Retirement plan

PHYSICIANS PRIMARY CARE OF SOUTHWEST FLORIDA, P.L. 401(K) PROFIT SHARING PLAN AND TRUST

Name: PHYSICIANS PRIMARY CARE OF SOUTHWEST FLORIDA, P.L. - PHYSICIANS PRIMARY CARE OF SOUTHWEST FLORIDA, P.L. 401(K) PROFIT SHARING PLAN AND TRUST (2024) Form 5500
Creator: PHYSICIANS PRIMARY CARE OF SOUTHWEST FLORIDA, P.L.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PHYSICIANS PRIMARY CARE OF SOUTHWEST FLORIDA, P.L. 401(K) PROFIT SHARING PLAN AND TRUST, PHYSICIANS PRIMARY CARE OF SOUTHWEST FLORIDA, P.L.

PHYSICIANS PRIMARY CARE OF SOUTHWEST FLORIDA, P.L.EIN 65-0603006Plan #001PY 2024

12730 NEW BRITTANY BLVD., SUITE 602 - FORT MYERS, FL 33907239-275-5522LinkedIn201-500 employeeshospital & health care

Prospect flagsHigh feesLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$29.8M

+9.5% from 2023

Total participants

274

+10.0% from 2023

Average account balance

$158,677

+11.9% from 2023

Annual return

13.81%

-3.17 pp from 2023

Benchmarks

See 6,010 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort6,010 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$29.83M

Not enough data

1 years with asset history on file

Average account balance

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

$159K

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.

188

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.

61.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.90M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+13.81%

Not enough data

1 years with return on file

Admin fee / account holder

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

$398

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
EVERHART ADVISORS2 years Filed as: EVERHART FINANCIAL GROUP INC Service code 27 535 METRO PLACE S., SUITE 100 · DUBLIN, OH 43017	Advisory (Plan)	$44,468
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ANNUITY INS. CO. OF AMERICA Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$16,263
PROGRESSIVE PENSION ADMIN., INC.10+ years Service code 13 4560 VIA ROYALE, SUITE 4A · FORT MYERS, FL 33919	Contract Administrator	$15,296
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$9,399

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.
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.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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

$75K

$333 / participant

Contract admin$75K100.0%

% of EOY assets

0.251%

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: HSC/TUSCAN & COMPANY, PA
Auditor EIN: 592309183
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$158,677

$55,423+186.3%

$155,602+2.0%

$74,400+113.3%

Participation rate

61.8%

61.9%-0.1pp

78.2%-16.4pp

67.2%-5.4pp

Annual return

13.81%

269.07%-255.3pp

64.81%-51.0pp

1367.51%-1353.7pp

Employer contribution / active EE

$2,833

$2,266+25.1%

$4,675-39.4%

$2,624+8.0%

Participant deferral / active EE

$5,601

$2,835+97.6%

$5,629-0.5%

$4,348+28.8%

Admin fee / account holder

$398

$1,744-77.2%

$15,923-97.5%

$1,944-79.5%

Provider

Service type

Compensation

EVERHART ADVISORS2 years

Filed as: EVERHART FINANCIAL GROUP INC

Service code 27

535 METRO PLACE S., SUITE 100 · DUBLIN, OH 43017

Advisory (Plan)

$44,468

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ANNUITY INS. CO. OF AMERICA

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$16,263

PROGRESSIVE PENSION ADMIN., INC.10+ years

Service code 13

4560 VIA ROYALE, SUITE 4A · FORT MYERS, FL 33919

Contract Administrator

$15,296

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$9,399

PHYSICIANS PRIMARY CARE OF SOUTHWEST FLORIDA, P.L. 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PHYSICIANS PRIMARY CARE OF SOUTHWEST FLORIDA, P.L. 401(K) PROFIT SHARING PLAN AND TRUST

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