Retirement plan

MEDICAL REVIEW INSTITUTE OF AMERICA 401(K) PLAN

Name: MEDICAL REVIEW INSTITUTE OF AMERICA - MEDICAL REVIEW INSTITUTE OF AMERICA 401(K) PLAN (2024) Form 5500
Creator: MEDICAL REVIEW INSTITUTE OF AMERICA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MEDICAL REVIEW INSTITUTE OF AMERICA 401(K) PLAN, MEDICAL REVIEW INSTITUTE OF AMERICA

MEDICAL REVIEW INSTITUTE OF AMERICAEIN 87-0515201Plan #001PY 2024

2875 DECKER LAKE DRIVE, #300 - SALT LAKE CITY, UT 84119801-261-3003mrioa.comLinkedIn501-1000 employeeshospital & health care

Prospect flagsLow assets / participantLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$24.8M

+22.7% from 2023

Total participants

598

+25.9% from 2023

Average account balance

$42,165

-2.6% from 2023

Annual return

15.04%

-3.34 pp from 2023

Benchmarks

See 1,547 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,547 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$24.75M

Not enough data

1 years with asset history on file

Average account balance

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

$42K

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.

587

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.

97.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.17M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+15.04%

Not enough data

1 years with return on file

Admin fee / account holder

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

$196

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 4 by compensation

Provider	Service type	Compensation
LPL FINANCIAL4 years Service code 27 PO BOX 502533 · SAN DIEGO, CA 92150	Advisory (Plan)	$49,049
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 · EIN 84-0467907 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$39,047
WC ADMINISTRATORS, LLC6 years Service code 13 · EIN 20-1663072 6995 UNION PARK CENTER #320 · MIDVALE, UT 84047	Contract Administrator	$24,861
LEAFHOUSE FINANCIAL ADVISORS, LLC4 years Service code 99 · EIN 26-4311657 6504 BRIDGE POINT PKWY #450 · AUSTIN, TX 78730	Other Fees	$10,928

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D

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.
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

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$115K

$225 / participant

Contract admin$105K90.9%
Other / not subdivided$10K9.1%

% of EOY assets

0.466%

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: TRAVELLER & COMPANY, LLC
Auditor EIN: 870668060
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$42,165

$129,227-67.4%

$184,256-77.1%

$77,762-45.8%

Participation rate

97.9%

87.4%+10.5pp

86.8%+11.0pp

70.6%+27.3pp

Annual return

15.04%

33.24%-18.2pp

28.85%-13.8pp

31.27%-16.2pp

Employer contribution / active EE

$1,239

$4,412-71.9%

$6,427-80.7%

$2,728-54.6%

Participant deferral / active EE

$6,881

$7,307-5.8%

$9,133-24.7%

$4,651+48.0%

Admin fee / account holder

$196

$256-23.2%

$13,899-98.6%

$433-54.6%

Provider

Service type

Compensation

LPL FINANCIAL4 years

Service code 27

PO BOX 502533 · SAN DIEGO, CA 92150

Advisory (Plan)

$49,049

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64 · EIN 84-0467907

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$39,047

WC ADMINISTRATORS, LLC6 years

Service code 13 · EIN 20-1663072

6995 UNION PARK CENTER #320 · MIDVALE, UT 84047

Contract Administrator

$24,861

LEAFHOUSE FINANCIAL ADVISORS, LLC4 years

Service code 99 · EIN 26-4311657

6504 BRIDGE POINT PKWY #450 · AUSTIN, TX 78730

Other Fees

$10,928

MEDICAL REVIEW INSTITUTE OF AMERICA 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MEDICAL REVIEW INSTITUTE OF AMERICA 401(K) 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