Retirement plan

WAKE INTERNAL MEDICINE CONSULTANTS INC. 401K PROFIT SHARING PLAN

Name: WAKE INTERNAL MEDICINE CONSULTANTS, INC. - WAKE INTERNAL MEDICINE CONSULTANTS INC. 401K PROFIT SHARING PLAN (2024) Form 5500
Creator: WAKE INTERNAL MEDICINE CONSULTANTS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WAKE INTERNAL MEDICINE CONSULTANTS INC. 401K PROFIT SHARING PLAN, WAKE INTERNAL MEDICINE CONSULTANTS, INC.

WAKE INTERNAL MEDICINE CONSULTANTS, INC.EIN 56-1231430Plan #002PY 2024

3237 BLUE RIDGE RD - RALEIGH, NC 27612919-645-3053wakeinternalmedicine.comLinkedIn51-200 employeesmedical practice

Prospect flagsHigh feesHigh assets / participantFailed to transmit contributions

How to read this page

Total assets (EOY)

$45.9M

+20.0% from 2023

Total participants

194

+4.9% from 2023

Average account balance

$286,681

+16.2% from 2023

Annual return

15.80%

-0.64 pp from 2023

Benchmarks

See 6,010 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort6,010 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$45.87M

Not enough data

1 years with asset history on file

Average account balance

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

$287K

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.

160

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.

77.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.12M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+15.80%

Not enough data

1 years with return on file

Admin fee / account holder

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

$518

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 3 by compensation

Provider	Service type	Compensation
ASCENSUS LLC4 years Service code 15 · EIN 11-3665754	Recordkeeping	$50,111
CURI WEALTH MANAGEMENT LLC4 years Service code 27 700 SPRING FOREST RD · RALEIGH, NC 27609	Advisory (Plan)	$21,105
CREATIVE PLANNING LLC1 year Filed as: CREATIVE PLANNING Service code 27 5454 W 110TH STREET · OVERLAND PARK, KS 66211	Advisory (Plan)	$11,622

Plan features & details

Pension benefit codes2E3D2G2J2K2R2F2T

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

3 tripped

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

$83K

$545 / participant

Investment mgmt$33K39.5%
Contract admin$50K60.5%

% of EOY assets

0.181%

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: BRC
Auditor EIN: 560571159
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$286,681

$55,423+417.3%

$155,602+84.2%

$74,400+285.3%

Participation rate

77.6%

61.9%+15.7pp

78.2%-0.6pp

67.2%+10.4pp

Annual return

15.80%

269.07%-253.3pp

64.81%-49.0pp

1367.51%-1351.7pp

Employer contribution / active EE

$8,663

$2,266+282.4%

$4,675+85.3%

$2,624+230.1%

Participant deferral / active EE

$5,312

$2,835+87.4%

$5,629-5.6%

$4,348+22.2%

Admin fee / account holder

$518

$1,744-70.3%

$15,923-96.7%

$1,944-73.4%

Provider

Service type

Compensation

ASCENSUS LLC4 years

Service code 15 · EIN 11-3665754

Recordkeeping

$50,111

CURI WEALTH MANAGEMENT LLC4 years

Service code 27

700 SPRING FOREST RD · RALEIGH, NC 27609

Advisory (Plan)

$21,105

CREATIVE PLANNING LLC1 year

Filed as: CREATIVE PLANNING

Service code 27

5454 W 110TH STREET · OVERLAND PARK, KS 66211

Advisory (Plan)

$11,622

WAKE INTERNAL MEDICINE CONSULTANTS INC. 401K PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WAKE INTERNAL MEDICINE CONSULTANTS INC. 401K 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