Retirement plan

PHYSICIANS CARE OF VIRGINIA, P.C. 401(K) AND PROFIT SHARING PLAN

Name: PHYSICIANS CARE OF VIRGINIA, P.C. - PHYSICIANS CARE OF VIRGINIA, P.C. 401(K) AND PROFIT SHARING PLAN (2019) Form 5500
Creator: PHYSICIANS CARE OF VIRGINIA, P.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PHYSICIANS CARE OF VIRGINIA, P.C. 401(K) AND PROFIT SHARING PLAN, PHYSICIANS CARE OF VIRGINIA, P.C.

PHYSICIANS CARE OF VIRGINIA, P.C.EIN 54-1769283Plan #001PY 2019

2602 FRANKLIN ROAD - ROANOKE, VA 24014540-344-1400yelp.com/biz/physicians-care-of-virginia-patient-billing-roanokeLinkedIn51-200 employeeshospital & health care

Prospect flagsLow returnsHigh feesHigh assets / participantFailed to transmit contributions

How to read this page

Total assets (EOY)

$29M

-1.9% from 2018

Total participants

107

-19.5% from 2018

Average account balance

$273,921

+20.3% from 2018

Annual return

14.17%

+17.38 pp from 2018

Benchmarks

See 18,452 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort18,452 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$22.94M

Not enough data

1 years with asset history on file

Average account balance

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

$314K

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.

112.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.01M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+11.56%

Not enough data

1 years with return on file

Admin fee / account holder

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

$109681

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

Top 2 by compensation

Provider	Service type	Compensation
WELLS FARGO BANK, N.A.5+ years Service code 15 · EIN 94-1347393	Recordkeeping	$29,949
WELLS FARGO BANK, N.A.3 years Filed as: WELLS FARGO ADVISORS, LLC Service code 27 · EIN 34-1542819	Advisory (Plan)	$9,412

Plan features & details

Pension benefit codes2A2E2F2G2J2K2R

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.

Opportunity flags

4 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.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$44K

$599 / participant

Other / not subdivided$44K100.0%

% of EOY assets

0.153%

all-in expense ratio

Categories reported

0 / 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: BROWN, EDWARDS & COMPANY LLP
Auditor EIN: 540504608
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$273,921

$85,169+221.6%

$172,755+58.6%

$72,983+275.3%

Participation rate

98.6%

70.1%+28.6pp

82.6%+16.0pp

69.5%+29.2pp

Annual return

14.17%

27.32%-13.2pp

802.94%-788.8pp

81.01%-66.8pp

Employer contribution / active EE

$8,158

$3,324+145.4%

$5,144+58.6%

$2,440+234.4%

Participant deferral / active EE

$5,375

$3,260+64.9%

$5,198+3.4%

$3,608+49.0%

Admin fee / account holder

$418

$5,880-92.9%

$13,955-97.0%

$5,124-91.8%

Provider

Service type

Compensation

WELLS FARGO BANK, N.A.5+ years

Service code 15 · EIN 94-1347393

Recordkeeping

$29,949

WELLS FARGO BANK, N.A.3 years

Filed as: WELLS FARGO ADVISORS, LLC

Service code 27 · EIN 34-1542819

Advisory (Plan)

$9,412

PHYSICIANS CARE OF VIRGINIA, P.C. 401(K) AND PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PHYSICIANS CARE OF VIRGINIA, P.C. 401(K) AND 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