Retirement plan

401(K) PLAN FOR DFH COMPANIES

Name: EMBRACE HOME LOANS, INC. - 401(K) PLAN FOR DFH COMPANIES (2022) Form 5500
Creator: EMBRACE HOME LOANS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 401(K) PLAN FOR DFH COMPANIES, EMBRACE HOME LOANS, INC.

EMBRACE HOME LOANS, INC.EIN 05-0402708Plan #002PY 2022

25 ENTERPRISE CENTER - MIDDLETOWN, RI 02842401-846-3100embracehomeloans.comLinkedIn201-500 employeesfinancial services

Prospect flagsLow returnsFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$70M

-20.6% from 2021

Total participants

1,065

+2.2% from 2021

Average account balance

$67,814

-22.9% from 2021

Annual return

-18.79%

-35.21 pp from 2021

Benchmarks

See 1,529 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,529 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$82.71M

Not enough data

1 years with asset history on file

Average account balance

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

$121K

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.

682

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.

92.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.57M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+14.49%

Not enough data

1 years with return on file

Admin fee / account holder

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

$52

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 4 by compensation

Provider	Service type	Compensation
VOYA RETIREMENT INSURANCE & ANNUITY8+ years Service code 26 · EIN 71-0294708	Advisory (Participants)	$42,236
GALLAGHER FIDUCIARY ADVISORS, LLC1 year Filed as: GALLAGHER BENEFIT SERVICES INC Service code 99 · EIN 36-4291971	Other Fees	$37,500
MORNINGSTAR3 years Filed as: MORNINGSTAR INVESTMENT MANAGEMENT Service code 26 · EIN 36-4317381	Advisory (Participants)	$14,187
KESTRA INVESTMENT SERVICES LLC5 years Filed as: KESTRA ADVISORY SERVICES Service code 99 · EIN 47-1566880	Other Fees	$12,500

Plan features & details

Pension benefit codes2E2J2F2G2K3D3H

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.
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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 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).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$42K

$66 / participant

Other / not subdivided$42K100.0%

% of EOY assets

0.060%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: RICHEY MAY & CO., LLP
Auditor EIN: 710911208
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$67,814

$86,897-22.0%

$151,645-55.3%

$64,824+4.6%

Participation rate

94.8%

87.3%+7.6pp

87.5%+7.3pp

71.5%+23.3pp

Annual return

-18.79%

-3.57%-15.2pp

3.34%-22.1pp

32.84%-51.6pp

Employer contribution / active EE

$4,195

$4,010+4.6%

$6,165-32.0%

$2,507+67.3%

Participant deferral / active EE

$9,628

$6,690+43.9%

$8,363+15.1%

$4,311+123.3%

Admin fee / account holder

$41

$153-73.2%

$11,614-99.6%

$188-78.2%

Provider

Service type

Compensation

VOYA RETIREMENT INSURANCE & ANNUITY8+ years

Service code 26 · EIN 71-0294708

Advisory (Participants)

$42,236

GALLAGHER FIDUCIARY ADVISORS, LLC1 year

Filed as: GALLAGHER BENEFIT SERVICES INC

Service code 99 · EIN 36-4291971

Other Fees

$37,500

MORNINGSTAR3 years

Filed as: MORNINGSTAR INVESTMENT MANAGEMENT

Service code 26 · EIN 36-4317381

Advisory (Participants)

$14,187

KESTRA INVESTMENT SERVICES LLC5 years

Filed as: KESTRA ADVISORY SERVICES

Service code 99 · EIN 47-1566880

Other Fees

$12,500

401(K) PLAN FOR DFH COMPANIES

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

401(K) PLAN FOR DFH COMPANIES

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