO BANK, N.A.2+ years Filed as: WELLS FARGO ADVISORS, LLC Service code 27 401 S TRYON ST. · CHARLOTTE, NC 28081	Advisory (Plan)	$69,017
WELLS FARGO BANK, N.A.1 year Filed as: WELLS FARGO CLEARING SERVICES LLC Service code 55 1021 E CARY STREET SUITE 2200 · RICHOND, VA 232181745	Other Commissions	$4,451
MMA SECURITIES LLC2+ years Filed as: MARSH & MCLENNAN AGENCY LLC Service code 13 P O BOX 12748 · ROANOKE, VA 240282748	Contract Administrator	$2,000
AMERICAN FUNDS2+ years Filed as: CAPITAL RESEARCH AND MANAGEMENT CO Service code 64 333 SOUTH HOPE STREET · LOS ANGELES, CA 90071	Recordkeeping Fees	$1,894

Plan features & details

Pension benefit codes2A2E2F2G2J2K2R3D2T

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.
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.
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.

Opportunity flags

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$297K

$1556 / participant

Investment mgmt$297K100.0%

% of EOY assets

0.537%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: KEITER
Auditor EIN: 541631262
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$279,602

$46,732+498.3%

$156,551+78.6%

$55,167+406.8%

Participation rate

70.2%

65.8%+4.4pp

84.0%-13.9pp

69.0%+1.2pp

Annual return

7.68%

17.72%-10.0pp

32.23%-24.5pp

169.23%-161.6pp

Employer contribution / active EE

$7,864

$2,105+273.6%

$5,501+42.9%

$1,963+300.7%

Participant deferral / active EE

$5,083

$2,204+130.6%

$4,871+4.3%

$3,054+66.4%

Admin fee / account holder

$1,501

$418+258.7%

$13,028-88.5%

$504+197.8%

Provider

Service type

Compensation

WELLS FARGO BANK, N.A.2+ years

Filed as: WELLS FARGO ADVISORS, LLC

Service code 27

401 S TRYON ST. · CHARLOTTE, NC 28081

Advisory (Plan)

$69,017

WELLS FARGO BANK, N.A.1 year

Filed as: WELLS FARGO CLEARING SERVICES LLC

Service code 55

1021 E CARY STREET SUITE 2200 · RICHOND, VA 232181745

Other Commissions

$4,451

MMA SECURITIES LLC2+ years

Filed as: MARSH & MCLENNAN AGENCY LLC

Service code 13

P O BOX 12748 · ROANOKE, VA 240282748

Contract Administrator

$2,000

AMERICAN FUNDS2+ years

Filed as: CAPITAL RESEARCH AND MANAGEMENT CO

Service code 64

333 SOUTH HOPE STREET · LOS ANGELES, CA 90071

Recordkeeping Fees

$1,894

VIRGINIA CARDIOVASCULAR SPECIALISTS, PC 401K PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

VIRGINIA CARDIOVASCULAR SPECIALISTS, PC 401K 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