Retirement plan

OWENSBORO MEDICAL PRACTICE, PLLC PROFIT SHARING 401(K) PLAN

Name: OWENSBORO MEDICAL PRACTICE, PLLC - OWENSBORO MEDICAL PRACTICE, PLLC PROFIT SHARING 401(K) PLAN (2017) Form 5500
Creator: OWENSBORO MEDICAL PRACTICE, PLLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, OWENSBORO MEDICAL PRACTICE, PLLC PROFIT SHARING 401(K) PLAN, OWENSBORO MEDICAL PRACTICE, PLLC

OWENSBORO MEDICAL PRACTICE, PLLCEIN 61-1383603Plan #002PY 2017

1200 BRECKENRIDGE STREET - OWENSBORO, KY 42303270-683-8672owensboromedical.comLinkedIn51-200 employeesmedical practice

Prospect flagsLow participationLow fidelity bondCorrective distributions

How to read this page

Total assets (EOY)

$4.9M

+21.3% from 2016

Total participants

118

+1.7% from 2016

Average account balance

$57,417

+12.9% from 2016

Annual return

16.85%

+9.45 pp from 2016

Benchmarks

See 5,167 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,167 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.32M

Not enough data

1 years with asset history on file

Average account balance

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

$76K

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.

69.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$284K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+13.93%

Not enough data

1 years with return on file

Admin fee / account holder

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

$940

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

Top 2 by compensation

Provider	Service type	Compensation
AMERIPRISE FINANCIAL SERVICES INC3+ years Filed as: AMERIPRISE FINANCIAL Service code 26 · EIN 33-2565098	Advisory (Participants)	$6,740
PENSERV PLAN SERVICES, INC.3+ years Service code 13 · EIN 20-1916735	Contract Administrator	$1,135

Plan features & details

Pension benefit codes2E2F2G2J2K2R2T3D

Plan features

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

Opportunity flags

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$1K

$11 / participant

Contract admin$1K100.0%

% of EOY assets

0.023%

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: ALEXANDER THOMPSON ARNOLD PLLC
Auditor EIN: 621110839
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$57,417

$55,453+3.5%

$170,435-66.3%

$62,293-7.8%

Participation rate

68.3%

66.4%+1.9pp

83.6%-15.3pp

69.5%-1.2pp

Annual return

16.85%

21.38%-4.5pp

205.94%-189.1pp

28.90%-12.0pp

Employer contribution / active EE

$326

$2,164-84.9%

$5,432-94.0%

$2,042-84.0%

Participant deferral / active EE

$2,774

$2,303+20.5%

$4,939-43.8%

$3,169-12.5%

Admin fee / account holder

$13

$455-97.1%

$13,881-99.9%

$479-97.2%

Provider

Service type

Compensation

AMERIPRISE FINANCIAL SERVICES INC3+ years

Filed as: AMERIPRISE FINANCIAL

Service code 26 · EIN 33-2565098

Advisory (Participants)

$6,740

PENSERV PLAN SERVICES, INC.3+ years

Service code 13 · EIN 20-1916735

Contract Administrator

$1,135

OWENSBORO MEDICAL PRACTICE, PLLC PROFIT SHARING 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

OWENSBORO MEDICAL PRACTICE, PLLC PROFIT SHARING 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