Retirement plan

ELEMENT CARE, INC. 403(B) PLAN

Name: ELEMENT CARE, INC. - ELEMENT CARE, INC. 403(B) PLAN (2023) Form 5500
Creator: ELEMENT CARE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ELEMENT CARE, INC. 403(B) PLAN, ELEMENT CARE, INC.

ELEMENT CARE, INC.EIN 04-3267751Plan #001PY 2023

235 WOODLAND NORTH AVE - LYNN, MA 01904781-715-6608

Prospect flagsLow returnsFailed to transmit contributions

How to read this page

Total assets (EOY)

$17.7M

+18.9% from 2022

Total participants

407

+3.3% from 2022

Average account balance

$57,393

+15.8% from 2022

Annual return

12.31%

+28.14 pp from 2022

Benchmarks

See 4,036 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort4,036 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$24.74M

Not enough data

1 years with asset history on file

Average account balance

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

$74K

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.

335

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.

71.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.44M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+14.22%

Not enough data

1 years with return on file

Admin fee / account holder

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

$240

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 3 by compensation

Provider	Service type	Compensation
SENTINEL PENSION ADVISORS6 years Service code 27 · EIN 04-3422848	Advisory (Plan)	$29,674
SENTINEL PENSION ADVISORS6 years Filed as: SENTINEL BENEFITS GROUP, LLC Service code 15 · EIN 20-5916766	Recordkeeping	$26,392
CHARLES SCHWAB & CO., INC.2 years Filed as: CHARLES SCHWAB TRUST BANK Service code 19 · EIN 82-3967259	Securities Custodian	$5,797

Plan features & details

Pension benefit codes2M2K2F2G2T2E3D

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.
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.
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

2 tripped

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

$62K

$184 / participant

Investment mgmt$30K48.0%
Other / not subdivided$32K52.0%

% of EOY assets

0.350%

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: BAKER TILLY US, LLP
Auditor EIN: 390859910
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$57,393

$47,180+21.6%

$149,723-61.7%

$74,473-22.9%

Participation rate

70.6%

63.4%+7.2pp

78.8%-8.2pp

70.7%-0.1pp

Annual return

12.31%

22.75%-10.4pp

134.50%-122.2pp

34.36%-22.0pp

Employer contribution / active EE

$1,742

$1,907-8.6%

$4,821-63.9%

$2,638-34.0%

Participant deferral / active EE

$4,969

$2,730+82.0%

$5,682-12.6%

$4,530+9.7%

Admin fee / account holder

$201

$343-41.5%

$13,215-98.5%

$347-42.1%

Provider

Service type

Compensation

SENTINEL PENSION ADVISORS6 years

Service code 27 · EIN 04-3422848

Advisory (Plan)

$29,674

SENTINEL PENSION ADVISORS6 years

Filed as: SENTINEL BENEFITS GROUP, LLC

Service code 15 · EIN 20-5916766

Recordkeeping

$26,392

CHARLES SCHWAB & CO., INC.2 years

Filed as: CHARLES SCHWAB TRUST BANK

Service code 19 · EIN 82-3967259

Securities Custodian

$5,797

ELEMENT CARE, INC. 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ELEMENT CARE, INC. 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