Retirement plan

BOICE-WILLIS CLINIC, P.A. 401(K) AND PROFIT SHARING PLAN

Name: BOICE-WILLIS CLINIC, P.A. - BOICE-WILLIS CLINIC, P.A. 401(K) AND PROFIT SHARING PLAN (2024) Form 5500
Creator: BOICE-WILLIS CLINIC, P.A.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BOICE-WILLIS CLINIC, P.A. 401(K) AND PROFIT SHARING PLAN, BOICE-WILLIS CLINIC, P.A.

BOICE-WILLIS CLINIC, P.A.EIN 56-1025986Plan #003PY 2024

P.O. BOX 7200, 3221 ZEBULON - ROCKY MOUNT, NC 27804252-937-0200

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$97M

+14.6% from 2023

Total participants

394

-1.3% from 2023

Average account balance

$271,682

+15.9% from 2023

Annual return

14.60%

-2.42 pp from 2023

Benchmarks

See 4,124 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort4,124 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$96.99M

Not enough data

1 years with asset history on file

Average account balance

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

$272K

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.

357

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.

87.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.62M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+14.60%

Not enough data

1 years with return on file

Admin fee / account holder

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

$409

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 7 by compensation

Provider	Service type	Compensation
MODERA WEALTH MANAGEMENT LLC2 years Service code 26 · EIN 27-3774197	Advisory (Participants)	$73,821
CURI WEALTH MANAGEMENT LLC1 year Filed as: CURI RMB CAPITAL LLC Service code 26 · EIN 59-3792751	Advisory (Participants)	$44,671
WHITENER CAPITAL MANAGEMENT IN7 years Service code 26 · EIN 56-1572921	Advisory (Participants)	$19,994
CHARLES SCHWAB & CO., INC.4 years Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC Service code 15 · EIN 34-1479833	Recordkeeping	$6,058
CHARLES SCHWAB & CO., INC.5 years Service code 33 · EIN 94-1737782	Shareholder servicing fees; Float rev...	$1,141
CHARLES SCHWAB & CO., INC.2 years Filed as: CHARLES SCHWAB & CO.INC. AND AFFIL Service code 59	Shareholder Servicing	$0
CHARLES SCHWAB & CO., INC.5 years Filed as: CHARLES SCHWAB TRUST BANK Service code 25 · EIN 82-3967259	Directed Trustee	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2R2T3D

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.
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

2 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$146K

$503 / participant

Recordkeeping$4K2.8%
Investment mgmt$140K96.1%
Other / not subdivided$2K1.1%

% of EOY assets

0.150%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: WILLIAMS OVERMAN PIERCE
Auditor EIN: 561031342
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$271,682

$50,860+434.2%

$155,574+74.6%

$77,714+249.6%

Participation rate

87.2%

63.1%+24.1pp

78.2%+9.0pp

70.6%+16.7pp

Annual return

14.60%

34.86%-20.3pp

64.87%-50.3pp

31.26%-16.7pp

Employer contribution / active EE

$7,550

$1,991+279.3%

$4,676+61.5%

$2,727+176.9%

Participant deferral / active EE

$4,917

$2,825+74.1%

$5,629-12.7%

$4,649+5.8%

Admin fee / account holder

$409

$436-6.4%

$15,914-97.4%

$433-5.7%

Provider

Service type

Compensation

MODERA WEALTH MANAGEMENT LLC2 years

Service code 26 · EIN 27-3774197

Advisory (Participants)

$73,821

CURI WEALTH MANAGEMENT LLC1 year

Filed as: CURI RMB CAPITAL LLC

Service code 26 · EIN 59-3792751

Advisory (Participants)

$44,671

WHITENER CAPITAL MANAGEMENT IN7 years

Service code 26 · EIN 56-1572921

Advisory (Participants)

$19,994

CHARLES SCHWAB & CO., INC.4 years

Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC

Service code 15 · EIN 34-1479833

Recordkeeping

$6,058

CHARLES SCHWAB & CO., INC.5 years

Service code 33 · EIN 94-1737782

Shareholder servicing fees; Float rev...

$1,141

CHARLES SCHWAB & CO., INC.2 years

Filed as: CHARLES SCHWAB & CO.INC. AND AFFIL

Service code 59

Shareholder Servicing

CHARLES SCHWAB & CO., INC.5 years

Filed as: CHARLES SCHWAB TRUST BANK

Service code 25 · EIN 82-3967259

Directed Trustee

BOICE-WILLIS CLINIC, P.A. 401(K) AND PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BOICE-WILLIS CLINIC, P.A. 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