Retirement plan

FAMILY PRACTICE ASSOCIATES 401(K) PROFIT SHARING PLAN AND TRUST

Name: FAMILY PRACTICE ASSOCIATES, PA - FAMILY PRACTICE ASSOCIATES 401(K) PROFIT SHARING PLAN AND TRUST (2023) Form 5500
Creator: FAMILY PRACTICE ASSOCIATES, PA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FAMILY PRACTICE ASSOCIATES 401(K) PROFIT SHARING PLAN AND TRUST, FAMILY PRACTICE ASSOCIATES, PA

FAMILY PRACTICE ASSOCIATES, PAEIN 71-0537028Plan #001PY 2023

836 E. CALIFORNIA - GAINESVILLE, TX 762404202940-665-5566

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$6M

+20.1% from 2022

Total participants

+12.5% from 2022

Average account balance

$221,810

+6.8% from 2022

Annual return

18.61%

+37.84 pp from 2022

Benchmarks

See 108,045 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort108,045 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.29M

Not enough data

1 years with asset history on file

Average account balance

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

$270K

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.

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.

168.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$156K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+19.23%

Not enough data

1 years with return on file

Admin fee / account holder

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

$111

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

0 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 codes2E2H2J3B3D3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$72K

$4519 / participant

Other / not subdivided$72K100.0%

% of EOY assets

1.207%

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

$221,810

$175,257+26.6%

$149,717+48.2%

$139,456+59.1%

Participation rate

100.0%

83.4%+16.6pp

78.8%+21.2pp

80.3%+19.7pp

Annual return

18.61%

166.70%-148.1pp

134.41%-115.8pp

373.45%-354.8pp

Employer contribution / active EE

$2,659

$5,477-51.5%

$4,820-44.8%

$4,753-44.1%

Participant deferral / active EE

$6,498

$6,521-0.4%

$5,682+14.4%

$6,711-3.2%

Admin fee / account holder

$2,678

$16,156-83.4%

$13,213-79.7%

$11,407-76.5%

FAMILY PRACTICE ASSOCIATES 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FAMILY PRACTICE ASSOCIATES 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