Retirement plan

MEDICAL ASSOCIATION OF GEORGIA MULTIPLE EMPLOYER 401(K) PROFIT SHARING PLAN

Name: MEDICAL ASSOCIATION OF GEORGIA - MEDICAL ASSOCIATION OF GEORGIA MULTIPLE EMPLOYER 401(K) PROFIT SHARING PLAN (2022) Form 5500
Creator: MEDICAL ASSOCIATION OF GEORGIA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MEDICAL ASSOCIATION OF GEORGIA MULTIPLE EMPLOYER 401(K) PROFIT SHARING PLAN, MEDICAL ASSOCIATION OF GEORGIA

MEDICAL ASSOCIATION OF GEORGIAEIN 58-0605267Plan #002PY 2022

1849 THE EXCHANGE SUITE 200 - ATLANTA, GA 30339678-303-9290

Prospect flagsHigh feesFailed to transmit contributions

Top hat statement on fileNQDC

Filed May 23, 2005 (most recent of 2 filings on file)

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$91.8M

-16.9% from 2021

Total participants

756

-6.4% from 2021

Average account balance

$129,789

-10.9% from 2021

Annual return

-16.81%

-35.66 pp from 2021

Benchmarks

See 934 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants250-999

Cohort934 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$47.76M

Not enough data

1 years with asset history on file

Average account balance

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

$88K

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.

540

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.

68.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.51M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

-56.89%

Not enough data

1 years with return on file

Admin fee / account holder

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

$425

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 4 by compensation

Provider	Service type	Compensation
AMERITAS LIFE INSURANCE CORP1 year Filed as: AMERITAS Service code 12 · EIN 47-0098400	Recordkeeping fees; Other fees; Other...	$236,702
ACG ADVISORY SERVICES1 year Filed as: ACG WEALTH, INC. Service code 26 · EIN 22-3857582	Advisory (Participants)	$190,270
CHARLES SCHWAB & CO., INC.1 year Filed as: CHARLES SCHWAB BANK Service code 19 · EIN 82-3967259	Securities Custodian	$7,055
CHARLES SCHWAB & CO., INC.3 years Filed as: CHARLES SCHWAB TRUST BANK Service code 19	Securities Custodian	$0

Plan features & details

Pension benefit codes2A2E2F2G2J2K2R2S2T3D2U

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

2 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).

Expense breakdown

Schedule H Part II

Admin total

$434K

$713 / participant

Investment mgmt$190K43.8%
Contract admin$244K56.2%

% of EOY assets

0.473%

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: MAULDIN & JENKINS, LLC
Auditor EIN: 580692043
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$129,789

$47,766+171.7%

$82,744+56.9%

$64,819+100.2%

Participation rate

92.0%

67.7%+24.3pp

72.6%+19.4pp

71.5%+20.5pp

Annual return

-16.81%

-13.06%-3.8pp

702.22%-719.0pp

32.84%-49.7pp

Employer contribution / active EE

$6,544

$2,182+200.0%

$3,008+117.5%

$2,507+161.0%

Participant deferral / active EE

$5,261

$3,332+57.9%

$4,395+19.7%

$4,311+22.0%

Admin fee / account holder

$614

$143+329.4%

$5,325-88.5%

$188+226.8%

Provider

Service type

Compensation

AMERITAS LIFE INSURANCE CORP1 year

Filed as: AMERITAS

Service code 12 · EIN 47-0098400

Recordkeeping fees; Other fees; Other...

$236,702

ACG ADVISORY SERVICES1 year

Filed as: ACG WEALTH, INC.

Service code 26 · EIN 22-3857582

Advisory (Participants)

$190,270

CHARLES SCHWAB & CO., INC.1 year

Filed as: CHARLES SCHWAB BANK

Service code 19 · EIN 82-3967259

Securities Custodian

$7,055

CHARLES SCHWAB & CO., INC.3 years

Filed as: CHARLES SCHWAB TRUST BANK

Service code 19

Securities Custodian

MEDICAL ASSOCIATION OF GEORGIA MULTIPLE EMPLOYER 401(K) PROFIT SHARING PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MEDICAL ASSOCIATION OF GEORGIA MULTIPLE EMPLOYER 401(K) PROFIT SHARING PLAN

Top hat statement on fileNQDC

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