Retirement plan

ALABAMA ORTHOPAEDIC CLINIC, P.C. 401(K) PROFIT SHARING PLAN

Name: ALABAMA ORTHOPAEDIC CLINIC, P.C. - ALABAMA ORTHOPAEDIC CLINIC, P.C. 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: ALABAMA ORTHOPAEDIC CLINIC, P.C.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ALABAMA ORTHOPAEDIC CLINIC, P.C. 401(K) PROFIT SHARING PLAN, ALABAMA ORTHOPAEDIC CLINIC, P.C.

ALABAMA ORTHOPAEDIC CLINIC, P.C.EIN 63-1174582Plan #001PY 2023

3610 SPRINGHILL MEMORIAL DRIVE N - MOBILE, AL 36608251-410-3600alortho.comLinkedIn201-500 employeesmedical practice

Prospect flagsLow returnsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$30.6M

+14.7% from 2022

Total participants

296

-2.3% from 2022

Average account balance

$117,310

+19.0% from 2022

Annual return

12.62%

+26.12 pp from 2022

Benchmarks

See 5,708 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,708 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$27.73M

Not enough data

1 years with asset history on file

Average account balance

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

$107K

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.

259

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.

82.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.12M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+9.25%

Not enough data

1 years with return on file

Admin fee / account holder

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

$355

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 4 by compensation

Provider	Service type	Compensation
MITCHELL MCLEOD PUGH & WILLIAMS4 years Filed as: MITCHELL MCLEOD PUGH & WILLIAMS INC Service code 26 2610 DAUPHIN STREET · MOBILE, AL 36606	Advisory (Participants)	$49,663
NEWPORT GROUP, INC.3 years Service code 15 · EIN 27-2037969	Recordkeeping	$34,358
NEWPORT GROUP, INC.3 years Filed as: NEWPORT TRUST COMPANY Service code 20 · EIN 27-4411131	Trustee (individual); Trustee (bank, ...	$7,764
REGIONS BANK6 years Filed as: REGIONS Service code 26 201 MILAN PARKWAY · BIRMINGHAM, AL 35211	Advisory (Participants)	$7,747

Plan features & details

Pension benefit codes2A2E2F2G2J2R2T3D

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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
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

$100K

$500 / participant

Recordkeeping$14K13.6%
Trustee / custodial$8K7.8%
Investment mgmt$57K57.7%
Contract admin$21K20.9%

% of EOY assets

0.325%

all-in expense ratio

Categories reported

4 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: SMITH DUKES & BUCKALEW
Auditor EIN: 630191630
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$117,310

$61,356+91.2%

$149,696-21.6%

$71,511+64.0%

Participation rate

82.4%

62.5%+19.9pp

78.8%+3.6pp

67.9%+14.5pp

Annual return

12.62%

35.86%-23.2pp

134.46%-121.8pp

28.86%-16.2pp

Employer contribution / active EE

$3,792

$2,382+59.2%

$4,821-21.3%

$2,589+46.4%

Participant deferral / active EE

$3,515

$2,920+20.4%

$5,682-38.1%

$4,291-18.1%

Admin fee / account holder

$381

$1,263-69.8%

$13,212-97.1%

$1,588-76.0%

Provider

Service type

Compensation

MITCHELL MCLEOD PUGH & WILLIAMS4 years

Filed as: MITCHELL MCLEOD PUGH & WILLIAMS INC

Service code 26

2610 DAUPHIN STREET · MOBILE, AL 36606

Advisory (Participants)

$49,663

NEWPORT GROUP, INC.3 years

Service code 15 · EIN 27-2037969

Recordkeeping

$34,358

NEWPORT GROUP, INC.3 years

Filed as: NEWPORT TRUST COMPANY

Service code 20 · EIN 27-4411131

Trustee (individual); Trustee (bank, ...

$7,764

REGIONS BANK6 years

Filed as: REGIONS

Service code 26

201 MILAN PARKWAY · BIRMINGHAM, AL 35211

Advisory (Participants)

$7,747

ALABAMA ORTHOPAEDIC CLINIC, P.C. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ALABAMA ORTHOPAEDIC CLINIC, P.C. 401(K) 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