Retirement plan

HERITAGE MEDICAL GROUP RETIREMENT SAVINGS 401(K) PLAN

Name: HIGH DESERT MEDICAL CORPORATION - HERITAGE MEDICAL GROUP RETIREMENT SAVINGS 401(K) PLAN (2019) Form 5500
Creator: HIGH DESERT MEDICAL CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HERITAGE MEDICAL GROUP RETIREMENT SAVINGS 401(K) PLAN, HIGH DESERT MEDICAL CORPORATION

HIGH DESERT MEDICAL CORPORATIONEIN 95-3930862Plan #002PY 2019

43839 15TH STREET WEST - LANCASTER, CA 93534661-726-3906LinkedIn1001-5000 employeeshospital & health care

Prospect flagsLow participationFailed to transmit contributionsFailed to provide benefitCorrective distributions

How to read this page

Total assets (EOY)

$147.7M

+24.9% from 2018

Total participants

4,997

+1.8% from 2018

Average account balance

$50,107

+19.4% from 2018

Annual return

21.40%

+26.51 pp from 2018

Benchmarks

See 1,326 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants1,000-4,999

Cohort1,326 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$244.66M

Not enough data

1 years with asset history on file

Average account balance

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

$67K

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.

3,663

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.

55.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$22.33M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+14.24%

Not enough data

1 years with return on file

Admin fee / account holder

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

$126

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 3 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL5+ years Service code 60 · EIN 04-2647786	Sub-TA Fees	$253,245
SAGE ADVISORY SERVICES2 years Filed as: SAGE VIEW ADVISORY GROUP LLC Service code 27 · EIN 33-0818667	Advisory (Plan)	$87,205
HKG LLP5+ years Filed as: HKG, LLP Service code 10 · EIN 95-4552788	Accounting	$16,000

Plan features & details

Pension benefit codes2G2J2K2R2T3D2F

Plan features

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

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceFailed to provide benefit
Form 5500 reported that benefits due were not provided when due.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$363K

$82 / participant

Other / not subdivided$363K100.0%

% of EOY assets

0.246%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: HKG, LLP
Auditor EIN: 954552788
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$50,107

$47,456+5.6%

$172,753-71.0%

$77,775-35.6%

Participation rate

53.5%

66.3%-12.7pp

82.6%-29.1pp

73.2%-19.7pp

Annual return

21.40%

35.57%-14.2pp

803.00%-781.6pp

32.58%-11.2pp

Employer contribution / active EE

$174

$1,574-89.0%

$5,144-96.6%

$2,504-93.1%

Participant deferral / active EE

$3,324

$2,560+29.9%

$5,198-36.0%

$3,966-16.2%

Admin fee / account holder

$123

$81+52.3%

$13,956-99.1%

$100+23.0%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL5+ years

Service code 60 · EIN 04-2647786

Sub-TA Fees

$253,245

SAGE ADVISORY SERVICES2 years

Filed as: SAGE VIEW ADVISORY GROUP LLC

Service code 27 · EIN 33-0818667

Advisory (Plan)

$87,205

HKG LLP5+ years

Filed as: HKG, LLP

Service code 10 · EIN 95-4552788

Accounting

$16,000

HERITAGE MEDICAL GROUP RETIREMENT SAVINGS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HERITAGE MEDICAL GROUP RETIREMENT SAVINGS 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