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Recordkeeping fees per participant · Medical Information Technology, Inc. 401(k) Plan · plan year 2024
$44.50
Higher than 32% of the 5,847 plans $50 to 250M that report it.
= $126,731 / 2,848
Schedule H, line 2i(3); OTH_RECORDKEEPING_FEES_AMT pos 160; filing 20250729152511NAL0007971634001, received 2025-07-29
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250729152511NAL0007971634001, received 2025-07-29
Percentiles compare this plan with the Schedule H plans $50 to 250M in assets of the same plan year, excluding final filings; shown only where at least 50 comparable plans report the figure. Plan year 2024-01-01 to 2024-12-31, filing received 2025-07-29.
Administrative expenses excluding investment management, per participant
$45.80
Higher than 23% of the 8,758 plans $50 to 250M that report it.
= $130,441 / 2,848
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250729152511NAL0007971634001, received 2025-07-29
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250729152511NAL0007971634001, received 2025-07-29
Administrative expenses per participant
$67.44
Higher than 22% of the 9,042 plans $50 to 250M that report it.
= $192,058 / 2,848
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250729152511NAL0007971634001, received 2025-07-29
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250729152511NAL0007971634001, received 2025-07-29
Administrative expenses as a share of assets
0.186%
Higher than 65% of the 9,049 plans $50 to 250M that report it.
= $192,058 / $103,126,418
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250729152511NAL0007971634001, received 2025-07-29
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250729152511NAL0007971634001, received 2025-07-29
Employer contributions per participant
$0
Higher than 0% of the 9,105 plans $50 to 250M that report it.
= $1,371 / 2,848
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250729152511NAL0007971634001, received 2025-07-29
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250729152511NAL0007971634001, received 2025-07-29
Employer share of total contributions
0.0%
Higher than 0% of the 9,112 plans $50 to 250M that report it.
= $1,371 / $17,783,830
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250729152511NAL0007971634001, received 2025-07-29
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250729152511NAL0007971634001, received 2025-07-29
Plan terms are described in Medical Information Technology, Inc.'s SEC filings: Form 10-K filed 2020-01-31. No term could be quoted from them with the required precision.
2E profit-sharing · 2F ERISA 404(c) plan · 2G fully participant-directed · 2J 401(k) feature · 2K 401(m) arrangement · 2S pre-approved plan document · 2T default investment (QDIA) · 3D IRS pre-approved plan · Form 5500, line 8a; TYPE_PENSION_BNFT_CODE pos 81; filing 20250729152511NAL0007971634001, received 2025-07-29
| Field | Value | Source |
|---|---|---|
| Plan sponsor | MEDICAL INFORMATION TECHNOLOGY, INC | Form 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20250729152511NAL0007971634001, received 2025-07-29 |
| Plan name | MEDICAL INFORMATION TECHNOLOGY, INC. 401(K) PLAN | Form 5500, line 1a; PLAN_NAME pos 16; filing 20250729152511NAL0007971634001, received 2025-07-29 |
| Sponsor EIN / plan number | 04-2455639 / 005 | Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20250729152511NAL0007971634001, received 2025-07-29 |
| Plan type | single-employer | Form 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20250729152511NAL0007971634001, received 2025-07-29 |
| Sponsor location | CANTON, MA | Form 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20250729152511NAL0007971634001, received 2025-07-29 |
| Industry (business code) | 339900, Manufacturing | Form 5500, line 2d; BUSINESS_CODE pos 46; filing 20250729152511NAL0007971634001, received 2025-07-29 |
| Plan year | 2024-01-01 to 2024-12-31 | Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20250729152511NAL0007971634001, received 2025-07-29 |
| Filing received | 2025-07-29 | Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20250729152511NAL0007971634001, received 2025-07-29 |
| Final filing | no | Form 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20250729152511NAL0007971634001, received 2025-07-29 |
| Amended filing | no | Form 5500, Part I line B; AMENDED_IND pos 7; filing 20250729152511NAL0007971634001, received 2025-07-29 |
| Participants, beginning of year | 3,533 | Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20250729152511NAL0007971634001, received 2025-07-29 |
| Active participants | 3,338 | Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20250729152511NAL0007971634001, received 2025-07-29 |
| Participants, end of year | 3,587 | Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20250729152511NAL0007971634001, received 2025-07-29 |
| Participants with an account balance | 2,848 | Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250729152511NAL0007971634001, received 2025-07-29 |
| Total assets, beginning of year | $78,254,617 | Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20250729152511NAL0007971634001, received 2025-07-29 |
| Total assets, end of year | $103,126,418 | Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250729152511NAL0007971634001, received 2025-07-29 |
| Net assets, end of year | $103,126,418 | Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20250729152511NAL0007971634001, received 2025-07-29 |
| Total income | $28,554,707 | Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20250729152511NAL0007971634001, received 2025-07-29 |
| Net income | $24,871,801 | Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20250729152511NAL0007971634001, received 2025-07-29 |
| Employer contributions | $1,371 | Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250729152511NAL0007971634001, received 2025-07-29 |
| Participant contributions | $16,942,036 | Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20250729152511NAL0007971634001, received 2025-07-29 |
| Other contributions (incl. rollovers) | $840,423 | Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20250729152511NAL0007971634001, received 2025-07-29 |
| Total contributions | $17,783,830 | Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250729152511NAL0007971634001, received 2025-07-29 |
| Benefit payments | $3,473,259 | Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20250729152511NAL0007971634001, received 2025-07-29 |
| Total expenses (incl. benefit payments) | $3,682,906 | Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20250729152511NAL0007971634001, received 2025-07-29 |
| Total administrative expenses | $192,058 | Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250729152511NAL0007971634001, received 2025-07-29 |
| Recordkeeping fees | $126,731 | Schedule H, line 2i(3); OTH_RECORDKEEPING_FEES_AMT pos 160; filing 20250729152511NAL0007971634001, received 2025-07-29 |
| IQPA audit fees | $3,510 | Schedule H, line 2i(4); IQPA_AUDIT_FEES_AMT pos 161; filing 20250729152511NAL0007971634001, received 2025-07-29 |
| Investment advisory and management fees | $61,617 | Schedule H, line 2i(5); INVST_MGMT_FEES_AMT pos 107; filing 20250729152511NAL0007971634001, received 2025-07-29 |
| Administrative expenses excluding investment management | $130,441 | derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250729152511NAL0007971634001, received 2025-07-29 |
| Held in common/collective trusts | $77,361,151 | Schedule H, line 1c(9) col (b); INT_COMMON_TR_EOY_AMT pos 51; filing 20250729152511NAL0007971634001, received 2025-07-29 |
| Held in mutual funds | $3,862,901 | Schedule H, line 1c(13) col (b); INT_REG_INVST_CO_EOY_AMT pos 55; filing 20250729152511NAL0007971634001, received 2025-07-29 |
| Independent auditor | WOLF & COMPANY, P.C. | Schedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20250729152511NAL0007971634001, received 2025-07-29 |
Position = column in the DOL layout for form year 2024. Filing 20250729152511NAL0007971634001, received 2025-07-29.
| Provider | Relationship | Service codes | Direct compensation | Indirect |
|---|---|---|---|---|
| EMPOWER ANNUITY INSURANCE COMPANY Orecordkeeper | RECORDKEEPER | 64 Recordkeeping fees; 50 Direct payment from the plan; 13 Contract administrator; 65 Account maintenance fees; 15 Recordkeeping and information management | $126,731 | yes |
| CREATIVE PLANNING HOLDCO LLC DBA CR | INVESTMENT ADVISOR | 27 Investment advisory (plan) | $61,617 | no |
| WOLF & COMPANY, P.C. | AUDITOR | 10 Accounting (including auditing) | $3,510 | no |
Schedule C Part I line 2: name (a), service codes (b), relationship (c), direct compensation paid by the plan (d), indirect compensation received (e). Filing 20250729152511NAL0007971634001, received 2025-07-29.
| Figure | 2023 | 2024 | Change |
|---|---|---|---|
| Total assets | $78,254,617 | $103,126,418 | 31.8% |
| Participants with a balance | 2,816 | 2,848 | 1.1% |
| Administrative expenses | $201,804 | $192,058 | -4.8% |
| Recordkeeping fees per participant | not reported | $44.50 | |
| Employer contributions | not reported | $1,371 |
Prior filing 20240730144040NAL0020234161001, received 2024-07-30; the plan years are contiguous.
Sponsor name as filed: MEDICAL INFORMATION TECHNOLOGY, INC; SEC registrant: Medical Information Technology, Inc. (CIK 1011452, matched by EIN).