Retirement plan

THE FEDERATION OF STATE MEDICAL BOARDS THRIFT RETIREMENT PLAN

Name: FEDERATION OF STATE MEDICAL BOARDS OF THE UNITED STATES, INC. - THE FEDERATION OF STATE MEDICAL BOARDS THRIFT RETIREMENT PLAN (2023) Form 5500
Creator: FEDERATION OF STATE MEDICAL BOARDS OF THE UNITED STATES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE FEDERATION OF STATE MEDICAL BOARDS THRIFT RETIREMENT PLAN, FEDERATION OF STATE MEDICAL BOARDS OF THE UNITED STATES, INC.

FEDERATION OF STATE MEDICAL BOARDS OF THE UNITED STATES, INC.EIN 75-1092490Plan #002PY 2023

400 FULLER WISER ROAD - EULESS, TX 760393855817-868-4000fsmb.orgLinkedIn51-200 employeesnon-profit organization management

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$39.2M

+23.4% from 2022

Total participants

190

+11.8% from 2022

Average account balance

$206,369

+9.8% from 2022

Annual return

17.83%

+34.02 pp from 2022

Benchmarks

See 1,919 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants100-249

Cohort1,919 peers

Snapshot2023

See peer percentile detail with Solo.

Solo shows the percentile for each metric against plans of the same size and industry. $4.99 for your first month, then $34.99 a month. Cancel any time.

Start Solo for $4.99 Compare plans

Analytics

Total assets (EOY)

Plan-year ending balance

$48.27M

Not enough data

1 years with asset history on file

Average account balance

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

$244K

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.

198

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.

99.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.03M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$20K

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

+11.83%

Not enough data

1 years with return on file

Admin fee / account holder

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

$645

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 10-year trajectory with Solo.

Solo shows up to ten years of filings for this plan, year over year. $4.99 for your first month, then $34.99 a month. Cancel any time.

Start Solo for $4.99 Compare plans

Service providers

Top 6 by compensation

Provider	Service type	Compensation
RETIREMENTPLANS.COM, LLC1 year Filed as: RETIREMENTPLANS.COM LLC Service code 13 16051 ADDISON ROAD SUITE 205 · ADDISON, TX 75001	Contract Administrator	$43,521
RAYMOND JAMES FINANCIAL SERVICES1 year Filed as: RAYMOND JAMES ASSOCIATES INC Service code 27 880 CARILLON PKWY · ST PETERSBURG, FL 33716	Advisory (Plan)	$27,335
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$13,738
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INS CO OF AMERICA Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$108
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: GWFS EQUITIES Service code 33 8515 E ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Securities brokerage; Shareholder ser...	$30
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: GWFS EQUITIES INC Service code 33	Shareholder servicing fees; Securitie...	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.
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

$82K

$526 / participant

Other / not subdivided$82K100.0%

% of EOY assets

0.208%

all-in expense ratio

Categories reported

0 / 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: CLIFTONLARSONALLEN LLP
Auditor EIN: 410746749
Audit fees: (not subdivided)
Opinion code: Unqualified

Look up a plan sponsor by EIN. Free Form 5500 search. No signup.

Metric

This plan

Peer set

Industry

Size

Avg account balance

$206,369

$58,264+254.2%

$86,612+138.3%

$71,457+188.8%

Participation rate

100.0%

65.0%+35.0pp

71.7%+28.3pp

67.9%+32.1pp

Annual return

17.83%

21.63%-3.8pp

591.07%-573.2pp

28.85%-11.0pp

Employer contribution / active EE

$11,790

$2,574+358.1%

$3,022+290.1%

$2,588+355.6%

Participant deferral / active EE

$5,211

$3,436+51.6%

$4,438+17.4%

$4,289+21.5%

Admin fee / account holder

$429

$1,057-59.4%

$5,614-92.4%

$1,587-73.0%

Provider

Service type

Compensation

RETIREMENTPLANS.COM, LLC1 year

Filed as: RETIREMENTPLANS.COM LLC

Service code 13

16051 ADDISON ROAD SUITE 205 · ADDISON, TX 75001

Contract Administrator

$43,521

RAYMOND JAMES FINANCIAL SERVICES1 year

Filed as: RAYMOND JAMES ASSOCIATES INC

Service code 27

880 CARILLON PKWY · ST PETERSBURG, FL 33716

Advisory (Plan)

$27,335

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$13,738

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INS CO OF AMERICA

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$108

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: GWFS EQUITIES

Service code 33

8515 E ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Securities brokerage; Shareholder ser...

$30

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: GWFS EQUITIES INC

Service code 33

Shareholder servicing fees; Securitie...

THE FEDERATION OF STATE MEDICAL BOARDS THRIFT RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE FEDERATION OF STATE MEDICAL BOARDS THRIFT 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