Retirement plan

SOUTHEAST ORTHOPEDIC SPECIALISTS 401(K) PLAN AND TRUST

Name: SOUTHEAST ORTHOPEDIC SPECIALISTS, LLC - SOUTHEAST ORTHOPEDIC SPECIALISTS 401(K) PLAN AND TRUST (2023) Form 5500
Creator: SOUTHEAST ORTHOPEDIC SPECIALISTS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SOUTHEAST ORTHOPEDIC SPECIALISTS 401(K) PLAN AND TRUST, SOUTHEAST ORTHOPEDIC SPECIALISTS, LLC

SOUTHEAST ORTHOPEDIC SPECIALISTS, LLCEIN 59-3696338Plan #002PY 2023

6800 SOUTHPOINT PARKWAY, SUITE 300 - JACKSONVILLE, FL 32216904-634-0640se-ortho.comLinkedIn501-1000 employeesmedical practice

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$20.7M

+24.2% from 2022

Total participants

202

-42.3% from 2022

Average account balance

$114,349

+129.8% from 2022

Annual return

17.10%

+31.88 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

$25.40M

Not enough data

1 years with asset history on file

Average account balance

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

$128K

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.

198

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.

80.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.06M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+14.58%

Not enough data

1 years with return on file

Admin fee / account holder

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

$32

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
ONEDIGITAL INVESTMENT ADVISORS LLC1 year Filed as: ONEDIGITAL INVESTMENT ADVISORS Service code 99 · EIN 82-1434504	Other Fees	$27,008
RETIREMENT SOLUTIONS SPECIALISTS2 years Service code 49 PO BOX 601070 · JACKSONVILLE, FL 32260	Other Services	$8,314
INDEPENDENT FINANCIAL PARTNERS9+ years Service code 99 · EIN 59-3331424	Other Fees	$8,151
VOYA RETIREMENT INSURANCE & ANNUITY3 years Filed as: VOYA RETIREMENT INSURANCE AND ANNUI Service code 26 · EIN 71-0294708	Advisory (Participants)	$0

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

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

$60K

$476 / participant

Recordkeeping$25K41.8%
Investment mgmt$35K58.2%

% of EOY assets

0.292%

all-in expense ratio

Categories reported

2 / 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: PIVOT CPAS
Auditor EIN: 200708248
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$114,349

$61,272+86.6%

$149,673-23.6%

$71,457+60.0%

Participation rate

83.5%

62.5%+21.0pp

78.8%+4.7pp

67.9%+15.5pp

Annual return

17.10%

35.85%-18.7pp

134.42%-117.3pp

28.85%-11.7pp

Employer contribution / active EE

$4,186

$2,378+76.0%

$4,818-13.1%

$2,588+61.8%

Participant deferral / active EE

$10,399

$2,917+256.5%

$5,680+83.1%

$4,289+142.5%

Admin fee / account holder

$334

$1,261-73.5%

$13,210-97.5%

$1,587-79.0%

Provider

Service type

Compensation

ONEDIGITAL INVESTMENT ADVISORS LLC1 year

Filed as: ONEDIGITAL INVESTMENT ADVISORS

Service code 99 · EIN 82-1434504

Other Fees

$27,008

RETIREMENT SOLUTIONS SPECIALISTS2 years

Service code 49

PO BOX 601070 · JACKSONVILLE, FL 32260

Other Services

$8,314

INDEPENDENT FINANCIAL PARTNERS9+ years

Service code 99 · EIN 59-3331424

Other Fees

$8,151

VOYA RETIREMENT INSURANCE & ANNUITY3 years

Filed as: VOYA RETIREMENT INSURANCE AND ANNUI

Service code 26 · EIN 71-0294708

Advisory (Participants)

SOUTHEAST ORTHOPEDIC SPECIALISTS 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SOUTHEAST ORTHOPEDIC SPECIALISTS 401(K) PLAN AND TRUST

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