Retirement plan

EYE SPECIALISTS OF MID-FLORIDA, P.A. 401(K) PLAN

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

EYE SPECIALISTS OF MID-FLORIDA, P.A.EIN 59-1268685Plan #001PY 2024

407 AVENUE K, SE - WINTER HAVEN, FL 33880863-294-3504eyesfl.comLinkedIn201-500 employeeshospital & health care

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$17.9M

+5.4% from 2023

Total participants

242

+6.1% from 2023

Average account balance

$74,123

-0.7% from 2023

Annual return

11.61%

-2.99 pp from 2023

Benchmarks

See 5,993 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,993 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$17.86M

Not enough data

1 years with asset history on file

Average account balance

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

$74K

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.

241

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.

99.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$963K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+11.61%

Not enough data

1 years with return on file

Admin fee / account holder

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

$525

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 5 by compensation

Provider	Service type	Compensation
ADVUS FINANCIAL PARTNERS LLC4 years Service code 27 1525 INTERNATIONAL PKWY · LAKE MARY, FL 32746	Advisory (Plan)	$33,328
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$32,556
BUNTING TRIPP & INGLEY LLP8 years Service code 10 1525 INTERNATIONAL PKWY · LAKE MARY, FL 32746	Accounting	$13,150
DEFINITI LLC4 years Service code 13 2201 TIMBERLOCH PL · THE WOODLANDS, TX 77380	Contract Administrator	$10,464
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$2,774

Plan features & details

Pension benefit codes2A2E2F2G2J2K2T3D3H

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.
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

$126K

$767 / participant

Contract admin$126K100.0%

% of EOY assets

0.708%

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: BUNTING, TRIPP & INGLEY, LLP
Auditor EIN: 590673514
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$74,123

$55,470+33.6%

$155,556-52.3%

$74,478-0.5%

Participation rate

99.4%

61.9%+37.5pp

78.2%+21.2pp

67.2%+32.2pp

Annual return

11.61%

269.80%-258.2pp

64.84%-53.2pp

1370.56%-1359.0pp

Employer contribution / active EE

$2,279

$2,267+0.5%

$4,675-51.3%

$2,626-13.2%

Participant deferral / active EE

$3,559

$2,838+25.4%

$5,631-36.8%

$4,350-18.2%

Admin fee / account holder

$525

$1,744-69.9%

$15,885-96.7%

$1,946-73.0%

Provider

Service type

Compensation

ADVUS FINANCIAL PARTNERS LLC4 years

Service code 27

1525 INTERNATIONAL PKWY · LAKE MARY, FL 32746

Advisory (Plan)

$33,328

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$32,556

BUNTING TRIPP & INGLEY LLP8 years

Service code 10

1525 INTERNATIONAL PKWY · LAKE MARY, FL 32746

Accounting

$13,150

DEFINITI LLC4 years

Service code 13

2201 TIMBERLOCH PL · THE WOODLANDS, TX 77380

Contract Administrator

$10,464

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$2,774

EYE SPECIALISTS OF MID-FLORIDA, P.A. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

EYE SPECIALISTS OF MID-FLORIDA, 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