Retirement plan

HARBOR'S EDGE RETIREMENT PLAN

Name: FORT NORFOLK RETIREMENT COMMUNITY, INC. - HARBOR'S EDGE RETIREMENT PLAN (2020) 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 2020

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

Prospect flagsLow participationLow assets / participant

How to read this page

Total assets (EOY)

$2.5M

+16.1% from 2019

Total participants

285

-5.3% from 2019

Average account balance

$13,891

+38.3% from 2019

Annual return

21.94%

+2.87 pp from 2019

Benchmarks

See 5,415 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,415 peers

Snapshot2020

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 4 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years Filed as: MASS MUTUAL RETIREMENT SERVICES LLC Service code 15 · EIN 26-1589907	Recordkeeping	$5,233
PBMARES, LLP1 year Service code 10 · EIN 54-0737372	Accounting	$4,462
MASSACHUSETTS MUTUAL LIFE INS. CO.3 years Filed as: MASS MUTUAL RETIREMENT SERVICES,LLC Service code 15	Recordkeeping	$0
RAYMOND JAMES FINANCIAL SERVICES2 years 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

2 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.

Expense breakdown

Schedule H Part II

Admin total

$14K

$70 / participant

Contract admin$5K36.1%
Other / not subdivided$9K63.9%

% of EOY assets

0.570%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$13,891

$58,888-76.4%

$178,499-92.2%

$73,493-81.1%

Participation rate

50.7%

66.2%-15.5pp

81.9%-31.2pp

70.7%-20.0pp

Annual return

21.94%

24.86%-2.9pp

151.10%-129.2pp

28.51%-6.6pp

Employer contribution / active EE

$475

$2,236-78.8%

$5,011-90.5%

$2,270-79.1%

Participant deferral / active EE

$1,354

$2,568-47.3%

$5,202-74.0%

$3,740-63.8%

Admin fee / account holder

$79

$400-80.2%

$13,986-99.4%

$513-84.6%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years

Filed as: MASS MUTUAL RETIREMENT SERVICES LLC

Service code 15 · EIN 26-1589907

Recordkeeping

$5,233

PBMARES, LLP1 year

Service code 10 · EIN 54-0737372

Accounting

$4,462

MASSACHUSETTS MUTUAL LIFE INS. CO.3 years

Filed as: MASS MUTUAL RETIREMENT SERVICES,LLC

Service code 15

Recordkeeping

RAYMOND JAMES FINANCIAL SERVICES2 years

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