Retirement plan

DIAGNOSTIC RADIOLOGY CONSULTANTS, P.A. PROFIT SHARING PLAN

Name: DIAGNOSTIC RADIOLOGY CONSULTANTS, P.A. - DIAGNOSTIC RADIOLOGY CONSULTANTS, P.A. PROFIT SHARING PLAN (2020) Form 5500
Creator: DIAGNOSTIC RADIOLOGY CONSULTANTS, P.A.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, DIAGNOSTIC RADIOLOGY CONSULTANTS, P.A. PROFIT SHARING PLAN, DIAGNOSTIC RADIOLOGY CONSULTANTS, P.A.

DIAGNOSTIC RADIOLOGY CONSULTANTS, P.A.EIN 58-1090514Plan #003PY 2020

1604 GUNBARREL ROAD - CHATTANOOGA, TN 37421423-893-7226drcradiology.comLinkedIn51-200 employeesmedical practice

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$14.9M

+4.5% from 2019

Total participants

111

-3.5% from 2019

Average account balance

$135,018

+9.3% from 2019

Annual return

15.38%

-7.07 pp from 2019

Benchmarks

See 18,640 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort18,640 peers

Snapshot2020

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Analytics

Total assets (EOY)

Plan-year ending balance

$27.36M

Not enough data

1 years with asset history on file

Average account balance

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

$151K

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.

181

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.

98.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.55M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+17.75%

Not enough data

1 years with return on file

Admin fee / account holder

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

$667

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
MERRILL LYNCH PIERCE FENNER & SMITH2 years Filed as: MERRILL LYNCH Service code 17 · EIN 13-5674085	Pension Consulting	$39,760
PRINCIPAL LIFE INSURANCE COMPANY2 years Service code 13 · EIN 42-0127290	Contract Administrator	$23,416
ERISA SERVICES, INC.2 years Filed as: ERISA SERVICES INC Service code 13	Contract Administrator	$4,128
ERISA SERVICES, INC.1 year Service code 13 · EIN 62-1200951	Contract Administrator	$2,213

Plan features & details

Pension benefit codes2A2E2F2G2J2T3D3H

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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

1 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$65K

$759 / participant

Investment mgmt$13K20.3%
Contract admin$26K39.1%
Other / not subdivided$27K40.6%

% of EOY assets

0.440%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.

Auditor firm: JAMES UNDERWOOD CPA, PLLC.
Auditor EIN: 453976013
Audit fees: (not subdivided)
Opinion code: Disclaimer

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$135,018

$91,190+48.1%

$178,490-24.4%

$79,858+69.1%

Participation rate

98.8%

69.2%+29.6pp

81.9%+16.9pp

69.6%+29.2pp

Annual return

15.38%

24.19%-8.8pp

151.07%-135.7pp

31.71%-16.3pp

Employer contribution / active EE

$4,633

$3,256+42.3%

$5,011-7.5%

$2,471+87.5%

Participant deferral / active EE

$3,227

$3,236-0.3%

$5,202-38.0%

$3,740-13.7%

Admin fee / account holder

$594

$6,751-91.2%

$13,984-95.8%

$5,306-88.8%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH2 years

Filed as: MERRILL LYNCH

Service code 17 · EIN 13-5674085

Pension Consulting

$39,760

PRINCIPAL LIFE INSURANCE COMPANY2 years

Service code 13 · EIN 42-0127290

Contract Administrator

$23,416

ERISA SERVICES, INC.2 years

Filed as: ERISA SERVICES INC

Service code 13

Contract Administrator

$4,128

ERISA SERVICES, INC.1 year

Service code 13 · EIN 62-1200951

Contract Administrator

$2,213

DIAGNOSTIC RADIOLOGY CONSULTANTS, P.A. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

DIAGNOSTIC RADIOLOGY CONSULTANTS, P.A. 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