Retirement plan

SPOKANE EYE CLINIC, PS AND INLAND EMPIRE OPTICAL EMPLOYEES 401(K) PROFIT SHARING PLAN

Name: SPOKANE EYE CLINIC PS - SPOKANE EYE CLINIC, PS AND INLAND EMPIRE OPTICAL EMPLOYEES 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: SPOKANE EYE CLINIC PS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SPOKANE EYE CLINIC, PS AND INLAND EMPIRE OPTICAL EMPLOYEES 401(K) PROFIT SHARING PLAN, SPOKANE EYE CLINIC PS

SPOKANE EYE CLINIC PSEIN 91-0852217Plan #001PY 2023

427 SOUTH BERNARD STREET - SPOKANE, WA 99204509-456-0107LinkedIn1-10 employeesmedical practice

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$40.3M

+10.2% from 2022

Total participants

391

+12.4% from 2022

Average account balance

$105,299

-0.7% from 2022

Annual return

11.95%

+24.44 pp from 2022

Benchmarks

See 4,042 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort4,042 peers

Snapshot2023

See peer percentile detail. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$46.06M

Not enough data

1 years with asset history on file

Average account balance

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

$112K

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.

411

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.

99.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.81M

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

+15.78%

Not enough data

1 years with return on file

Admin fee / account holder

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

$331

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

See the 9-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

Start for $4.99 See plans

Service providers

Top 4 by compensation

Provider	Service type	Compensation
WASHINGTON TRUST BANK8+ years Service code 99 717 W SPRAGUE AVE · SPOKANE, WA 99201	Other Fees	$46,842
GREAT-WEST LIFE & ANNUITY INSURANCE7 years Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$26,154
MASSACHUSETTS MUTUAL LIFE INS. CO.2 years Filed as: MML INVESTORS SERVICES, LLC Service code 26 PO BOX 8099 · SPRINGFIELD, MA 011028099	Advisory (Participants)	$14,031
ULRICH CONSULTING GROUP2 years Filed as: ULRICH INVESTMENT CONSULTANTS Service code 26 1805 RIO GRANDE BLVD. NW, STE 1 · ALBUQUERQUE, NM 87104	Advisory (Participants)	$1,266

Plan features & details

Pension benefit codes2E2J2F2G2R3D3H

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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$127K

$479 / participant

Investment mgmt$56K43.5%
Contract admin$72K56.5%

% of EOY assets

0.316%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.

Auditor firm: SCHOEDEL & SCHOEDEL, CPAS PLLC
Auditor EIN: 910614823
Audit fees: (not subdivided)
Opinion code: Disclaimer

Look up a plan sponsor by EIN. Free Form 5500 search. No signup.

Metric

This plan

Peer set

Industry

Size

Avg account balance

$105,299

$47,126+123.4%

$149,673-29.6%

$74,419+41.5%

Participation rate

97.0%

63.4%+33.6pp

78.8%+18.2pp

70.7%+26.3pp

Annual return

11.95%

22.75%-10.8pp

134.42%-122.5pp

34.38%-22.4pp

Employer contribution / active EE

$5,792

$1,905+204.0%

$4,818+20.2%

$2,637+119.6%

Participant deferral / active EE

$4,418

$2,728+61.9%

$5,680-22.2%

$4,528-2.4%

Admin fee / account holder

$333

$343-2.9%

$13,210-97.5%

$348-4.3%

Provider

Service type

Compensation

WASHINGTON TRUST BANK8+ years

Service code 99

717 W SPRAGUE AVE · SPOKANE, WA 99201

Other Fees

$46,842

GREAT-WEST LIFE & ANNUITY INSURANCE7 years

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$26,154

MASSACHUSETTS MUTUAL LIFE INS. CO.2 years

Filed as: MML INVESTORS SERVICES, LLC

Service code 26

PO BOX 8099 · SPRINGFIELD, MA 011028099

Advisory (Participants)

$14,031

ULRICH CONSULTING GROUP2 years

Filed as: ULRICH INVESTMENT CONSULTANTS

Service code 26

1805 RIO GRANDE BLVD. NW, STE 1 · ALBUQUERQUE, NM 87104

Advisory (Participants)

$1,266

SPOKANE EYE CLINIC, PS AND INLAND EMPIRE OPTICAL EMPLOYEES 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SPOKANE EYE CLINIC, PS AND INLAND EMPIRE OPTICAL EMPLOYEES 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