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 (2024) 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 2024

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)

$44.3M

+12.9% from 2023

Total participants

192

+1.1% from 2023

Average account balance

$230,604

+11.7% from 2023

Annual return

14.22%

-3.61 pp from 2023

Benchmarks

See 2,067 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants100-249

Cohort2,067 peers

Snapshot2024

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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

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Service providers

Top 6 by compensation

Provider	Service type	Compensation
RETIREMENTPLANS.COM, LLC2 years Filed as: RETIREMENTPLANS.COM LLC Service code 13 16051 ADDISON ROAD SUITE 205 · ADDISON, TX 75001	Contract Administrator	$52,268
RAYMOND JAMES FINANCIAL SERVICES2 years Filed as: RAYMOND JAMES ASSOCIATES INC Service code 27 880 CARILLON PKWY · ST PETERSBURG, FL 33716	Advisory (Plan)	$32,843
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$17,626
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ANNUITY INS CO OF AMERICA Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$3,451
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: GWFS EQUITIES Service code 33 8515 E ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Shareholder servicing fees; Securitie...	$0
GREAT-WEST LIFE & ANNUITY INSURANCE2 years 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

$108K

$686 / participant

Other / not subdivided$108K100.0%

% of EOY assets

0.243%

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

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$230,604

$60,323+282.3%

$81,812+181.9%

$74,495+209.6%

Participation rate

100.0%

62.9%+37.1pp

72.3%+27.7pp

67.2%+32.8pp

Annual return

14.22%

16.90%-2.7pp

773.79%-759.6pp

1364.94%-1350.7pp

Employer contribution / active EE

$12,639

$2,620+382.3%

$2,912+334.0%

$2,623+381.9%

Participant deferral / active EE

$5,613

$3,387+65.7%

$4,319+30.0%

$4,346+29.2%

Admin fee / account holder

$561

$1,486-62.3%

$7,386-92.4%

$1,942-71.1%

Provider

Service type

Compensation

RETIREMENTPLANS.COM, LLC2 years

Filed as: RETIREMENTPLANS.COM LLC

Service code 13

16051 ADDISON ROAD SUITE 205 · ADDISON, TX 75001

Contract Administrator

$52,268

RAYMOND JAMES FINANCIAL SERVICES2 years

Filed as: RAYMOND JAMES ASSOCIATES INC

Service code 27

880 CARILLON PKWY · ST PETERSBURG, FL 33716

Advisory (Plan)

$32,843

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$17,626

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ANNUITY INS CO OF AMERICA

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$3,451

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: GWFS EQUITIES

Service code 33

8515 E ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Shareholder servicing fees; Securitie...

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

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