Retirement plan

STRAND PHYSICIAN SPECIALISTS, P.A. 401(K) PLAN

Name: STRAND PHYSICIAN SPECIALISTS, P.A. - STRAND PHYSICIAN SPECIALISTS, P.A. 401(K) PLAN (2024) Form 5500
Creator: STRAND PHYSICIAN SPECIALISTS, P.A.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, STRAND PHYSICIAN SPECIALISTS, P.A. 401(K) PLAN, STRAND PHYSICIAN SPECIALISTS, P.A.

STRAND PHYSICIAN SPECIALISTS, P.A.dba CAROLINA HEALTH SPECIALISTSEIN 57-0963173Plan #001PY 2024

3361 HWY 9 EAST - LITTLE RIVER, SC 29566843-839-4436LinkedIn51-200 employees

Prospect flagsHigh feesLow participationHigh assets / participantFailed to transmit contributions

How to read this page

Total assets (EOY)

$39M

+8.6% from 2023

Total participants

208

+1.0% from 2023

Average account balance

$291,301

+21.6% from 2023

Annual return

14.10%

-4.06 pp from 2023

Benchmarks

See 6,007 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort6,007 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$39.03M

Not enough data

1 years with asset history on file

Average account balance

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

$291K

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.

134

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.

57.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.72M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+14.10%

Not enough data

1 years with return on file

Admin fee / account holder

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

$901

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
SOUTH STATE RPS8 years Service code 15 · EIN 27-1803704	Recordkeeping	$106,175
SMITH SAPP BOOKHOUT CRUMPLER2 years Filed as: SMITH SAPP BOOKOUT CRUMPLER Service code 10 · EIN 57-0801130	Accounting	$14,500

Plan features & details

Pension benefit codes2A2E2F2G2J2K2R2T3D

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.
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

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$121K

$698 / participant

Recordkeeping$106K88.0%
Other / not subdivided$15K12.0%

% of EOY assets

0.309%

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: SMITH SAPP BOOKHOUT CRUMPLER
Auditor EIN: 570801130
Audit fees: $14,500
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$291,301

$55,446+425.4%

$155,574+87.2%

$74,429+291.4%

Participation rate

57.2%

61.9%-4.7pp

78.2%-21.0pp

67.2%-10.0pp

Annual return

14.10%

269.20%-255.1pp

64.87%-50.8pp

1368.38%-1354.3pp

Employer contribution / active EE

$4,331

$2,266+91.1%

$4,676-7.4%

$2,625+65.0%

Participant deferral / active EE

$5,600

$2,836+97.5%

$5,629-0.5%

$4,348+28.8%

Admin fee / account holder

$901

$1,743-48.3%

$15,914-94.3%

$1,944-53.7%

Provider

Service type

Compensation

SOUTH STATE RPS8 years

Service code 15 · EIN 27-1803704

Recordkeeping

$106,175

SMITH SAPP BOOKHOUT CRUMPLER2 years

Filed as: SMITH SAPP BOOKOUT CRUMPLER

Service code 10 · EIN 57-0801130

Accounting

$14,500

STRAND PHYSICIAN SPECIALISTS, P.A. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

STRAND PHYSICIAN SPECIALISTS, P.A. 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