Retirement plan

CAROLINA DIGESTIVE HEALTH ASSOCIATES, P.A. PROFIT SHARING & 401(K) PLAN

Name: CAROLINA DIGESTIVE HEALTH ASSOCIATES, P.A. - CAROLINA DIGESTIVE HEALTH ASSOCIATES, P.A. PROFIT SHARING & 401(K) PLAN (2023) Form 5500
Creator: CAROLINA DIGESTIVE HEALTH ASSOCIATES, P.A.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CAROLINA DIGESTIVE HEALTH ASSOCIATES, P.A. PROFIT SHARING & 401(K) PLAN, CAROLINA DIGESTIVE HEALTH ASSOCIATES, P.A.

CAROLINA DIGESTIVE HEALTH ASSOCIATES, P.A.EIN 56-1335864Plan #002PY 2023

3426 TORINGDON WAY, SUITE 108 - CHARLOTTE, NC 28277704-970-4773carolinadigestive.comLinkedIn51-200 employeesmedical practice

Prospect flagsLow returnsHigh feesLow employer contribution

How to read this page

Total assets (EOY)

$30.1M

-8.7% from 2022

Total participants

126

-1.6% from 2022

Average account balance

$244,368

-5.7% from 2022

Annual return

12.85%

+27.41 pp from 2022

Benchmarks

See 5,719 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,719 peers

Snapshot2023

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$30.21M

Not enough data

1 years with asset history on file

Average account balance

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

$219K

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.

138

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.69M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

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

+14.50%

Not enough data

1 years with return on file

Admin fee / account holder

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

$642

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

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
MERRILL LYNCH PIERCE FENNER & SMITH3 years Service code 17 · EIN 13-5674085	Pension Consulting	$64,929
PRINCIPAL LIFE INSURANCE COMPANY8+ years Service code 13 · EIN 42-0127290	Contract Administrator	$22,605
NOVA 401(K) ASSOCIATES3 years Filed as: NOVA 401K ASSOCIATES Service code 49 · EIN 20-1181458	Other Services	$12,890

Plan features & details

Pension benefit codes2A2E2J2K2F2G2T3D

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.
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

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
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.

Expense breakdown

Schedule H Part II

Admin total

$88K

$850 / participant

Investment mgmt$26K29.8%
Contract admin$23K25.8%
Other / not subdivided$39K44.4%

% of EOY assets

0.291%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: PRICE KUBECKA, PLLC
Auditor EIN: 752783674
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$244,368

$61,272+298.8%

$149,673+63.3%

$71,457+242.0%

Participation rate

97.1%

62.5%+34.6pp

78.8%+18.3pp

67.9%+29.2pp

Annual return

12.85%

35.85%-23.0pp

134.42%-121.6pp

28.85%-16.0pp

Employer contribution / active EE

$2,378-100.0%

$4,818-100.0%

$2,588-100.0%

Participant deferral / active EE

$5,441

$2,917+86.5%

$5,680-4.2%

$4,289+26.9%

Admin fee / account holder

$712

$1,261-43.6%

$13,210-94.6%

$1,587-55.2%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH3 years

Service code 17 · EIN 13-5674085

Pension Consulting

$64,929

PRINCIPAL LIFE INSURANCE COMPANY8+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$22,605

NOVA 401(K) ASSOCIATES3 years

Filed as: NOVA 401K ASSOCIATES

Service code 49 · EIN 20-1181458

Other Services

$12,890

CAROLINA DIGESTIVE HEALTH ASSOCIATES, P.A. PROFIT SHARING & 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CAROLINA DIGESTIVE HEALTH ASSOCIATES, P.A. PROFIT SHARING & 401(K) 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