Retirement plan

SEMMES-MURPHEY CLINIC EMPLOYEES' PROFIT SHARING PLAN

Name: SEMMES-MURPHEY CLINIC - SEMMES-MURPHEY CLINIC EMPLOYEES' PROFIT SHARING PLAN (2023) Form 5500
Creator: SEMMES-MURPHEY CLINIC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SEMMES-MURPHEY CLINIC EMPLOYEES' PROFIT SHARING PLAN, SEMMES-MURPHEY CLINIC

SEMMES-MURPHEY CLINICEIN 62-0642575Plan #002PY 2023

6325 HUMPHREYS BLVD. - MEMPHIS, TN 38120901-522-7700semmes-murphey.comLinkedIn201-500 employeesmedical practice

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$114M

+17.8% from 2022

Total participants

444

+9.9% from 2022

Average account balance

$256,672

+7.1% from 2022

Annual return

19.58%

+38.72 pp from 2022

Benchmarks

See 4,036 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort4,036 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$118.34M

Not enough data

1 years with asset history on file

Average account balance

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

$255K

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.

465

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.

86.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$5.90M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+11.20%

Not enough data

1 years with return on file

Admin fee / account holder

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

$385

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
EPIC RETIREMENT PLAN SERVICES3 years Service code 21 · EIN 16-1450952 150 STATE STREET · ROCHESTER, NY 14614	Bank Trustee	$91,230
GERBER LLC6+ years Filed as: GERBER/TAYLOR & ASSOCIATES Service code 27 · EIN 62-1420786 ONE COMMERCE SQUARE, SUITE 1900 · MEMPHIS, TN 38103	Advisory (Plan)	$60,982
BURLEIGH CONSULTING GROUP6+ years Service code 14 · EIN 62-0842964 465 JACK KRAMER DRIVE, SUITE 2 · MEMPHIS, TN 38117	Plan Administrator	$26,000

Plan features & details

Pension benefit codes2E2F2G2J2K3D

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.
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

$178K

$625 / participant

Investment mgmt$61K34.2%
Contract admin$91K51.2%
Other / not subdivided$26K14.6%

% of EOY assets

0.156%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: FORVIS MAZARS, LLP
Auditor EIN: 440160260
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$256,672

$47,180+444.0%

$149,723+71.4%

$74,473+244.7%

Participation rate

100.0%

63.4%+36.6pp

78.8%+21.2pp

70.7%+29.3pp

Annual return

19.58%

22.75%-3.2pp

134.50%-114.9pp

34.36%-14.8pp

Employer contribution / active EE

$13,167

$1,907+590.5%

$4,821+173.1%

$2,638+399.1%

Participant deferral / active EE

$4,597

$2,730+68.4%

$5,682-19.1%

$4,530+1.5%

Admin fee / account holder

$401

$343+17.0%

$13,215-97.0%

$347+15.7%

Provider

Service type

Compensation

EPIC RETIREMENT PLAN SERVICES3 years

Service code 21 · EIN 16-1450952

150 STATE STREET · ROCHESTER, NY 14614

Bank Trustee

$91,230

GERBER LLC6+ years

Filed as: GERBER/TAYLOR & ASSOCIATES

Service code 27 · EIN 62-1420786

ONE COMMERCE SQUARE, SUITE 1900 · MEMPHIS, TN 38103

Advisory (Plan)

$60,982

BURLEIGH CONSULTING GROUP6+ years

Service code 14 · EIN 62-0842964

465 JACK KRAMER DRIVE, SUITE 2 · MEMPHIS, TN 38117

Plan Administrator

$26,000

SEMMES-MURPHEY CLINIC EMPLOYEES' PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SEMMES-MURPHEY CLINIC EMPLOYEES' 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