Retirement plan

SUTTER MEDICAL GROUP OF THE REDWOODS, INC. 401(K) PROFIT SHARING PLAN

Name: SUTTER MEDICAL GROUP OF THE REDWOODS, INC. - SUTTER MEDICAL GROUP OF THE REDWOODS, INC. 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: SUTTER MEDICAL GROUP OF THE REDWOODS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SUTTER MEDICAL GROUP OF THE REDWOODS, INC. 401(K) PROFIT SHARING PLAN, SUTTER MEDICAL GROUP OF THE REDWOODS, INC.

SUTTER MEDICAL GROUP OF THE REDWOODS, INC.EIN 68-0285735Plan #001PY 2023

451 AVIATION BLVD, SUITE 101 - SANTA ROSA, CA 95403707-521-8879sutterhealthclinicians.orgLinkedIn51-200 employeeshospital & health care

Prospect flagsHigh feesHigh assets / participantFailed to transmit contributions

How to read this page

Total assets (EOY)

$82.3M

+20.5% from 2022

Total participants

193

+5.5% from 2022

Average account balance

$435,464

+16.0% from 2022

Annual return

15.61%

+26.65 pp from 2022

Benchmarks

See 5,719 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,719 peers

Snapshot2023

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Analytics

Total assets (EOY)

Plan-year ending balance

$91.27M

Not enough data

1 years with asset history on file

Average account balance

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

$470K

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.

194

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.

94.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$7.01M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$49K

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

+12.30%

Not enough data

1 years with return on file

Admin fee / account holder

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

$789

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
WILLOW CREEK FINANCIAL SERVICES INC1 year Filed as: WILLOW CREEK WEALTH MANAGEMENT Service code 10 825 GRAVENSTEIN HWY. N. · SEBASTOPOL, CA 95472	Accounting	$59,789
NEWPORT GROUP, INC.1 year Filed as: NEWPORT TRUST COMPANY Service code 21 · EIN 27-4411131	Bank Trustee	$26,751
NEWPORT GROUP, INC.8 years Service code 13 · EIN 27-2037969	Contract Administrator	$18,347

Plan features & details

Pension benefit codes2A2E2F2G2J2T3D

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.
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.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$105K

$807 / participant

Recordkeeping$15K13.9%
Trustee / custodial$27K25.5%
Investment mgmt$60K57.0%
Contract admin$4K3.6%

% of EOY assets

0.127%

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: CAMPBELL TAYLOR WASHBURN
Auditor EIN: 680251243
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$435,464

$61,272+610.7%

$149,673+190.9%

$71,457+509.4%

Participation rate

96.9%

62.5%+34.4pp

78.8%+18.2pp

67.9%+29.0pp

Annual return

15.61%

35.85%-20.2pp

134.42%-118.8pp

28.85%-13.2pp

Employer contribution / active EE

$27,329

$2,378+1049.1%

$4,818+467.3%

$2,588+956.1%

Participant deferral / active EE

$16,927

$2,917+480.3%

$5,680+198.0%

$4,289+294.7%

Admin fee / account holder

$555

$1,261-56.0%

$13,210-95.8%

$1,587-65.0%

Provider

Service type

Compensation

WILLOW CREEK FINANCIAL SERVICES INC1 year

Filed as: WILLOW CREEK WEALTH MANAGEMENT

Service code 10

825 GRAVENSTEIN HWY. N. · SEBASTOPOL, CA 95472

Accounting

$59,789

NEWPORT GROUP, INC.1 year

Filed as: NEWPORT TRUST COMPANY

Service code 21 · EIN 27-4411131

Bank Trustee

$26,751

NEWPORT GROUP, INC.8 years

Service code 13 · EIN 27-2037969

Contract Administrator

$18,347

SUTTER MEDICAL GROUP OF THE REDWOODS, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SUTTER MEDICAL GROUP OF THE REDWOODS, INC. 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