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Retirement plan

BRONSON HEALTHCARE GROUP, INC. 403(B) TAX SHELTERED MATCHING PLAN

BRONSON HEALTHCARE GROUP, INC.EIN 38-2418383Plan #003PY 2023
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601 JOHN ST, BOX G - KALAMAZOO, MI 49007269-341-8750LinkedIn1001-5000 employeesmedical practice
Other plans on this EIN
1 filing
#004Retirement-$306.1M assets
Prospect flagsFailed to provide benefitCorrective distributions

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(269) 341-8750
Plan administrator signer
PAT MCCANN
Signed 10/14/2024
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Summary metrics

Total assets (EOY)
$1034.5M
-12.5% from 2016
Total participants
11,753
-9.3% from 2016
Average account balance
$90,395
-3.1% from 2016
Annual return
21.91%
-5.91 pp from 2016

Benchmarks

See 224 peers
Peer group
Industry62 - Health Care and Social Assistance
Plan typeDefined contribution
Participants5,000-9,999
Cohort224 peers
Snapshot2023
Participant deferral / active EE
$5,420
median $3,891
Employer contribution / active EE
$3,576
median $1,822
Participation rate
96.5%
median 84.7%
Avg account balance
$90,395
median $50,688
Admin fee / account holder
$93
median $57
Annual return
21.91%
median 18.52%
Overall peer rank
68th 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)
$99K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
11,927
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
93.6%
Contributions (total)
Employer and participant dollars contributed each year
$84.42M
Contributions per participant
Average employer and participant contribution per enrolled participant
$9K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+15.60%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$81
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
  • Mutual / pooled
  • Stocks
  • Bonds
  • Cash
  • Real estate
  • Loans

Service providers

Top 6 by compensation
ProviderService typeCompensation
FIDELITY INVESTMENTS INSTITUTIONAL9+ years
Service code 37 · EIN 04-2647786
Loan Processing
$813,480
STRATEGIC ADVISORS, INC.3 years
Service code 27 · EIN 04-2654524
Advisory (Plan)
$132,379
IGRAD INC.2 years
Service code 16 · EIN 26-4099061
Consulting
$55,373
CAPFINANCIAL PARTNERS, LLC2 years
Service code 16 · EIN 26-0058143
Consulting
$35,000
PLANTE MORAN2 years
Service code 10 · EIN 38-1357951
Accounting
$23,800
WILLIS TOWERS WATSON1 year
Service code 28 · EIN 53-0181291
Investment Management
$10,417

Top hat statement on fileNQDC

Filed April 1, 2022 (most recent of 3 filings on file)

Plan administrator

Plan administrator name— Sign in and upgrade to view
601 John Street, Box G
Kalamazoo, MI 49007
Email— Sign in and upgrade to viewPhone— Sign in and upgrade to view

Plans declared (1)

  • Bronson Healthcare Group Supplemental Retention Plan for CEO1 emp
Open the filing PDF

Plan features & details

Pension benefit codes2T2L2M2R
Plan features
  • 2L
    Code section 403(b)(1) arrangement
    Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
  • 2M
    Code section 403(b)(7) accounts
    Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
  • 2R
    Participant-directed brokerage accounts
    Participant-directed brokerage accounts provided as an investment option under the plan.
  • 2T
    Default investment account
    Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.

Opportunity flags

2 tripped
  • ComplianceFailed to provide benefit

    Form 5500 reported that benefits due were not provided when due.

  • ComplianceCorrective distributions

    Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II
Admin total
$1.1M
$122 / participant
  • Recordkeeping$761K71.2%
  • Investment mgmt$179K16.7%
  • Contract admin$5K0.5%
  • Other / not subdivided$125K11.7%
% of EOY assets
0.103%
all-in expense ratio
Categories reported
3 / 9
subdivided buckets used

Audit opinion

Schedule H Part III
Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm
PLANTE & MORAN
Auditor EIN
381359751
Audit fees
$23,800
Opinion code
Unqualified