Retirement plan

MENTAL HEALTH CONNECTICUT, INC. RETIREMENT PLAN

Name: MENTAL HEALTH CONNECTICUT, INC. - MENTAL HEALTH CONNECTICUT, INC. RETIREMENT PLAN (2016) Form 5500
Creator: MENTAL HEALTH CONNECTICUT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MENTAL HEALTH CONNECTICUT, INC. RETIREMENT PLAN, MENTAL HEALTH CONNECTICUT, INC.

MENTAL HEALTH CONNECTICUT, INC.EIN 06-0646593Plan #001PY 2016

61 S MAIN ST STE 100 - WEST HARTFORD, CT 06107860-529-1970mhconn.orgLinkedIn201-500 employeesmental health care

Prospect flagsLow participationLow fidelity bond

Top hat statement on fileNQDC

Filed July 29, 2024

Plan administrator

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76 Batterson Park Road, Suite 303

Farmington, CT 06032

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Plans declared (1)

Plan name not on file1 emp

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Total assets (EOY)

$3.2M

+14.1% from 2015

Total participants

357

+8.5% from 2015

Average account balance

$27,409

+2.2% from 2015

Annual return

8.04%

+9.70 pp from 2015

Benchmarks

See 3,733 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort3,733 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.14M

Not enough data

1 years with asset history on file

Average account balance

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

$30K

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.

240

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.

98.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.06M

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

+11.79%

Not enough data

1 years with return on file

Admin fee / account holder

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

$69

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

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2A2F2G2M

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$1K

$4 / participant

Contract admin$1K100.0%

% of EOY assets

0.038%

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: WHITTLESEY
Auditor EIN: 060903326
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$27,409

$36,916-25.8%

$156,551-82.5%

$57,658-52.5%

Participation rate

24.6%

63.4%-38.8pp

84.0%-59.4pp

70.2%-45.6pp

Annual return

8.04%

12.38%-4.3pp

32.23%-24.2pp

5.13%+2.9pp

Employer contribution / active EE

$236

$1,571-85.0%

$5,501-95.7%

$1,974-88.0%

Participant deferral / active EE

$760

$1,926-60.5%

$4,871-84.4%

$3,061-75.2%

Admin fee / account holder

$11

$82-87.3%

$13,028-99.9%

$95-88.9%

MENTAL HEALTH CONNECTICUT, 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

MENTAL HEALTH CONNECTICUT, 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