Retirement plan

FAMILY HEALTH CENTER OF WORCESTER, INC. RETIREMENT PLAN

Name: FAMILY HEALTH CENTER OF WORCESTER, INC. - FAMILY HEALTH CENTER OF WORCESTER, INC. RETIREMENT PLAN (2017) Form 5500
Creator: FAMILY HEALTH CENTER OF WORCESTER, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FAMILY HEALTH CENTER OF WORCESTER, INC. RETIREMENT PLAN, FAMILY HEALTH CENTER OF WORCESTER, INC.

FAMILY HEALTH CENTER OF WORCESTER, INC.EIN 04-2485308Plan #001PY 2017

26 QUEEN STREET - WORCESTER, MA 016102473508-860-7975fhcw.orgLinkedIn201-500 employeeshospital & health care

Prospect flagsLow returns

Top hat statement on fileNQDC

Filed June 20, 2023

Plan administrator

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26 Queen Street

Worcester, MA 01610

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Plans declared (1)

Family Health Center of Worcester 457b plan3 emp

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Total assets (EOY)

$12M

+6.9% from 2016

Total participants

532

-8.4% from 2016

Average account balance

$24,765

+19.3% from 2016

Annual return

11.51%

+4.46 pp from 2016

Benchmarks

See 3,813 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort3,813 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.60M

Not enough data

1 years with asset history on file

Average account balance

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

$22K

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.

252

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.

1.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

Not enough data

0 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+11.72%

Not enough data

1 years with return on file

Admin fee / account holder

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

$134

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 2 by compensation

Provider	Service type	Compensation
ALEXANDER ARONSON FINNING & CO PC3+ years Service code 10 21 EAST MAIN ST · WESTBOROUGH, MA 01581	Accounting	$9,037
JOHN HANCOCK LIFE INSURANCE COMPANY2 years Service code 15 · EIN 01-0233346	Recordkeeping	$1,468

Plan features & details

Pension benefit codes2E2F2G2J2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
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.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

1 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$84K

$212 / participant

Contract admin$75K89.2%
Other / not subdivided$9K10.8%

% of EOY assets

0.703%

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: ALEXANDER, ARONOSN, FINNING & CO
Auditor EIN: 042571780
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$24,765

$46,173-46.4%

$170,435-85.5%

$69,631-64.4%

Participation rate

87.6%

63.9%+23.7pp

83.6%+4.0pp

70.7%+16.9pp

Annual return

11.51%

21.62%-10.1pp

205.94%-194.4pp

27571.02%-27559.5pp

Employer contribution / active EE

$1,241

$1,610-22.9%

$5,432-77.2%

$2,032-38.9%

Participant deferral / active EE

$1,893

$2,080-9.0%

$4,939-61.7%

$3,224-41.3%

Admin fee / account holder

$174

$116+50.1%

$13,881-98.7%

$110+57.6%

Provider

Service type

Compensation

ALEXANDER ARONSON FINNING & CO PC3+ years

Service code 10

21 EAST MAIN ST · WESTBOROUGH, MA 01581

Accounting

$9,037

JOHN HANCOCK LIFE INSURANCE COMPANY2 years

Service code 15 · EIN 01-0233346

Recordkeeping

$1,468

FAMILY HEALTH CENTER OF WORCESTER, INC. RETIREMENT PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FAMILY HEALTH CENTER OF WORCESTER, INC. RETIREMENT PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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