Retirement plan

SEARCH FOR CHANGE, INC. 401K PLAN

Name: SEARCH FOR CHANGE, INC. - SEARCH FOR CHANGE, INC. 401K PLAN (2020) Form 5500
Creator: SEARCH FOR CHANGE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SEARCH FOR CHANGE, INC. 401K PLAN, SEARCH FOR CHANGE, INC.

SEARCH FOR CHANGE, INC.EIN 13-2893548Plan #013PY 2020

115 E STEVENS AVENUE, #203 - VALHALLA, NY 10595914-428-5600searchforchange.orgLinkedIn51-200 employeesmental health care

Other plans on this EIN

1 filing

#012Retirement-$155K assets

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$4.7M

+17.0% from 2019

Total participants

136

-4.9% from 2019

Average account balance

$41,711

+4.4% from 2019

Annual return

15.28%

-8.31 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

$6.31M

Not enough data

1 years with asset history on file

Average account balance

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

$60K

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.

106

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.

67.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$327K

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

+12.14%

Not enough data

1 years with return on file

Admin fee / account holder

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

$436

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 1 by compensation

Provider	Service type	Compensation
JOHN HANCOCK LIFE INSURANCE COMPANY2 years Filed as: JOHN HANCOCK LIFE INS CO OF NY Service code 15 · EIN 13-3646501	Recordkeeping	$972

Plan features & details

Pension benefit codes2E2F2G2J3D

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.
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

1 tripped

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

$35K

$342 / participant

Contract admin$33K95.8%
Other / not subdivided$1K4.2%

% of EOY assets

0.746%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$41,711

$58,895-29.2%

$178,503-76.6%

$73,497-43.2%

Participation rate

76.5%

66.2%+10.2pp

81.9%-5.5pp

70.7%+5.8pp

Annual return

15.28%

24.86%-9.6pp

151.12%-135.8pp

28.51%-13.2pp

Employer contribution / active EE

$1,667

$2,236-25.4%

$5,011-66.7%

$2,270-26.6%

Participant deferral / active EE

$1,537

$2,567-40.1%

$5,202-70.4%

$3,740-58.9%

Admin fee / account holder

$311

$400-22.3%

$13,987-97.8%

$513-39.4%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY2 years

Filed as: JOHN HANCOCK LIFE INS CO OF NY

Service code 15 · EIN 13-3646501

Recordkeeping

$972

SEARCH FOR CHANGE, INC. 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SEARCH FOR CHANGE, 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