Retirement plan

TANNER MEMORIAL CLINIC EMPLOYEE 401(K)PROFIT SHARING PLAN

Name: TANNER MEMORIAL CLINIC - TANNER MEMORIAL CLINIC EMPLOYEE 401(K)PROFIT SHARING PLAN (2023) Form 5500
Creator: TANNER MEMORIAL CLINIC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TANNER MEMORIAL CLINIC EMPLOYEE 401(K)PROFIT SHARING PLAN, TANNER MEMORIAL CLINIC

TANNER MEMORIAL CLINICEIN 87-0218917Plan #001PY 2023

P.O. BOX 337 - LAYTON, UT 840411131801-773-4840LinkedIn51-200 employeeshospital & health care

Prospect flagsLow returnsLow participation

How to read this page

Total assets (EOY)

$135.5M

+16.5% from 2022

Total participants

1,541

+35.2% from 2022

Average account balance

$132,565

+7.0% from 2022

Annual return

14.86%

+29.54 pp from 2022

Benchmarks

See 1,406 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants1,000-4,999

Cohort1,406 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$146.43M

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.

1,154

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.

71.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$11.28M

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

+10.09%

Not enough data

1 years with return on file

Admin fee / account holder

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

$95

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 2 by compensation

Provider	Service type	Compensation
MERRILL LYNCH PIERCE FENNER & SMITH9+ years Filed as: MERRILL LYNCH, PIERCE, FENNER AND S Service code 15 · EIN 13-5674085	Recordkeeping	$28,309
KHSA9+ years Service code 10 · EIN 87-0470666 111 EAST BROADWAY,STE 250 · SALT LAKE CITY, UT 84111	Accounting	$16,000

Plan features & details

Pension benefit codes2E2F2G2J2K2T2R3D

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.
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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$73K

$60 / participant

Recordkeeping$18K24.5%
Other / not subdivided$55K75.5%

% of EOY assets

0.054%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: KARREN, HENDRIX, STAGG, ALLEN & CO
Auditor EIN: 870470666
Audit fees: $55,000
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$132,565

$50,151+164.3%

$149,696-11.4%

$80,157+65.4%

Participation rate

57.0%

64.3%-7.3pp

78.8%-21.8pp

72.9%-15.9pp

Annual return

14.86%

29.80%-14.9pp

134.46%-119.6pp

40.39%-25.5pp

Employer contribution / active EE

$5,698

$1,867+205.2%

$4,821+18.2%

$2,977+91.4%

Participant deferral / active EE

$3,115

$3,194-2.5%

$5,682-45.2%

$5,015-37.9%

Admin fee / account holder

$71

$153-53.3%

$13,212-99.5%

$145-50.8%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH9+ years

Filed as: MERRILL LYNCH, PIERCE, FENNER AND S

Service code 15 · EIN 13-5674085

Recordkeeping

$28,309

KHSA9+ years

Service code 10 · EIN 87-0470666

111 EAST BROADWAY,STE 250 · SALT LAKE CITY, UT 84111

Accounting

$16,000

TANNER MEMORIAL CLINIC EMPLOYEE 401(K)PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TANNER MEMORIAL CLINIC EMPLOYEE 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