Retirement plan

MORGANTON EYE PHYSICIANS 401(K) PROFIT SHARING PLA

Name: MORGANTON EYE PHYSICIANS PA - MORGANTON EYE PHYSICIANS 401(K) PROFIT SHARING PLA (2024) Form 5500
Creator: MORGANTON EYE PHYSICIANS PA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MORGANTON EYE PHYSICIANS 401(K) PROFIT SHARING PLA, MORGANTON EYE PHYSICIANS PA

MORGANTON EYE PHYSICIANS PAEIN 56-1109834Plan #001PY 2024

335 EAST PARKER ROAD - MORGANTON, NC 286555112828-433-1000LinkedIn11-50 employeesmedical practice

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$28.8M

+13.4% from 2023

Total participants

159

+1.3% from 2023

Average account balance

$223,421

+16.9% from 2023

Annual return

13.12%

+2.49 pp from 2023

Benchmarks

See 6,019 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort6,019 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$28.82M

Not enough data

1 years with asset history on file

Average account balance

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

$223K

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.

129

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.

78.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.02M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+13.12%

Not enough data

1 years with return on file

Admin fee / account holder

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

$507

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 2 by compensation

Provider	Service type	Compensation
TYNER CAPITAL MANAGEMENT10+ years Service code 28 · EIN 62-1754544 633 CHESTNUT STREET, SUITE 600 · CHATTANOOGA, TN 37450	Investment Management	$47,139
MORGANTON EYE PHYSICIANS PA10+ years Service code 99 · EIN 56-1109834 335 EAST PARKER ROAD · MORGANTON, NC 28655	Other Fees	$16,946

Plan features & details

Pension benefit codes2E2H2J2K2R3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$65K

$467 / participant

Investment mgmt$65K100.0%

% of EOY assets

0.227%

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: DAVIDSON, HOLLAND, WHITESELL & CO.
Auditor EIN: 561706742
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$223,421

$55,472+302.8%

$155,567+43.6%

$74,546+199.7%

Participation rate

78.6%

61.9%+16.7pp

78.2%+0.4pp

67.2%+11.4pp

Annual return

13.12%

268.72%-255.6pp

64.74%-51.6pp

1366.03%-1352.9pp

Employer contribution / active EE

$2,576

$2,269+13.5%

$4,674-44.9%

$2,624-1.9%

Participant deferral / active EE

$4,705

$2,838+65.8%

$5,628-16.4%

$4,347+8.2%

Admin fee / account holder

$507

$1,743-70.9%

$15,916-96.8%

$1,944-73.9%

Provider

Service type

Compensation

TYNER CAPITAL MANAGEMENT10+ years

Service code 28 · EIN 62-1754544

633 CHESTNUT STREET, SUITE 600 · CHATTANOOGA, TN 37450

Investment Management

$47,139

MORGANTON EYE PHYSICIANS PA10+ years

Service code 99 · EIN 56-1109834

335 EAST PARKER ROAD · MORGANTON, NC 28655

Other Fees

$16,946

MORGANTON EYE PHYSICIANS 401(K) PROFIT SHARING PLA

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MORGANTON EYE PHYSICIANS 401(K) PROFIT SHARING PLA

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