Retirement plan

PREMIER MEDICAL GROUP, INC. 401(K) PROFIT SHARING PLAN

Name: PREMIER MEDICAL GROUP, INC. - PREMIER MEDICAL GROUP, INC. 401(K) PROFIT SHARING PLAN (2020) Form 5500
Creator: PREMIER MEDICAL GROUP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PREMIER MEDICAL GROUP, INC. 401(K) PROFIT SHARING PLAN, PREMIER MEDICAL GROUP, INC.

PREMIER MEDICAL GROUP, INC.EIN 72-1356450Plan #001PY 2020

3701 DAUPHIN STREET - MOBILE, AL 36608251-341-3368LinkedIn1-10 employees

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$60.4M

+24.3% from 2019

Total participants

404

+5.8% from 2019

Average account balance

$158,093

+17.5% from 2019

Annual return

23.12%

-0.44 pp from 2019

Benchmarks

See 3,872 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort3,872 peers

Snapshot2020

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Analytics

Total assets (EOY)

Plan-year ending balance

$83.25M

Not enough data

1 years with asset history on file

Average account balance

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

$272K

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.

306

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.

87.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.78M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+21.21%

Not enough data

1 years with return on file

Admin fee / account holder

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

$470

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
NEWPORT GROUP, INC.5 years Service code 13 · EIN 27-2037969	Contract Administrator	$88,747
MITCHELL, MCLEOD, PUGH & WILLIAMS1 year Filed as: MITCHELL, MCLEOD, PUGH & WILLIAMS, Service code 26 · EIN 20-3706574	Advisory (Participants)	$34,876
NEWPORT GROUP, INC.3 years Filed as: NEWPORT TRUST COMPANY Service code 20 · EIN 27-4411131	Trustee (individual); Trustee (bank, ...	$16,871

Plan features & details

Pension benefit codes2A2E2F2G2J2R2T3D

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

1 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$140K

$511 / participant

Investment mgmt$35K24.8%
Contract admin$89K63.2%
Other / not subdivided$17K12.0%

% of EOY assets

0.233%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.

Auditor firm: SMITH DUKES & BUCKALEW
Auditor EIN: 630191630
Audit fees: (not subdivided)
Opinion code: Disclaimer

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$158,093

$52,293+202.3%

$178,490-11.4%

$73,409+115.4%

Participation rate

92.0%

65.3%+26.7pp

81.9%+10.1pp

72.2%+19.8pp

Annual return

23.12%

34.75%-11.6pp

151.07%-127.9pp

59.29%-36.2pp

Employer contribution / active EE

$5,255

$1,735+202.8%

$5,011+4.9%

$2,234+135.2%

Participant deferral / active EE

$2,925

$2,332+25.4%

$5,202-43.8%

$3,805-23.1%

Admin fee / account holder

$368

$127+188.8%

$13,984-97.4%

$158+132.9%

Provider

Service type

Compensation

NEWPORT GROUP, INC.5 years

Service code 13 · EIN 27-2037969

Contract Administrator

$88,747

MITCHELL, MCLEOD, PUGH & WILLIAMS1 year

Filed as: MITCHELL, MCLEOD, PUGH & WILLIAMS,

Service code 26 · EIN 20-3706574

Advisory (Participants)

$34,876

NEWPORT GROUP, INC.3 years

Filed as: NEWPORT TRUST COMPANY

Service code 20 · EIN 27-4411131

Trustee (individual); Trustee (bank, ...

$16,871

PREMIER MEDICAL GROUP, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PREMIER MEDICAL GROUP, 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