Independent Physicians Resource, Inc. 401(k) Review & Grade
Independent Physicians 401(k) Profit Sharing Plan
Atlanta, GAProfessional, Scientific & Technical Services1,464 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,158Employer $ per active participant
$4,916Employee $ saved per active participant
0.35%Direct admin cost, % of plan assets
$84.4MNet plan assets, end of year
$73,383Average balance per account
Score breakdown
- Employer generosity17.9 / 5036th percentile for employer $ per participant
- Low cost8.9 / 2536th percentile for low admin cost vs. same-size plans
- Employee saving3.7 / 1525th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score31 / 100 · Grade D
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 36th |
| Lower admin cost | 36th |
| Employee saving | 25th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $3,258 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Independent Physicians Resource put in about $2,158 per active participant, below the typical peer ($3,082). Any match is still an instant return, so contribute enough to get all of it.
- 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.
- Direct plan expenses (0.35% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $3,160,967 |
| Participant (employee) contributions | $7,198,811 |
| Other contributions (incl. rollovers in) | $2,827,076 |
| Administrative expenses paid from the plan | $261,837 |
| Contract administrator fees | $114,644 |
| Investment advisory & management fees | $101,250 |
| Other admin expenses | $14,443 |
| Benefits paid out | $5,460,380 |
| Net assets, start / end of year | $66.8M / $84.4M |
| Active participants, start / end of year | 1,323 / 1,606 |
| Participants with account balances | 1,150 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Windham Brannon, LLC |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $114,644 reported compensation |
| Onedigital Investment Ad | $101,250 reported compensation |
| Independent Physicians R | $17,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250919085759NAL0002104961001, received 2025-09-19, EIN 58-2287138, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.