Retirement plan

GEM HEALTHCARE 401(K) PLAN

Name: GEM HEALTHCARE EMPLOYMENT AGENCY - GEM HEALTHCARE 401(K) PLAN (2022) Form 5500
Creator: GEM HEALTHCARE EMPLOYMENT AGENCY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GEM HEALTHCARE 401(K) PLAN, GEM HEALTHCARE EMPLOYMENT AGENCY

GEM HEALTHCARE EMPLOYMENT AGENCYEIN 11-2990506Plan #001PY 2022

147 W MERRICK ROAD - FREEPORT, NY 115203784516-255-5400

Prospect flagsLow assets / participantFailed to transmit contributions

How to read this page

Total assets (EOY)

$702K

-12.5% from 2021

Total participants

126

-26.7% from 2021

Average account balance

$6,271

+32.8% from 2021

Annual return

-17.44%

-28.49 pp from 2021

Benchmarks

See 5,345 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,345 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.09M

Not enough data

1 years with asset history on file

Average account balance

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

$9K

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.

117

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.

96.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$190K

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

+9.03%

Not enough data

1 years with return on file

Admin fee / account holder

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

$113

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 2 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY5+ years Service code 13 · EIN 42-0127290	Contract Administrator	$14,020
WILSHIRE ASSOCIATES INCORPORATED1 year Filed as: WILSHIRE ADVISORS LLC Service code 27 · EIN 95-2755361	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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.
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 assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match 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

$14K

$127 / participant

Contract admin$14K100.0%

% of EOY assets

1.996%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BAS PARTNERS
Auditor EIN: 208779390
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$6,271

$65,125-90.4%

$143,797-95.6%

$66,949-90.6%

Participation rate

87.3%

65.2%+22.1pp

80.3%+7.0pp

69.8%+17.5pp

Annual return

-17.44%

-11.13%-6.3pp

-0.04%-17.4pp

1.57%-19.0pp

Employer contribution / active EE

$2,362-100.0%

$4,952-100.0%

$2,545-100.0%

Participant deferral / active EE

$2,234

$2,920-23.5%

$5,638-60.4%

$4,239-47.3%

Admin fee / account holder

$125

$503-75.1%

$14,679-99.1%

$594-78.9%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY5+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$14,020

WILSHIRE ASSOCIATES INCORPORATED1 year

Filed as: WILSHIRE ADVISORS LLC

Service code 27 · EIN 95-2755361

Advisory (Plan)

GEM HEALTHCARE 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GEM HEALTHCARE 401(K) 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