Retirement plan

BERKSHIRE NURSING CENTER, LLC 401(K) RETIREMENT PLAN AND TRUST

Name: BERKSHIRE NURSING CENTER, LLC - BERKSHIRE NURSING CENTER, LLC 401(K) RETIREMENT PLAN AND TRUST (2020) Form 5500
Creator: BERKSHIRE NURSING CENTER, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BERKSHIRE NURSING CENTER, LLC 401(K) RETIREMENT PLAN AND TRUST, BERKSHIRE NURSING CENTER, LLC

BERKSHIRE NURSING CENTER, LLCEIN 06-1609319Plan #001PY 2020

25 BIALYSTOKER PLACE - NEW YORK, NY 10002631-587-0600

Prospect flagsHigh feesLow participationLow employer contributionLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$7.7M

+11.2% from 2019

Total participants

194

+4.3% from 2019

Average account balance

$103,675

+20.2% from 2019

Annual return

26.47%

+0.05 pp from 2019

Benchmarks

See 5,414 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,414 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.94M

Not enough data

1 years with asset history on file

Average account balance

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

$117K

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.

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.

37.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$140K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+21.26%

Not enough data

1 years with return on file

Admin fee / account holder

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

$16233

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

0 years with F_SCH_H allocation on file

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

Service providers

Top 10 of 13 by compensation

Provider	Service type	Compensation
USI CONSULTING GROUP6+ years Filed as: USI SECURITIES INC Service code 53 · EIN 06-1493970	Insurance Commissions	$18,989
CARON & BLETZER, PLLC1 year Service code 10 · EIN 04-3499945	Accounting	$16,700
MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years Service code 52 · EIN 04-1590850	Indirect Investment Fees	$15,865
AMERICAN FUNDS4 years Service code 52 · EIN 95-2817150	Indirect Investment Fees	$0
COLUMBIA4 years Service code 52 · EIN 56-0906609	Indirect Investment Fees	$0
FRANKLIN TEMPLETON4 years Filed as: FRANKLINTEMPLETON Service code 52 · EIN 13-2573775	Indirect Investment Fees	$0
INVESCO2 years Service code 52 · EIN 93-6305075	Indirect Investment Fees	$0
IVY FUNDS4 years Service code 52 · EIN 04-6006759	Indirect Investment Fees	$0
JOHN HANCOCK LIFE INSURANCE COMPANY4 years Filed as: JOHN HANCOCK Service code 52 · EIN 04-3279774	Indirect Investment Fees	$0
MORGAN STANLEY SMITH BARNEY4 years Filed as: JP MORGAN Service code 52 · EIN 26-3613641	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2J2F2G2K3B3D2T

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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

5 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.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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

$33K

$193 / participant

Investment mgmt$15K44.9%
Contract admin$1K3.8%
Other / not subdivided$17K51.3%

% of EOY assets

0.424%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CARON & BLETZER, PLLC
Auditor EIN: 043499945
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$103,675

$58,895+76.0%

$178,503-41.9%

$73,497+41.1%

Participation rate

29.0%

66.2%-37.2pp

81.9%-52.9pp

70.7%-41.7pp

Annual return

26.47%

24.86%+1.6pp

151.12%-124.6pp

28.51%-2.0pp

Employer contribution / active EE

$266

$2,236-88.1%

$5,011-94.7%

$2,270-88.3%

Participant deferral / active EE

$593

$2,567-76.9%

$5,202-88.6%

$3,740-84.1%

Admin fee / account holder

$440

$400+9.9%

$13,987-96.9%

$513-14.2%

Provider

Service type

Compensation

USI CONSULTING GROUP6+ years

Filed as: USI SECURITIES INC

Service code 53 · EIN 06-1493970

Insurance Commissions

$18,989

CARON & BLETZER, PLLC1 year

Service code 10 · EIN 04-3499945

Accounting

$16,700

MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$15,865

AMERICAN FUNDS4 years

Service code 52 · EIN 95-2817150

Indirect Investment Fees

COLUMBIA4 years

Service code 52 · EIN 56-0906609

Indirect Investment Fees

FRANKLIN TEMPLETON4 years

Filed as: FRANKLINTEMPLETON

Service code 52 · EIN 13-2573775

Indirect Investment Fees

INVESCO2 years

Service code 52 · EIN 93-6305075

Indirect Investment Fees

IVY FUNDS4 years

Service code 52 · EIN 04-6006759

Indirect Investment Fees

JOHN HANCOCK LIFE INSURANCE COMPANY4 years

Filed as: JOHN HANCOCK

Service code 52 · EIN 04-3279774

Indirect Investment Fees

MORGAN STANLEY SMITH BARNEY4 years

Filed as: JP MORGAN

Service code 52 · EIN 26-3613641

Indirect Investment Fees

BERKSHIRE NURSING CENTER, LLC 401(K) RETIREMENT PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BERKSHIRE NURSING CENTER, LLC 401(K) RETIREMENT PLAN AND TRUST

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