Retirement plan

403(B) THRIFT PLAN OF CLIFFORD W. BEERS GUIDANCE CLINIC, INC.

Name: CLIFFORD W. BEERS GUIDANCE CLINIC, INC. - 403(B) THRIFT PLAN OF CLIFFORD W. BEERS GUIDANCE CLINIC, INC. (2023) Form 5500
Creator: CLIFFORD W. BEERS GUIDANCE CLINIC, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 403(B) THRIFT PLAN OF CLIFFORD W. BEERS GUIDANCE CLINIC, INC., CLIFFORD W. BEERS GUIDANCE CLINIC, INC.

CLIFFORD W. BEERS GUIDANCE CLINIC, INC.EIN 06-0646757Plan #002PY 2023

93 EDWARDS ST - NEW HAVEN, CT 065113933203-777-8648

Prospect flagsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$6.9M

+20.0% from 2022

Total participants

351

+62.5% from 2022

Average account balance

$27,117

+1.5% from 2022

Annual return

14.19%

+23.50 pp from 2022

Benchmarks

See 5,703 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,703 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.58M

Not enough data

1 years with asset history on file

Average account balance

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

$34K

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.

195

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.

54.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$665K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+10.75%

Not enough data

1 years with return on file

Admin fee / account holder

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

$12

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 1 by compensation

Provider	Service type	Compensation
MUTUAL OF AMERICA INVESTMENT CORP4 years Service code 12 320 PARK AVENUE · NEW YORK, NY 10022	Participant loan processing; Recordke...	$464

Plan features & details

Pension benefit codes2F2G2T3D

Plan features

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.
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 participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$485

$2 / participant

Other / not subdivided$485100.0%

% of EOY assets

0.007%

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: CLIFTONLARSONALLEN. LLP
Auditor EIN: 410746749
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$27,117

$61,391-55.8%

$149,723-81.9%

$71,529-62.1%

Participation rate

58.5%

62.5%-4.0pp

78.8%-20.3pp

67.9%-9.5pp

Annual return

14.19%

35.88%-21.7pp

134.50%-120.3pp

28.97%-14.8pp

Employer contribution / active EE

$700

$2,384-70.6%

$4,821-85.5%

$2,590-73.0%

Participant deferral / active EE

$1,674

$2,921-42.7%

$5,682-70.5%

$4,291-61.0%

Admin fee / account holder

$1,264-99.8%

$13,215-100.0%

$1,588-99.9%

Provider

Service type

Compensation

MUTUAL OF AMERICA INVESTMENT CORP4 years

Service code 12

320 PARK AVENUE · NEW YORK, NY 10022

Participant loan processing; Recordke...

$464

403(B) THRIFT PLAN OF CLIFFORD W. BEERS GUIDANCE CLINIC, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

403(B) THRIFT PLAN OF CLIFFORD W. BEERS GUIDANCE CLINIC, INC.

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