Iowa › Health care and social assistance › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
McFarland Clinic, P.C. 401(k) Profit Sharing Plan
Sponsored by McFarland Clinic, P.C., Ames, IA
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
McFarland Clinic, P.C. of Ames, Iowa sponsors McFarland Clinic, P.C. 401(k) Profit Sharing Plan, a 401(k) plan. Its Form 5500 for the plan year ending 31 Dec 2024 shows 1,848 participants (1,393 active) and $488M in net assets.
Net assets came to $263,996 per participant, well above the $50,295 median for defined contribution plans with 1,000 to 4,999 participants and well above the $30,764 median for defined contribution plans in health care and social assistance. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
The employer contributed $12.6M during the year, or $9,022 per active participant against a same-size median of $2,045; participants contributed $10.4M and $1.6M arrived as rollovers and other contributions. Benefits paid out totalled $43.0M.
Schedule C lists 10 service provider organisations paid $5,000 or more, with reported compensation of $626K: $339 per participant, well above the same-size median of $82.08. Administrative expenses charged to the plan were $614K. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
Across the filings on record, net assets went from $189M in 2009 to $488M in 2024 (up 159%), and participants from 1,555 to 1,848 (up 19%).
The independent accountant's opinion on the financial statements was unmodified (unqualified), from an audit whose scope was limited under ERISA section 103(a)(3)(C) to exclude investment information certified by a bank or insurer.
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $263,996 | $50,295 | $30,764 | $53,102 |
| Employer contributions per active participant | $9,022 | $2,045 | $1,536 | $2,175 |
| Schedule C compensation per participant | $339 | $82.08 | $93.85 | $123 |
| Schedule C compensation, share of net assets | 0.13% | 0.17% | 0.31% | 0.26% |
| Administrative expenses per participant | $332 | $82.20 | $86.53 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 1,000 to 4,999 participants (10,207 plans), health care and social assistance (9,402) and all US plans (63,460). Fee medians cover plans that report an amount.
Trend by plan year
| Plan year | Participants | Net assets | Per participant | Employer contributions | Participant contributions | Schedule C compensation |
|---|---|---|---|---|---|---|
| 2024 | 1,848 | $488M | $263,996 | $12.6M | $10.4M | $626K |
| 2023 | 1,958 | $448M | $228,910 | $12.4M | $10.4M | $552K |
| 2022 | 1,962 | $405M | $206,479 | $11.7M | $9.6M | $575K |
| 2021 | 1,886 | $491M | $260,580 | $10.9M | $8.8M | $595K |
| 2020 | 1,823 | $439M | $240,867 | $10.1M | $8.1M | $499K |
| 2019 | 1,780 | $397M | $223,096 | $10.2M | $8.3M | $433K |
| 2018 | 1,761 | $325M | $184,436 | $10.6M | $8.1M | $504K |
| 2017 | 1,670 | $356M | $213,326 | $10.3M | $7.7M | $488K |
| 2016 | 1,633 | $310M | $189,933 | $9.9M | $7.5M | $498K |
| 2015 | 1,583 | $288M | $181,913 | $9.8M | $7.4M | $387K |
| 2014 | 1,533 | $293M | $190,810 | $9.5M | $7.1M | $380K |
| 2013 | 1,516 | $292M | $192,745 | $9.5M | $7.0M | $323K |
| 2012 | 1,537 | $245M | $159,167 | $9.3M | $6.8M | $297K |
| 2011 | 1,524 | $218M | $142,751 | $9.0M | $6.7M | $279K |
| 2010 | 1,539 | $214M | $138,911 | $8.4M | $6.4M | $223K |
| 2009 | 1,555 | $189M | $121,282 | $8.6M | $6.3M | $159K |
Years in which the plan filed the full Form 5500 with 100 or more participants, from 2009. Plan year is the year in which the plan year began.
Statement for the year
- Net assets, beginning of year$448,205,082
- Employer contributions$12,567,995
- Participant contributions$10,406,284
- Rollovers and other contributions$1,567,877
- Total contributions$24,542,156
- Total income, including investment results$83,292,786
- Benefits paid$43,002,989
- Administrative expenses$613,874
- Total expenses$43,632,802
- Net income$39,659,984
- Net transfers$0
- Net assets, end of year$487,865,066
Participants
- Active participants1,393
- Retired or separated, receiving benefits0
- Retired or separated, entitled to future benefits449
- Participants with account balances1,797
- Total participants, end of year1,848
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Foster Group Inc. | Investment advisory (participants) | $291,364 | $0 |
| Schwab Retirement Plan Services Inc. | Recordkeeping and information management; Investment advisory (participants) | $137,515 | $0 |
| Envestnet Asset Management Inc. | Investment advisory (participants) | $55,509 | $0 |
| Steele Capital Management Inc. | Investment advisory (participants) | $45,663 | $0 |
| Iowa Wealth Management LLC | Investment advisory (participants) | $26,680 | $0 |
| Morningstar Inc. | Investment management | $21,041 | $0 |
| Five Talents Financial | Investment advisory (participants) | $14,937 | $0 |
| Brinker Capital Investments LL | Investment advisory (participants) | $13,600 | $0 |
| Larson Financial Group LLC | Investment advisory (participants) | $10,412 | $0 |
| Charles Schwab & Co., Inc. | Securities brokerage | $9,565 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Administrative expenses on Schedule H
- Investment advisory and management fees$487,979
- Recordkeeping fees$125,895
- Total administrative expenses$613,874
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Common/collective trusts$255M · 52.3%
- Other investments$125M · 25.7%
- Registered investment companies (mutual funds)$105M · 21.6%
- Participant loans$2.0M · 0.4%
- Partnership/joint venture interests$63K · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmUhy LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $500,000
- Blackout period during the yearNo
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
2EProfit-sharing plan2FERISA section 404(c) plan2GTotal participant-directed account plan2JCode section 401(k) feature2KCode section 401(m) arrangement2RParticipant-directed brokerage accounts provided as an investment option under the plan2S401(k) plan or 403(b) plan that provides for automatic enrollment2TTotal or partial participant-directed account plan with a default investment account3DPre-approved pension plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 621111: Offices of Physicians (except mental health specialists).
Similar plans in Iowa
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Abcm Corporation 401(k) Profit Sharing Plan | Abcm Corporation | 2,366 | $6.1M | $2,576 |
| The Iowa Clinic 401(k) Profit Sharing Plan | The Iowa Clinic, P.C. | 1,817 | $329M | $181,014 |
| Wesleylife 401(k) Profit Sharing Plan | Wesleylife | 2,708 | $38.8M | $14,315 |
| Childserve Employee Retirement Plan | Childserve Inc. | 1,685 | $40.9M | $24,256 |
| Great River Health System, Inc. 401(k) Retirement Plan | Great River Health System, Inc. | 2,781 | $183M | $65,839 |
| Accura Healthcare Management Services 401(k) Retirement Plan | American Healthcare Management S | 1,616 | $7.1M | $4,387 |
Defined contribution plans in health care and social assistance closest in size.
Questions and answers
How big is McFarland Clinic, P.C. 401(k) Profit Sharing Plan?
1,848 participants at the end of the plan year ending 31 Dec 2024, of whom 1,393 were active employees, with net assets of $487,865,066. Among defined contribution plans that places it in the 1,000 to 4,999 participants band, which held 10,207 plans in plan year 2024.
What does McFarland Clinic, P.C. contribute per participant?
The filing reports $12,567,995 in employer contributions for the year, which is $9,022 per active participant; the median for plans of the same type and size was $2,045 in plan year 2024. Form 5500 reports the total only. It does not state the match formula, and the per-participant figure is an average, not any one person's contribution.
What fees does the plan pay and how do they compare?
Schedule C reports $626,286 in compensation to service provider organisations, $339 per participant or 0.13% of net assets. The same-size median among plans reporting any Schedule C compensation was $82.08 per participant. Administrative expenses on Schedule H were $613,874. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is McFarland Clinic, P.C.. Recordkeeping or administration: Schwab Retirement Plan Services Inc.. Investment advisory or management: Foster Group Inc., Schwab Retirement Plan Services Inc. and Envestnet Asset Management Inc.. The financial statements were audited by Uhy LLP. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an unmodified (unqualified) opinion from a limited-scope audit, in which the accountant did not audit investment information certified by a bank or insurance company. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Jan 2024 to 31 Dec 2024, received by the Department of Labor on 29 Oct 2025. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 42-1089512, plan 002, received 29 Oct 2025; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.