Retirement plan

ATHENA HEALTH CARE ASSOCIATES, INC. 401K PLAN

Name: ATHENA HEALTH CARE ASSOCIATES, INC. - ATHENA HEALTH CARE ASSOCIATES, INC. 401K PLAN (2023) Form 5500
Creator: ATHENA HEALTH CARE ASSOCIATES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ATHENA HEALTH CARE ASSOCIATES, INC. 401K PLAN, ATHENA HEALTH CARE ASSOCIATES, INC.

ATHENA HEALTH CARE ASSOCIATES, INC.EIN 06-1116677Plan #334PY 2023

135 SOUTH ROAD - FARMINGTON, CT 06032860-751-3900LinkedIn10001+ employeeshospital & health care

Prospect flagsLow returnsLow participationLow employer contributionLow participant contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$105.7M

+9.6% from 2022

Total participants

12,293

+4.9% from 2022

Average account balance

$32,458

+9.1% from 2022

Annual return

10.41%

+24.06 pp from 2022

Benchmarks

See 255 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants>=10,000

Cohort255 peers

Snapshot2023

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$110.06M

Not enough data

1 years with asset history on file

Average account balance

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

$48K

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.

2,306

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.

26.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$5.96M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+8.48%

Not enough data

1 years with return on file

Admin fee / account holder

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

$94

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

Top 4 by compensation

Provider	Service type	Compensation
LINCOLN NATIONAL CORPORATION8+ years Service code 13 · EIN 35-0472300 P.O. BOX 7877 · FORT WAYNE, IN 46802	Contract Administrator	$132,949
PLANNED RETIREMENT CONSULTANTS & AD1 year Filed as: PLANNED RETIREMENT CONSULTANTS Service code 10 · EIN 45-4208939 555 GOFFLE ROAD, SUITE 200 · RIDGEWOOD, NJ 07451	Accounting	$44,576
ACG ASSOCIATES, INC.8+ years Service code 10 · EIN 06-1093852 234 MAIN STREET · NEW HARTFORD, CT 06057	Accounting	$8,205
PFK O'CONNOR DAVIES, LLP2 years Service code 10 · EIN 27-1728945 1 CORPORATE DRIVE, STE. 725 · SHELTON, CT 06484	Accounting	$5,000

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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.
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.
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

6 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
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

$186K

$16 / participant

Contract admin$133K71.6%
Other / not subdivided$53K28.4%

% of EOY assets

0.176%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: PFK O'CONNOR DAVIES, LLP
Auditor EIN: 271728945
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$32,458

$68,330-52.5%

$149,673-78.3%

$96,393-66.3%

Participation rate

21.8%

74.6%-52.8pp

78.8%-56.9pp

71.3%-49.4pp

Annual return

10.41%

29.64%-19.2pp

134.42%-124.0pp

22.88%-12.5pp

Employer contribution / active EE

$135

$2,139-93.7%

$4,818-97.2%

$3,238-95.8%

Participant deferral / active EE

$752

$4,422-83.0%

$5,680-86.8%

$5,455-86.2%

Admin fee / account holder

$57

$52+9.7%

$13,210-99.6%

$74-22.8%

Provider

Service type

Compensation

LINCOLN NATIONAL CORPORATION8+ years

Service code 13 · EIN 35-0472300

P.O. BOX 7877 · FORT WAYNE, IN 46802

Contract Administrator

$132,949

PLANNED RETIREMENT CONSULTANTS & AD1 year

Filed as: PLANNED RETIREMENT CONSULTANTS

Service code 10 · EIN 45-4208939

555 GOFFLE ROAD, SUITE 200 · RIDGEWOOD, NJ 07451

Accounting

$44,576

ACG ASSOCIATES, INC.8+ years

Service code 10 · EIN 06-1093852

234 MAIN STREET · NEW HARTFORD, CT 06057

Accounting

$8,205

PFK O'CONNOR DAVIES, LLP2 years

Service code 10 · EIN 27-1728945

1 CORPORATE DRIVE, STE. 725 · SHELTON, CT 06484

Accounting

$5,000

ATHENA HEALTH CARE ASSOCIATES, INC. 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ATHENA HEALTH CARE ASSOCIATES, INC. 401K 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