Retirement plan

LONG ISLAND CARE CENTER 401(K) SAVINGS AND RETIREMENT PLAN

Name: LONG ISLAND CARE CENTER, INC. - LONG ISLAND CARE CENTER 401(K) SAVINGS AND RETIREMENT PLAN (2024) Form 5500
Creator: LONG ISLAND CARE CENTER, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LONG ISLAND CARE CENTER 401(K) SAVINGS AND RETIREMENT PLAN, LONG ISLAND CARE CENTER, INC.

LONG ISLAND CARE CENTER, INC.EIN 11-3096628Plan #001PY 2024

144-61 38TH AVENUE - FLUSHING, NY 11354718-939-7500licare.comLinkedIn51-200 employeeshospital & health care

Prospect flagsLow returnsFailed to transmit contributions

How to read this page

Total assets (EOY)

$4.6M

+6.7% from 2023

Total participants

168

-16.4% from 2023

Average account balance

$30,006

+21.3% from 2023

Annual return

8.60%

-1.24 pp from 2023

Benchmarks

See 5,998 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,998 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.62M

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.

154

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.

90.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$344K

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

+8.60%

Not enough data

1 years with return on file

Admin fee / account holder

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

$197

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
FIDELITY INVESTMENTS INSTITUTIONAL4 years Service code 37 · EIN 04-2647786	Loan Processing	$15,326
STONE HILL FIDUCIARY MANAGEMENT LL3 years Service code 27 · EIN 45-5608425	Advisory (Plan)	$9,999

Plan features & details

Pension benefit codes2J2T3B2E2F3D2G

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.
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

2 tripped

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).

Expense breakdown

Schedule H Part II

Admin total

$30K

$198 / participant

Recordkeeping$15K50.6%
Investment mgmt$10K33.0%
Other / not subdivided$5K16.4%

% of EOY assets

0.656%

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: $4,970
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$30,006

$55,437-45.9%

$155,534-80.7%

$74,459-59.7%

Participation rate

90.8%

61.9%+29.0pp

78.2%+12.6pp

67.2%+23.6pp

Annual return

8.60%

269.58%-261.0pp

64.92%-56.3pp

1369.70%-1361.1pp

Employer contribution / active EE

$763

$2,266-66.3%

$4,675-83.7%

$2,626-70.9%

Participant deferral / active EE

$1,487

$2,837-47.6%

$5,630-73.6%

$4,350-65.8%

Admin fee / account holder

$197

$1,742-88.7%

$15,900-98.8%

$1,945-89.9%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL4 years

Service code 37 · EIN 04-2647786

Loan Processing

$15,326

STONE HILL FIDUCIARY MANAGEMENT LL3 years

Service code 27 · EIN 45-5608425

Advisory (Plan)

$9,999

LONG ISLAND CARE CENTER 401(K) SAVINGS AND RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LONG ISLAND CARE CENTER 401(K) SAVINGS AND RETIREMENT 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