Plan Ledger DOL Form 5500 · updated monthly

Phynet Dermatology, LLC401(k)

PHYNET DERMATOLOGY, LLC 401(K) PLAN · FRANKLIN, TN · plan year 2024

Reported admin expense ratio · 2024
0.42%

Phynet Dermatology, LLC reported $201,993 in plan administrative expenses for 2024: 0.42% of average plan assets, above the peer median. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.

Across the 2 years on file its reported administrative ratio fell from 0.74% to 0.42%. The plan sits in the $10M–$50M size bracket, benchmarked here against 27,838 comparable plans and shown alongside other health care & social assistance employers. By assets it is the 269th-largest of 1,496 plans among Tennessee employers on file, and the 1,735th of 11,911 in health care & social assistance. active participation has grown from 1,216 to 1,446 since 2022.

Plan summary
Net assets, end of year$54,640,926
Participants with balances2,060
Active participants1,446
Employer contributions—
Employee contributions$7,866,581
Employer contribution per active participant—
Average account balance$26,525
Benefits paid to participants$5,156,196
Plan auditUnmodified (clean) audit opinion
Plan history3
Yearassets · accounts · employer contribution
2024$54.6M · 2,060 accts
2023$42.1M · 1,642 accts
2022$30.1M · 1,453 accts
Administrative expenses, itemized · 2024
Recordkeeping & contract admin$177,262
Trustee / custodial$24,731
Total administrative$201,993
What these fees cost you

Annual cost at the plan's reported 2024 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.

Service providers · 20242
NEWPORT GROUP, INC. · Contract administrator · Recordkeeping$177,262
NEWPORT TRUST COMPANY · Trustee$24,731

Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.

Recordkeeper by year2
2024Newport (Ascensus)
2023Newport (Ascensus)

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Administrative cost history3
2024$201,993 · 0.42%
2023$186,211 · 0.52%
2022$230,643 · 0.74%
Same employer
Similar plansHealth Care & Social Assistance · Tennessee
Paragon Anesthesia, P.C. TN$55.2M · 0.11%
Healthstar Physicians PC TN$53.8M · 0.35%
Monroe Operations, LLC TN$51.3M · 0.78%

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Source: U.S. Department of Labor, Form 5500 series, EIN 822598872 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.