Retirement plan

RALEIGH MEDICAL GROUP, P.A. 401(K) PROFIT SHARING PLAN

Name: RALEIGH MEDICAL GROUP, P.A. - RALEIGH MEDICAL GROUP, P.A. 401(K) PROFIT SHARING PLAN (2020) Form 5500
Creator: RALEIGH MEDICAL GROUP, P.A.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RALEIGH MEDICAL GROUP, P.A. 401(K) PROFIT SHARING PLAN, RALEIGH MEDICAL GROUP, P.A.

RALEIGH MEDICAL GROUP, P.A.EIN 56-1166754Plan #001PY 2020

3521 HAWORTH DRIVE - RALEIGH, NC 27609919-341-3619raleighmedicalgroup.comLinkedIn51-200 employeeshospital & health care

Prospect flagsLow returnsHigh feesFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$27.6M

+17.1% from 2019

Total participants

285

+4.0% from 2019

Average account balance

$122,031

+12.4% from 2019

Annual return

9.12%

-10.27 pp from 2019

Benchmarks

See 5,415 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,415 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$34.97M

Not enough data

1 years with asset history on file

Average account balance

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

$132K

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.

265

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.

66.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.36M

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

+12.32%

Not enough data

1 years with return on file

Admin fee / account holder

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

$331

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
NWPS1 year Service code 15 · EIN 91-2090931 300 EAST JOPPA ROAD · TOWSON, MD 21286	Recordkeeping	$37,424
MILLENNIUM INVESTMENT & RETIREMENT6+ years Service code 31 13850 BALLANTYNE CORPORATE PLACE · CHARLOTTE, NC 28277	Named fiduciary; Consulting fees; Dir...	$30,000
CAPITAL INVESTMENT ADVISORY SERVICE6+ years Service code 26 · EIN 26-3844257 100 E SIX FORKS RD, SUITE 200 · RALEIGH, NC 27609	Advisory (Participants)	$26,875
A.T. ALLEN & COMPANY, LLP6+ years Service code 99 · EIN 56-0119050 2245 GATEWAY ACCESS POINT · RALEIGH, NC 27607	Other Fees	$13,000

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.
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

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).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$107K

$464 / participant

Investment mgmt$27K25.0%
Other / not subdivided$80K75.0%

% of EOY assets

0.389%

all-in expense ratio

Categories reported

1 / 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: A.T. ALLEN & COMPANY, LLP
Auditor EIN: 560119050
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$122,031

$58,888+107.2%

$178,499-31.6%

$73,493+66.0%

Participation rate

74.5%

66.2%+8.2pp

81.9%-7.5pp

70.7%+3.8pp

Annual return

9.12%

24.86%-15.7pp

151.10%-142.0pp

28.51%-19.4pp

Employer contribution / active EE

$6,234

$2,236+178.8%

$5,011+24.4%

$2,270+174.6%

Participant deferral / active EE

$5,183

$2,568+101.9%

$5,202-0.4%

$3,740+38.6%

Admin fee / account holder

$475

$400+18.6%

$13,986-96.6%

$513-7.5%

Provider

Service type

Compensation

NWPS1 year

Service code 15 · EIN 91-2090931

300 EAST JOPPA ROAD · TOWSON, MD 21286

Recordkeeping

$37,424

MILLENNIUM INVESTMENT & RETIREMENT6+ years

Service code 31

13850 BALLANTYNE CORPORATE PLACE · CHARLOTTE, NC 28277

Named fiduciary; Consulting fees; Dir...

$30,000

CAPITAL INVESTMENT ADVISORY SERVICE6+ years

Service code 26 · EIN 26-3844257

100 E SIX FORKS RD, SUITE 200 · RALEIGH, NC 27609

Advisory (Participants)

$26,875

A.T. ALLEN & COMPANY, LLP6+ years

Service code 99 · EIN 56-0119050

2245 GATEWAY ACCESS POINT · RALEIGH, NC 27607

Other Fees

$13,000

RALEIGH MEDICAL GROUP, P.A. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RALEIGH MEDICAL GROUP, P.A. 401(K) 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