Retirement plan

MD BUSINESSES INC 401 K PROFIT SHARING PLAN TRUST

Name: SYNERGIC HEALTHCARE SOLUTIONS, LLC - MD BUSINESSES INC 401 K PROFIT SHARING PLAN TRUST (2019) Form 5500
Creator: SYNERGIC HEALTHCARE SOLUTIONS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MD BUSINESSES INC 401 K PROFIT SHARING PLAN TRUST, SYNERGIC HEALTHCARE SOLUTIONS, LLC

SYNERGIC HEALTHCARE SOLUTIONS, LLCEIN 65-1239194Plan #001PY 2019

3301 W GANDY BLVD - TAMPA, FL 33611813-925-1903

Prospect flagsHigh feesRecently reached 100 employees

How to read this page

Total assets (EOY)

$1.6M

+43.2% from 2018

Total participants

128

+141.5% from 2018

Average account balance

$14,561

No prior year

Annual return

23.44%

+26.99 pp from 2018

Benchmarks

See 18,452 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort18,452 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.59M

Not enough data

1 years with asset history on file

Average account balance

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

$17K

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.

265

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.

51.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$536K

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

+13.71%

Not enough data

1 years with return on file

Admin fee / account holder

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

$153

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

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2G2J2T3D2F

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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$99K

$1315 / participant

Other / not subdivided$99K100.0%

% of EOY assets

6.269%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$14,561

$85,169-82.9%

$172,755-91.6%

$72,983-80.0%

Participation rate

73.3%

70.1%+3.3pp

82.6%-9.3pp

69.5%+3.8pp

Annual return

23.44%

27.32%-3.9pp

802.94%-779.5pp

81.01%-57.6pp

Employer contribution / active EE

$1,217

$3,324-63.4%

$5,144-76.3%

$2,440-50.1%

Participant deferral / active EE

$2,768

$3,260-15.1%

$5,198-46.7%

$3,608-23.3%

Admin fee / account holder

$913

$5,880-84.5%

$13,955-93.5%

$5,124-82.2%

MD BUSINESSES INC 401 K PROFIT SHARING PLAN TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MD BUSINESSES INC 401 K PROFIT SHARING PLAN 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