Plan Snapshot
- Plan Sponsor: Medical Specialists Of The Palm Beaches, INC.
- Sponsor EIN: 650580501
- Sponsor Address: 7593 W. BOYNTON BEACH BLVD, BOYNTON BEACH, FL, 33437
- Plan Type: 401(k)
- Total Participants: 316
- Total Assets: $52.3M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- Participant Loans: Yes
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2023 | 316 | $52.3M | $970,285 | $1.7M |
| 2022 | 268 | $47.7M | $764,768 | $1.5M |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| PNC RETIREMENT SOLUTIONS | INVESTMENT ADVISOR | $98,438 | — | $98,438 |
| LINCOLN NATIONAL CORPORATION | CONTRACT ADMIN | $94,496 | — | $94,496 |
| KAUFMAN ROSSIN & CO | AUDITOR | $42,000 | — | $42,000 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- LINCOLN NATIONAL CORPORATION — CONTRACT ADMIN
- KAUFMAN ROSSIN & CO — AUDITOR
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $234,934
- Estimated Expense Ratio: 0.450% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2023 | $117,467 | $49,219 | $47,248 | $21,000 | — |
| 2022 | $138,365 | $77,311 | $32,704 | — | $28,350 |