Retirement plan

MEDICAL BILLING TECHNOLOGIES, INC. 401(K) PROFIT SHARING PLAN AND TRUST

Name: MEDICAL BILLING TECHNOLOGIES, INC. - MEDICAL BILLING TECHNOLOGIES, INC. 401(K) PROFIT SHARING PLAN AND TRUST (2024) Form 5500
Creator: MEDICAL BILLING TECHNOLOGIES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MEDICAL BILLING TECHNOLOGIES, INC. 401(K) PROFIT SHARING PLAN AND TRUST, MEDICAL BILLING TECHNOLOGIES, INC.

MEDICAL BILLING TECHNOLOGIES, INC.EIN 75-2971865Plan #001PY 2024

P.O. BOX 709 - VISALIA, CA 93279559-627-6267mbt4schools.comLinkedIn11-50 employeesinformation technology and services

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$2.1M

+18.5% from 2023

Total participants

-9.5% from 2023

Average account balance

$110,922

+18.5% from 2023

Annual return

14.38%

-3.46 pp from 2023

Benchmarks

See 19,390 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants<25

Cohort19,390 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.11M

Not enough data

1 years with asset history on file

Average account balance

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

$111K

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.

135.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$227K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+14.38%

Not enough data

1 years with return on file

Admin fee / account holder

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

$8705

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 codes2E2J2T2F2G3D

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.
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

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

$165K

$11814 / participant

Other / not subdivided$165K100.0%

% of EOY assets

7.848%

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

$110,922

$100,139+10.8%

$85,187+30.2%

$145,884-24.0%

Participation rate

100.0%

74.1%+25.9pp

67.5%+32.5pp

80.3%+19.7pp

Annual return

14.38%

84.15%-69.8pp

66.67%-52.3pp

551.85%-537.5pp

Employer contribution / active EE

$8,778

$3,238+171.1%

$2,732+221.2%

$4,662+88.3%

Participant deferral / active EE

$7,451

$5,296+40.7%

$4,525+64.7%

$6,690+11.4%

Admin fee / account holder

$8,705

$7,262+19.9%

$6,162+41.3%

$13,392-35.0%

MEDICAL BILLING TECHNOLOGIES, INC. 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MEDICAL BILLING TECHNOLOGIES, INC. 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