Retirement plan
NORTHERN LIGHT HEALTH RETIREMENT PARTNERSHIP 403(B) PLAN
EASTERN MAINE HEALTHCARE SYSTEMSdba D/B/A NORTHERN LIGHT HEALTHEIN 01-0527066Plan #002PY 2020
43 WHITING HILL RD - BREWER, ME 04412207-973-7868
Other plans on this EIN
1 filingProspect flagsCorrective distributions
Filing contacts
From the Form 5500, federal recordPlan administrator signer
JOHN DOYLE, NLH VP OF FINANCE
Signed 10/11/2021
Summary metrics
Total assets (EOY)
$951.3M
-16.5% from 2016
Total participants
15,251
-5.1% from 2016
Average account balance
$68,134
-6.0% from 2016
Annual return
15.49%
-15.20 pp from 2016
Benchmarks
Peer group
Industry62 - Health Care and Social Assistance
Plan typeDefined contribution
Participants>=10,000
Cohort228 peers
Snapshot2020
58
Participant deferral / active EE
$4,423
median $3,786
40
Employer contribution / active EE
$1,242
median $1,365
59
Participation rate
89.7%
median 83.8%
64
Avg account balance
$68,134
median $58,490
26
Admin fee / account holder
$68
median $46
27
Annual return
15.49%
median 16.84%
Overall peer rank
46of 100
46th percentileavg across 6 metrics
Analytics
2015 - 2024
Total assets (EOY)
Plan-year ending balance
$1.18B
Average account balance
Total assets / participants with a balance (line 6g)
$83K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
14,112
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
94.9%
Contributions (total)
Employer and participant dollars contributed each year
$79.32M
Contributions per participant
Average employer and participant contribution per enrolled participant
$7K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+13.98%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$77
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
- Mutual / pooled
- Stocks
- Bonds
- Cash
- Real estate
- Loans
Service providers
Top 4 by compensation
| Provider | Service type | Compensation |
|---|---|---|
Service code 37 ยท EIN 04-2647786 PO BOX 770002 ยท CINCINNATI, OH 452770027 | Loan Processing | $793,636 |
Service code 15 ยท EIN 20-5322603 470 ATLANTIC AVENUE ยท BOSTON, MA 02210 | Recordkeeping | $72,517 |
STRATEGIC ADVISORS, INC.2 years Service code 27 ยท EIN 04-2654524 | Advisory (Plan) | $68,044 |
BERRY DUNN6+ years Service code 10 ยท EIN 01-0523282 100 MIDDLE STREEET ยท PORTLAND, ME 04101 | Accounting | $14,915 |
Top hat statement on fileNQDC
Filed October 18, 2006
This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.
Plan features & details
Pension benefit codes2F2G2K2L2M2R2S2T3H
Plan features
- 2FERISA section 404(c) planThis plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
- 2GTotal participant-directed account planParticipants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
- 2KCode section 401(m) arrangementEmployee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
- 2LCode section 403(b)(1) arrangementPlan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
- 2MCode section 403(b)(7) accountsPlan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
- 2RParticipant-directed brokerage accountsParticipant-directed brokerage accounts provided as an investment option under the plan.
- 2SAutomatic enrollmentPlan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
- 2TDefault investment accountTotal or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
- 3HControlled group memberPlan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
Opportunity flags
1 tripped
- ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
Expense breakdown
Schedule H Part II
Admin total
$949K
$76 / participant
- Investment mgmt$141K14.8%
- Contract admin$794K83.6%
- Other / not subdivided$15K1.6%
% of EOY assets
0.100%
all-in expense ratio
Categories reported
2 / 9
subdivided buckets used
Audit opinion
Schedule H Part III
Unqualified opinion
Auditor signed off without reservation - the cleanest possible opinion.
- Auditor firm
- BERRY DUNN MCNEIL AND PARKER
- Auditor EIN
- 010523282
- Audit fees
- (not subdivided)
- Opinion code
- Unqualified