Retirement plan

LYNN COMMUNITY HEALTH CENTER RETIREMENT PLAN

Name: LYNN COMMUNITY HEALTH INC - LYNN COMMUNITY HEALTH CENTER RETIREMENT PLAN (2024) Form 5500
Creator: LYNN COMMUNITY HEALTH INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LYNN COMMUNITY HEALTH CENTER RETIREMENT PLAN, LYNN COMMUNITY HEALTH INC

LYNN COMMUNITY HEALTH INCEIN 04-2525066Plan #001PY 2024

269 UNION ST - LYNN, MA 019011314781-596-2502LinkedIn1001-5000 employeesmedical practice

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$11.8M

+64.1% from 2023

Total participants

802

+9.7% from 2023

Average account balance

$17,608

+43.2% from 2023

Annual return

18.86%

-35.60 pp from 2023

Benchmarks

See 4,117 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort4,117 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.76M

Not enough data

1 years with asset history on file

Average account balance

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

$18K

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.

668

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.

82.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.75M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+18.86%

Not enough data

1 years with return on file

Admin fee / account holder

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

$96

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
SENTINEL PENSION ADVISORS2 years Filed as: SENTINEL BENEFITS GROUP, LLC Service code 15 · EIN 20-5916766	Recordkeeping	$39,607
SENTINEL PENSION ADVISORS3+ years Service code 27 · EIN 04-3422848	Advisory (Plan)	$20,960

Plan features & details

Pension benefit codes2M2E2G2K2S2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

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

$64K

$84 / participant

Recordkeeping$40K61.7%
Trustee / custodial$2K3.0%
Investment mgmt$21K32.6%
Other / not subdivided$2K2.7%

% of EOY assets

0.546%

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: AAFCPA'S INC.
Auditor EIN: 042571780
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$17,608

$50,902-65.4%

$155,534-88.7%

$77,736-77.3%

Participation rate

82.5%

63.1%+19.4pp

78.2%+4.2pp

70.6%+11.9pp

Annual return

18.86%

34.85%-16.0pp

64.92%-46.1pp

31.26%-12.4pp

Employer contribution / active EE

$1,040

$1,991-47.8%

$4,675-77.7%

$2,728-61.9%

Participant deferral / active EE

$3,862

$2,824+36.7%

$5,630-31.4%

$4,651-17.0%

Admin fee / account holder

$96

$437-78.0%

$15,900-99.4%

$433-77.8%

Provider

Service type

Compensation

SENTINEL PENSION ADVISORS2 years

Filed as: SENTINEL BENEFITS GROUP, LLC

Service code 15 · EIN 20-5916766

Recordkeeping

$39,607

SENTINEL PENSION ADVISORS3+ years

Service code 27 · EIN 04-3422848

Advisory (Plan)

$20,960

LYNN COMMUNITY HEALTH CENTER RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LYNN COMMUNITY HEALTH CENTER 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