Retirement plan

ROYAL OAK MEDICAL ASSOCIATES PC 401(K) PROFIT SHARING PLAN AND TRUST

Name: ROYAL OAK MEDICAL ASSOCIATES, P.C. - ROYAL OAK MEDICAL ASSOCIATES PC 401(K) PROFIT SHARING PLAN AND TRUST (2024) Form 5500
Creator: ROYAL OAK MEDICAL ASSOCIATES, P.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ROYAL OAK MEDICAL ASSOCIATES PC 401(K) PROFIT SHARING PLAN AND TRUST, ROYAL OAK MEDICAL ASSOCIATES, P.C.

ROYAL OAK MEDICAL ASSOCIATES, P.C.EIN 54-1580549Plan #001PY 2024

C/O 424 GRAVES MILL ROAD - LYNCHBURG, VA 24502434-846-8700LinkedIn1-10 employees

Prospect flagsLow returnsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$4.2M

-24.0% from 2023

Total participants

-41.4% from 2023

Average account balance

$280,764

+46.9% from 2023

Annual return

-25.49%

-40.11 pp from 2023

Benchmarks

See 109,298 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort109,298 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.21M

Not enough data

1 years with asset history on file

Average account balance

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

$281K

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.

150.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$109K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

-25.49%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2287

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 codes3D2E2G2J2R2T

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.

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

$34K

$3430 / participant

Other / not subdivided$34K100.0%

% of EOY assets

0.814%

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

$280,764

$183,516+53.0%

$155,534+80.5%

$145,884+92.5%

Participation rate

80.0%

82.7%-2.7pp

78.2%+1.8pp

80.3%-0.3pp

Annual return

-25.49%

61.43%-86.9pp

64.92%-90.4pp

551.85%-577.3pp

Employer contribution / active EE

$2,993

$5,315-43.7%

$4,675-36.0%

$4,662-35.8%

Participant deferral / active EE

$7,932

$6,467+22.7%

$5,630+40.9%

$6,690+18.6%

Admin fee / account holder

$2,287

$19,293-88.1%

$15,900-85.6%

$13,392-82.9%

ROYAL OAK MEDICAL ASSOCIATES PC 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ROYAL OAK MEDICAL ASSOCIATES PC 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