Retirement plan

MAGRUDER EYE INSTITUTE 401(K) PLAN

Name: MAGRUDER EYE INSTITUTE - MAGRUDER EYE INSTITUTE 401(K) PLAN (2024) Form 5500
Creator: MAGRUDER EYE INSTITUTE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MAGRUDER EYE INSTITUTE 401(K) PLAN, MAGRUDER EYE INSTITUTE

MAGRUDER EYE INSTITUTEEIN 59-3347759Plan #001PY 2024

1911 NORTH MILLS AVENUE - ORLANDO, FL 32803407-893-8228magrudereye.comLinkedIn51-200 employeeshospital & health care

Prospect flagsLow participation

How to read this page

Total assets (EOY)

$20.2M

+23.3% from 2023

Total participants

319

+22.7% from 2023

Average account balance

$88,471

+10.9% from 2023

Annual return

18.75%

+1.47 pp from 2023

Benchmarks

See 6,007 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort6,007 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$20.17M

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.

228

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.

55.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.10M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+18.75%

Not enough data

1 years with return on file

Admin fee / account holder

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

$207

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 3 by compensation

Provider	Service type	Compensation
NORTHWESTERN MUTUAL INVESTMENT SERV5 years Filed as: NORTHWESTERN MUTUAL WEALTH MANAGMEN Service code 27 611 EAST WISCONSIN AVE · MILWAUKEE, WI 53202	Advisory (Plan)	$43,723
CARPENTER MORSE GROUP5 years Service code 13 2170 WEST STATE ROAD 434 SUITE 280 · LONGWOOD, FL 32779	Contract Administrator	$2,867
AMERICAN FUNDS5 years Filed as: CAPITAL GROUP RETIREMENT PLAN SERVI Service code 64 6455 IRVINE CENTER DRIVE · IRVINE, CA 92618	Recordkeeping Fees	$1,088

Plan features & details

Pension benefit codes2E2G2J2K3H3D2T

Plan features

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.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.

Expense breakdown

Schedule H Part II

Admin total

$47K

$229 / participant

Other / not subdivided$47K100.0%

% of EOY assets

0.234%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: ASSURANCE DIMENSIONS
Auditor EIN: 263429295
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$88,471

$55,446+59.6%

$155,574-43.1%

$74,429+18.9%

Participation rate

55.8%

61.9%-6.1pp

78.2%-22.4pp

67.2%-11.4pp

Annual return

18.75%

269.20%-250.4pp

64.87%-46.1pp

1368.38%-1349.6pp

Employer contribution / active EE

$1,829

$2,266-19.3%

$4,676-60.9%

$2,625-30.3%

Participant deferral / active EE

$3,514

$2,836+23.9%

$5,629-37.6%

$4,348-19.2%

Admin fee / account holder

$207

$1,743-88.1%

$15,914-98.7%

$1,944-89.4%

Provider

Service type

Compensation

NORTHWESTERN MUTUAL INVESTMENT SERV5 years

Filed as: NORTHWESTERN MUTUAL WEALTH MANAGMEN

Service code 27

611 EAST WISCONSIN AVE · MILWAUKEE, WI 53202

Advisory (Plan)

$43,723

CARPENTER MORSE GROUP5 years

Service code 13

2170 WEST STATE ROAD 434 SUITE 280 · LONGWOOD, FL 32779

Contract Administrator

$2,867

AMERICAN FUNDS5 years

Filed as: CAPITAL GROUP RETIREMENT PLAN SERVI

Service code 64

6455 IRVINE CENTER DRIVE · IRVINE, CA 92618

Recordkeeping Fees

$1,088

MAGRUDER EYE INSTITUTE 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MAGRUDER EYE INSTITUTE 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