Retirement plan

MAYO HEALTHCARE RETIREMENT SAVINGS 403(B) PLAN

Name: MAYO HEALTHCARE, INC. - MAYO HEALTHCARE RETIREMENT SAVINGS 403(B) PLAN (2018) Form 5500
Creator: MAYO HEALTHCARE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MAYO HEALTHCARE RETIREMENT SAVINGS 403(B) PLAN, MAYO HEALTHCARE, INC.

MAYO HEALTHCARE, INC.EIN 03-0140186Plan #001PY 2018

71 RICHARDSON STREET - NORTHFIELD, VT 05663802-485-3161mayohc.orgLinkedIn51-200 employeeshospital & health care

Prospect flagsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$2.2M

-11.7% from 2017

Total participants

171

-0.6% from 2017

Average account balance

$16,368

-12.4% from 2017

Annual return

-6.48%

-18.24 pp from 2017

Benchmarks

See 5,259 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,259 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.09M

Not enough data

1 years with asset history on file

Average account balance

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

$28K

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.

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.

36.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$164K

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

+9.50%

Not enough data

1 years with return on file

Admin fee / account holder

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

$343

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

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

Service providers

Top 2 by compensation

Provider	Service type	Compensation
PENSION WORKS, INC.3 years Service code 17 · EIN 03-0359635 382 HERCULES DRIVE · COLCHESTER, VT 05446	Pension Consulting	$6,220
MATRIX TRUST COMPANY1 year Service code 50 · EIN 75-3182674 717 17TH STREET · DENVER, CO 80202	Direct Payment	$5,192

Plan features & details

Pension benefit codes2F2G2K2M2T

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.
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.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$15K

$131 / participant

Investment mgmt$5K34.5%
Contract admin$4K24.1%
Other / not subdivided$6K41.4%

% of EOY assets

0.691%

all-in expense ratio

Categories reported

2 / 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: KITTELL, BRANAGAN & SARGENT, CPA
Auditor EIN: 030302296
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$16,368

$47,977-65.9%

$154,108-89.4%

$56,289-70.9%

Participation rate

67.0%

66.2%+0.8pp

83.0%-16.1pp

69.9%-2.9pp

Annual return

-6.48%

3.54%-10.0pp

735.21%-741.7pp

-9.96%+3.5pp

Employer contribution / active EE

$512

$2,169-76.4%

$5,298-90.3%

$2,111-75.7%

Participant deferral / active EE

$1,033

$2,392-56.8%

$5,081-79.7%

$3,350-69.2%

Admin fee / account holder

$113

$438-74.2%

$13,411-99.2%

$521-78.3%

Provider

Service type

Compensation

PENSION WORKS, INC.3 years

Service code 17 · EIN 03-0359635

382 HERCULES DRIVE · COLCHESTER, VT 05446

Pension Consulting

$6,220

MATRIX TRUST COMPANY1 year

Service code 50 · EIN 75-3182674

717 17TH STREET · DENVER, CO 80202

Direct Payment

$5,192

MAYO HEALTHCARE RETIREMENT SAVINGS 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MAYO HEALTHCARE RETIREMENT SAVINGS 403(B) 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