Tidewater Physicians Multispecialty Group, P.C. 401(k) Review & Grade
Tidewater Physicians Multispecialty Group, P.C. 401(k) Plan
Newport News, VAHealth Care & Social Assistance1,098 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$6,154Employer $ per active participant
$6,478Employee $ saved per active participant
0.14%Direct admin cost, % of plan assets
$168.9MNet plan assets, end of year
$117,348Average balance per account
Score breakdown
- Employer generosity46.9 / 5094th percentile for employer $ per participant
- Low cost16.2 / 2565th percentile for low admin cost vs. same-size plans
- Employee saving13.6 / 1591th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
Total score77 / 100 · Grade A
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 94th |
| Lower admin cost | 65th |
| Employee saving | 91th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Tidewater Physicians Multispecialty Group put in about $6,154 per active participant, more than the typical peer ($976). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $6,759,771 |
| Participant (employee) contributions | $7,115,639 |
| Other contributions (incl. rollovers in) | $512,438 |
| Administrative expenses paid from the plan | $222,624 |
| Investment advisory & management fees | $137,453 |
| Benefits paid out | $13,501,951 |
| Net assets, start / end of year | $146.3M / $168.9M |
| Active participants, start / end of year | 1,092 / 1,105 |
| Participants with account balances | 1,439 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cherry Bekaert LLP |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services,inc | $92,271 reported compensation |
| Capfinancial Partners,llc | $74,793 reported compensation |
| 49 Wealth Management LLC | $18,459 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015134202NAL0002507731001, received 2025-10-15, EIN 54-1634477, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.