Retirement plan

CARE MANAGEMENT, INC. 401(K) PLAN

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

CARE MANAGEMENT, INCEIN 11-3117425Plan #001PY 2024

171 KINGS HIGHWAY - BROOKLYN, NY 11223718-256-6000

Prospect flagsHigh feesLow participationLow employer contribution

How to read this page

Total assets (EOY)

$21.8M

+20.9% from 2023

Total participants

838

+24.9% from 2023

Average account balance

$66,805

+14.2% from 2023

Annual return

14.91%

-1.37 pp from 2023

Benchmarks

See 4,117 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort4,117 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$21.78M

Not enough data

1 years with asset history on file

Average account balance

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

$67K

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.

326

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.

27.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.92M

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

+14.91%

Not enough data

1 years with return on file

Admin fee / account holder

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

$358

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
MERRILL LYNCH PIERCE FENNER & SMITH5 years Filed as: MERRILL LYNCH LIFE AGENCY, INC. Service code 16 · EIN 13-2808480	Consulting	$58,813
TRANSAMERICA RETIREMENT SOLUTIONS10+ years Filed as: TRANSAMERICA FINANCIAL LIFE INSURAN Service code 15 · EIN 36-6071399	Recordkeeping	$58,007

Plan features & details

Pension benefit codes2F2G2J2K2T3D3H

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.
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

3 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$117K

$166 / participant

Recordkeeping$58K49.7%
Investment mgmt$59K50.3%

% of EOY assets

0.536%

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: BAKER TILLY US, LLP
Auditor EIN: 301413443
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$66,805

$50,902+31.2%

$155,534-57.0%

$77,736-14.1%

Participation rate

27.3%

63.1%-35.8pp

78.2%-50.9pp

70.6%-43.3pp

Annual return

14.91%

34.85%-19.9pp

64.92%-50.0pp

31.26%-16.3pp

Employer contribution / active EE

$253

$1,991-87.3%

$4,675-94.6%

$2,728-90.7%

Participant deferral / active EE

$2,472

$2,824-12.5%

$5,630-56.1%

$4,651-46.8%

Admin fee / account holder

$358

$437-18.0%

$15,900-97.7%

$433-17.3%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH5 years

Filed as: MERRILL LYNCH LIFE AGENCY, INC.

Service code 16 · EIN 13-2808480

Consulting

$58,813

TRANSAMERICA RETIREMENT SOLUTIONS10+ years

Filed as: TRANSAMERICA FINANCIAL LIFE INSURAN

Service code 15 · EIN 36-6071399

Recordkeeping

$58,007

CARE MANAGEMENT, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CARE MANAGEMENT, INC. 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