Retirement plan

ORTHOPAEDIC CLINIC OF DAYTONA BEACH, P.A. 401(K) PROFIT SHARING PLAN

Name: ORTHOPAEDIC CLINIC OF DAYTONA BEACH , P.A. - ORTHOPAEDIC CLINIC OF DAYTONA BEACH, P.A. 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: ORTHOPAEDIC CLINIC OF DAYTONA BEACH , P.A.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ORTHOPAEDIC CLINIC OF DAYTONA BEACH, P.A. 401(K) PROFIT SHARING PLAN, ORTHOPAEDIC CLINIC OF DAYTONA BEACH , P.A.

ORTHOPAEDIC CLINIC OF DAYTONA BEACH , P.A.EIN 59-1281292Plan #005PY 2023

1075 MASON AVENUE - DAYTONA BEACH, FL 321174611386-226-1375LinkedIn11-50 employeeshospital & health care

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$19.6M

+24.7% from 2022

Total participants

186

+31.9% from 2022

Average account balance

$105,444

-7.5% from 2022

Annual return

18.02%

+34.94 pp from 2022

Benchmarks

See 5,719 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,719 peers

Snapshot2023

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Analytics

Total assets (EOY)

Plan-year ending balance

$28.67M

Not enough data

1 years with asset history on file

Average account balance

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

$152K

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.

188

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.

97.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.66M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+17.90%

Not enough data

1 years with return on file

Admin fee / account holder

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

$488

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

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Service providers

Top 5 by compensation

Provider	Service type	Compensation
ADVUS FINANCIAL PARTNERS LLC3 years Service code 27 1525 INTERNATIONAL PKWY · LAKE MARY, FL 32746	Advisory (Plan)	$39,110
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$27,660
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREEN VILLIAGE, CO 80111	Investment Management	$4,527
ECONOMIC GROUP PENSION SERVICES2 years Service code 13 917 WESTERN AMERICA CIRCLE, SUITE 5 · MOBILE, AL 36609	Contract Administrator	$1,725
OTHER1 year Service code 99 UNKNOWN · UNKNOWN, CO 80111	Other Fees	$28

Plan features & details

Pension benefit codes2A2E2F2G2J2T3B3D3H

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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

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

$73K

$522 / participant

Contract admin$73K100.0%

% of EOY assets

0.372%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: CLIFTON LARSON ALLEN, LLP
Auditor EIN: 410746749
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$105,444

$61,272+72.1%

$149,673-29.6%

$71,457+47.6%

Participation rate

100.0%

62.5%+37.5pp

78.8%+21.2pp

67.9%+32.1pp

Annual return

18.02%

35.85%-17.8pp

134.42%-116.4pp

28.85%-10.8pp

Employer contribution / active EE

$4,767

$2,378+100.4%

$4,818-1.1%

$2,588+84.2%

Participant deferral / active EE

$3,938

$2,917+35.0%

$5,680-30.7%

$4,289-8.2%

Admin fee / account holder

$393

$1,261-68.9%

$13,210-97.0%

$1,587-75.3%

Provider

Service type

Compensation

ADVUS FINANCIAL PARTNERS LLC3 years

Service code 27

1525 INTERNATIONAL PKWY · LAKE MARY, FL 32746

Advisory (Plan)

$39,110

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$27,660

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREEN VILLIAGE, CO 80111

Investment Management

$4,527

ECONOMIC GROUP PENSION SERVICES2 years

Service code 13

917 WESTERN AMERICA CIRCLE, SUITE 5 · MOBILE, AL 36609

Contract Administrator

$1,725

OTHER1 year

Service code 99

UNKNOWN · UNKNOWN, CO 80111

Other Fees

$28

ORTHOPAEDIC CLINIC OF DAYTONA BEACH, P.A. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ORTHOPAEDIC CLINIC OF DAYTONA BEACH, P.A. 401(K) 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