Retirement plan

HARBOR'S EDGE RETIREMENT PLAN

Name: FORT NORFOLK RETIREMENT COMMUNITY, INC. - HARBOR'S EDGE RETIREMENT PLAN (2019) Form 5500
Creator: FORT NORFOLK RETIREMENT COMMUNITY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HARBOR'S EDGE RETIREMENT PLAN, FORT NORFOLK RETIREMENT COMMUNITY, INC.

FORT NORFOLK RETIREMENT COMMUNITY, INC.dba HARBORS EDGEEIN 02-0601375Plan #001PY 2019

ONE COLLEY AVENUE - NORFOLK, VA 23510757-616-7948LinkedIn201-500 employeeshospital & health care

Prospect flagsLow participationLow assets / participantCorrective distributions

How to read this page

Total assets (EOY)

$2.2M

+32.8% from 2018

Total participants

301

+12.7% from 2018

Average account balance

$10,044

+15.1% from 2018

Annual return

19.07%

+12.17 pp from 2018

Benchmarks

See 5,342 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,342 peers

Snapshot2019

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$3.14M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$15K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

209

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

44.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$408K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+11.91%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$221

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

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Service providers

Top 5 by compensation

Provider	Service type	Compensation
BKD, LLP5+ years Filed as: DIXON HUGHES GOODMAN LLP Service code 10 · EIN 56-0747981	Accounting	$12,367
CHARLES W. SNADER, P.C.1 year Service code 10 · EIN 54-1873714	Accounting	$9,100
MASSACHUSETTS MUTUAL LIFE INS. CO.5+ years Filed as: MASS MUTUAL RETIREMENT SERVICES LLC Service code 15 · EIN 26-1589907	Recordkeeping	$5,043
MASSACHUSETTS MUTUAL LIFE INS. CO.2 years Filed as: MASS MUTUAL RETIREMENT SERVICES,LLC Service code 59	Shareholder Servicing	$0
RAYMOND JAMES FINANCIAL SERVICES1 year Filed as: RAYMOND JAMES FINANCIAL SRVS Service code 26 · EIN 59-1531281	Advisory (Participants)	$0

Plan features & details

Pension benefit codes2F2G2K2L2M2T

Plan features

2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants 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.
2K
Code section 401(m) arrangement
Employee 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.
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.
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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$27K

$131 / participant

Contract admin$8K31.1%
Other / not subdivided$18K68.9%

% of EOY assets

1.211%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: CHARLES W. SNADER, P.C.
Auditor EIN: 541873714
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$10,044

$52,961-81.0%

$172,752-94.2%

$65,185-84.6%

Participation rate

58.9%

66.2%-7.3pp

82.6%-23.7pp

70.2%-11.3pp

Annual return

19.07%

30.12%-11.1pp

802.97%-783.9pp

29.38%-10.3pp

Employer contribution / active EE

$447

$2,190-79.6%

$5,144-91.3%

$2,177-79.5%

Participant deferral / active EE

$1,213

$2,471-50.9%

$5,198-76.7%

$3,514-65.5%

Admin fee / account holder

$122

$472-74.2%

$13,955-99.1%

$847-85.6%

Provider

Service type

Compensation

BKD, LLP5+ years

Filed as: DIXON HUGHES GOODMAN LLP

Service code 10 · EIN 56-0747981

Accounting

$12,367

CHARLES W. SNADER, P.C.1 year

Service code 10 · EIN 54-1873714

Accounting

$9,100

MASSACHUSETTS MUTUAL LIFE INS. CO.5+ years

Filed as: MASS MUTUAL RETIREMENT SERVICES LLC

Service code 15 · EIN 26-1589907

Recordkeeping

$5,043

MASSACHUSETTS MUTUAL LIFE INS. CO.2 years

Filed as: MASS MUTUAL RETIREMENT SERVICES,LLC

Service code 59

Shareholder Servicing

RAYMOND JAMES FINANCIAL SERVICES1 year

Filed as: RAYMOND JAMES FINANCIAL SRVS

Service code 26 · EIN 59-1531281

Advisory (Participants)

HARBOR'S EDGE RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HARBOR'S EDGE RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion