Retirement plan

PRIMARY CARE PARTNERS, INC. 401(K) PROFIT SHARING PLAN

Name: PRIMARY CARE PARTNERS, INC. - PRIMARY CARE PARTNERS, INC. 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: PRIMARY CARE PARTNERS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PRIMARY CARE PARTNERS, INC. 401(K) PROFIT SHARING PLAN, PRIMARY CARE PARTNERS, INC.

PRIMARY CARE PARTNERS, INC.EIN 84-1456669Plan #001PY 2023

3150 N. 12TH STREET - GRAND JUNCTION, CO 81506970-245-1220pcpgj.comLinkedIn201-500 employeeshospital & health care

Prospect flagsHigh feesLow fidelity bondFailed to transmit contributions

How to read this page

Total assets (EOY)

$39.4M

+9.3% from 2022

Total participants

308

-1.9% from 2022

Average account balance

$130,107

+10.4% from 2022

Annual return

16.07%

+32.86 pp from 2022

Benchmarks

See 5,710 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,710 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$46.33M

Not enough data

1 years with asset history on file

Average account balance

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

$127K

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.

366

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.

98.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.26M

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

+14.68%

Not enough data

1 years with return on file

Admin fee / account holder

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

$381

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

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

Service providers

Top 5 by compensation

Provider	Service type	Compensation
GLOBAL RETIREMENT PARTNERS LLC4 years Service code 26 · EIN 47-1411118	Advisory (Participants)	$48,360
CHARLES SCHWAB & CO., INC.4 years Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC Service code 15 · EIN 34-1479833	Recordkeeping	$37,150
LPL FINANCIAL2 years Filed as: LPL HOLDINGS INC Service code 28 · EIN 04-3046611	Investment Management	$25,000
CHARLES SCHWAB & CO., INC.7 years Service code 33 · EIN 94-1737782	Direct payment from the plan; Float r...	$1,227
CHARLES SCHWAB & CO., INC.7 years Filed as: CHARLES SCHWAB & CO., INC AND AFFIL Service code 59	Shareholder Servicing	$0

Plan features & details

Pension benefit codes2E2F2G2J2R2S2T3D

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

3 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).
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$113K

$578 / participant

Recordkeeping$36K32.3%
Investment mgmt$76K67.7%

% of EOY assets

0.286%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: DWC
Auditor EIN: 840795096
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$130,107

$61,338+112.1%

$149,717-13.1%

$71,495+82.0%

Participation rate

97.4%

62.5%+34.9pp

78.8%+18.7pp

67.9%+29.5pp

Annual return

16.07%

35.86%-19.8pp

134.41%-118.3pp

28.85%-12.8pp

Employer contribution / active EE

$2,637

$2,381+10.7%

$4,820-45.3%

$2,589+1.8%

Participant deferral / active EE

$6,452

$2,919+121.0%

$5,682+13.6%

$4,291+50.4%

Admin fee / account holder

$372

$1,263-70.5%

$13,213-97.2%

$1,588-76.6%

Provider

Service type

Compensation

GLOBAL RETIREMENT PARTNERS LLC4 years

Service code 26 · EIN 47-1411118

Advisory (Participants)

$48,360

CHARLES SCHWAB & CO., INC.4 years

Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC

Service code 15 · EIN 34-1479833

Recordkeeping

$37,150

LPL FINANCIAL2 years

Filed as: LPL HOLDINGS INC

Service code 28 · EIN 04-3046611

Investment Management

$25,000

CHARLES SCHWAB & CO., INC.7 years

Service code 33 · EIN 94-1737782

Direct payment from the plan; Float r...

$1,227

CHARLES SCHWAB & CO., INC.7 years

Filed as: CHARLES SCHWAB & CO., INC AND AFFIL

Service code 59

Shareholder Servicing

PRIMARY CARE PARTNERS, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PRIMARY CARE PARTNERS, 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