Retirement plan

CENTRAL GEORGIA HEART CENTER, PC PROFIT SHARING PLAN

Name: CENTRAL GEORGIA HEART CENTER, PC - CENTRAL GEORGIA HEART CENTER, PC PROFIT SHARING PLAN (2024) Form 5500
Creator: CENTRAL GEORGIA HEART CENTER, PC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CENTRAL GEORGIA HEART CENTER, PC PROFIT SHARING PLAN, CENTRAL GEORGIA HEART CENTER, PC

CENTRAL GEORGIA HEART CENTER, PCEIN 58-1581693Plan #001PY 2024

1062 FORSYTH STREET, SUITE 1B - MACON, GA 31201478-741-1208centralgaheart.comLinkedIn51-200 employeesmedical practice

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$11M

+23.1% from 2023

Total participants

180

+11.1% from 2023

Average account balance

$61,321

+10.1% from 2023

Annual return

12.51%

-3.71 pp from 2023

Benchmarks

See 5,998 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,998 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.04M

Not enough data

1 years with asset history on file

Average account balance

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

$61K

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.

180

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

$1.28M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+12.51%

Not enough data

1 years with return on file

Admin fee / account holder

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

$516

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
MERRILL LYNCH PIERCE FENNER & SMITH4 years Filed as: MERRILL LYNCH Service code 26 · EIN 13-5674085	Advisory (Participants)	$25,446
JOHN HANCOCK LIFE INSURANCE COMPANY4 years Filed as: JOHN HANCOCK LIFE INSURANCE CO Service code 15 · EIN 01-0233346	Recordkeeping	$450

Plan features & details

Pension benefit codes2A2E2J2R2G

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.
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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.

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

$93K

$678 / participant

Contract admin$93K100.0%

% of EOY assets

0.841%

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: CLH CPAS, LLC.
Auditor EIN: 843967180
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$61,321

$55,437+10.6%

$155,534-60.6%

$74,459-17.6%

Participation rate

100.0%

61.9%+38.1pp

78.2%+21.8pp

67.2%+32.8pp

Annual return

12.51%

269.58%-257.1pp

64.92%-52.4pp

1369.70%-1357.2pp

Employer contribution / active EE

$5,824

$2,266+157.0%

$4,675+24.6%

$2,626+121.8%

Participant deferral / active EE

$3,511

$2,837+23.7%

$5,630-37.6%

$4,350-19.3%

Admin fee / account holder

$516

$1,742-70.4%

$15,900-96.8%

$1,945-73.5%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH4 years

Filed as: MERRILL LYNCH

Service code 26 · EIN 13-5674085

Advisory (Participants)

$25,446

JOHN HANCOCK LIFE INSURANCE COMPANY4 years

Filed as: JOHN HANCOCK LIFE INSURANCE CO

Service code 15 · EIN 01-0233346

Recordkeeping

$450

CENTRAL GEORGIA HEART CENTER, PC PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CENTRAL GEORGIA HEART CENTER, PC 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