Retirement plan

JACKSON HEART CLINIC, P.A. 401(K) PLAN

Name: JACKSON HEART CLINIC, P.A. - JACKSON HEART CLINIC, P.A. 401(K) PLAN (2024) Form 5500
Creator: JACKSON HEART CLINIC, P.A.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, JACKSON HEART CLINIC, P.A. 401(K) PLAN, JACKSON HEART CLINIC, P.A.

JACKSON HEART CLINIC, P.A.EIN 64-0528954Plan #001PY 2024

970 LAKELAND DRIVE, SUITE 61 - JACKSON, MS 39216601-982-7850jacksonheart.comLinkedIn51-200 employeeshospital & health care

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$42.1M

+14.3% from 2023

Total participants

176

+22.2% from 2023

Average account balance

$250,785

-7.4% from 2023

Annual return

14.60%

+0.15 pp from 2023

Benchmarks

See 6,026 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort6,026 peers

Snapshot2024

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Analytics

Total assets (EOY)

Plan-year ending balance

$42.13M

Not enough data

1 years with asset history on file

Average account balance

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

$251K

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.

168

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.

94.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.33M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$17K

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

+14.60%

Not enough data

1 years with return on file

Admin fee / account holder

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

$444

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 3 by compensation

Provider	Service type	Compensation
TRUSTMARK NATIONAL BANK3 years Filed as: TRUSTMARK WEALTH MANAGEMENT Service code 26 248 E. CAPITAL ST., · JACKSON, MS 39201	Advisory (Participants)	$40,777
NEWPORT GROUP, INC.5 years Service code 14 · EIN 27-2037969	Plan Administrator	$23,018
NEWPORT GROUP, INC.5 years Filed as: NEWPORT TRUST COMPANY Service code 13 · EIN 27-4411131	Contract Administrator	$8,745

Plan features & details

Pension benefit codes2A2E2F2G2J2R2T3D3H

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.
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.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$75K

$545 / participant

Recordkeeping$7K9.3%
Trustee / custodial$9K11.7%
Investment mgmt$43K57.4%
Contract admin$16K21.5%

% of EOY assets

0.177%

all-in expense ratio

Categories reported

4 / 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: T.E. LOTT AND COMPANY
Auditor EIN: 640575804
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$250,785

$55,415+352.6%

$155,509+61.3%

$74,495+236.6%

Participation rate

94.2%

61.9%+32.3pp

78.2%+16.0pp

67.2%+27.0pp

Annual return

14.60%

268.50%-253.9pp

64.67%-50.1pp

1364.94%-1350.3pp

Employer contribution / active EE

$9,933

$2,267+338.1%

$4,672+112.6%

$2,623+278.7%

Participant deferral / active EE

$7,078

$2,836+149.6%

$5,626+25.8%

$4,346+62.9%

Admin fee / account holder

$444

$1,738-74.4%

$15,912-97.2%

$1,942-77.1%

Provider

Service type

Compensation

TRUSTMARK NATIONAL BANK3 years

Filed as: TRUSTMARK WEALTH MANAGEMENT

Service code 26

248 E. CAPITAL ST., · JACKSON, MS 39201

Advisory (Participants)

$40,777

NEWPORT GROUP, INC.5 years

Service code 14 · EIN 27-2037969

Plan Administrator

$23,018

NEWPORT GROUP, INC.5 years

Filed as: NEWPORT TRUST COMPANY

Service code 13 · EIN 27-4411131

Contract Administrator

$8,745

JACKSON HEART CLINIC, P.A. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

JACKSON HEART CLINIC, P.A. 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