Retirement plan

RICHARD A. MCGAHAN, MD, PSC PROFIT SHARING PLAN

Name: RICHARD A. MCGAHAN, MD, PSC - RICHARD A. MCGAHAN, MD, PSC PROFIT SHARING PLAN (2020) Form 5500
Creator: RICHARD A. MCGAHAN, MD, PSC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RICHARD A. MCGAHAN, MD, PSC PROFIT SHARING PLAN, RICHARD A. MCGAHAN, MD, PSC

RICHARD A. MCGAHAN, MD, PSCEIN 61-1189312Plan #002PY 2020

1728 ROCKINGHAM AVE. - BOWLING GREEN, KY 42104270-904-0845LinkedIn1-10 employeesmedical practice

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$1.8M

+13.6% from 2019

Total participants

0.0% from 2019

Average account balance

$1,796,350

+13.6% from 2019

Annual return

9.61%

-9.11 pp from 2019

Benchmarks

See 102,098 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort102,098 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.44M

Not enough data

1 years with asset history on file

Average account balance

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

$160K

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.

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.

128.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$99K

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

+14.56%

Not enough data

1 years with return on file

Admin fee / account holder

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

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2G2J2R3D

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

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$18K

$18485 / participant

Other / not subdivided$18K100.0%

% of EOY assets

1.029%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$1,796,350

$209,425+757.8%

$178,499+906.4%

$158,966+1030.0%

Participation rate

100.0%

86.4%+13.6pp

81.9%+18.1pp

82.0%+18.0pp

Annual return

9.61%

188.80%-179.2pp

151.10%-141.5pp

302.95%-293.3pp

Employer contribution / active EE

$37,500

$5,707+557.1%

$5,011+648.3%

$4,762+687.4%

Participant deferral / active EE

$26,000

$5,955+336.6%

$5,202+399.8%

$5,983+334.6%

Admin fee / account holder

$18,485

$17,078+8.2%

$13,986+32.2%

$11,250+64.3%

RICHARD A. MCGAHAN, MD, PSC PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RICHARD A. MCGAHAN, MD, PSC 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