Retirement plan

MEDICO 401(K) RETIREMENT PLAN

Name: MEDICO, LLC - MEDICO 401(K) RETIREMENT PLAN (2024) Form 5500
Creator: MEDICO, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MEDICO 401(K) RETIREMENT PLAN, MEDICO, LLC

MEDICO, LLCEIN 72-0751306Plan #001PY 2024

762 AVERY BLVD NORTH - RIDGELAND, MS 39157601-709-1408

Prospect flagsLow returnsLow participationLow assets / participantLow participant contributionLow fidelity bondFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$6.5M

+73.1% from 2023

Total participants

3,336

+0.3% from 2023

Average account balance

$5,459

+30.9% from 2023

Annual return

10.10%

-10.15 pp from 2023

Benchmarks

See 1,436 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants1,000-4,999

Cohort1,436 peers

Snapshot2024

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$6.50M

Not enough data

1 years with asset history on file

Average account balance

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

$5K

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.

1,190

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.

34.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.14M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$958

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

+10.10%

Not enough data

1 years with return on file

Admin fee / account holder

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

$108

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

See the 3-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
SHERIDAN ROAD ADVISORS LLC2 years Filed as: HUB INTERNATIONAL MIDWEST LTD Service code 16 · EIN 35-0672425	Consulting	$48,330
TAUZIN WEALTH MANAGEMENT2 years Service code 26 210 DRAPERTON GROVE · RIDGELAND, MS 39157	Advisory (Participants)	$44,559
T ROWE PRICE RPS INC3+ years Filed as: T. ROWE PRICE Service code 15 · EIN 52-1309931	Recordkeeping	$35,414

Plan features & details

Pension benefit codes2E2F2G2J2K2T2U3B3D3H

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.
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

7 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$128K

$39 / participant

Recordkeeping$35K27.6%
Investment mgmt$45K34.7%
Other / not subdivided$48K37.7%

% of EOY assets

1.975%

all-in expense ratio

Categories reported

2 / 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: BMSS, LLC
Auditor EIN: 461498870
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$5,459

$53,136-89.7%

$155,509-96.5%

$199,593-97.3%

Participation rate

34.6%

64.1%-29.5pp

78.2%-43.6pp

72.0%-37.4pp

Annual return

10.10%

41.15%-31.0pp

64.67%-54.6pp

34.25%-24.1pp

Employer contribution / active EE

$288

$1,851-84.5%

$4,672-93.8%

$3,034-90.5%

Participant deferral / active EE

$670

$3,161-78.8%

$5,626-88.1%

$5,087-86.8%

Admin fee / account holder

$108

$185-41.8%

$15,912-99.3%

$269-59.9%

Provider

Service type

Compensation

SHERIDAN ROAD ADVISORS LLC2 years

Filed as: HUB INTERNATIONAL MIDWEST LTD

Service code 16 · EIN 35-0672425

Consulting

$48,330

TAUZIN WEALTH MANAGEMENT2 years

Service code 26

210 DRAPERTON GROVE · RIDGELAND, MS 39157

Advisory (Participants)

$44,559

T ROWE PRICE RPS INC3+ years

Filed as: T. ROWE PRICE

Service code 15 · EIN 52-1309931

Recordkeeping

$35,414

MEDICO 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MEDICO 401(K) RETIREMENT 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