Retirement plan

CLOVE LAKES HEALTH CARE AND REHABILITATION CENTER 401(K) PLAN

Name: CLOVE LAKES HEALTH CARE AND REHABILITATION CENTER - CLOVE LAKES HEALTH CARE AND REHABILITATION CENTER 401(K) PLAN (2020) Form 5500
Creator: CLOVE LAKES HEALTH CARE AND REHABILITATION CENTER
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CLOVE LAKES HEALTH CARE AND REHABILITATION CENTER 401(K) PLAN, CLOVE LAKES HEALTH CARE AND REHABILITATION CENTER

CLOVE LAKES HEALTH CARE AND REHABILITATION CENTEREIN 13-3954527Plan #002PY 2020

25 FANNING ST - STATEN ISLAND, NY 103145307718-289-7817clovelakes.comLinkedIn201-500 employeeshospital & health care

Prospect flagsLow participationCorrective distributions

How to read this page

Total assets (EOY)

$13.6M

+4.8% from 2019

Total participants

222

-31.7% from 2019

Average account balance

$84,237

+49.8% from 2019

Annual return

11.70%

-2.38 pp from 2019

Benchmarks

See 5,415 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,415 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.07M

Not enough data

1 years with asset history on file

Average account balance

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

$74K

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.

109

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.

20.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$428K

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

+12.14%

Not enough data

1 years with return on file

Admin fee / account holder

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

$479

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 10 of 15 by compensation

Provider	Service type	Compensation
RAYMOND JAMES FINANCIAL SERVICES1 year Filed as: RAYMOND JAMES INSURANCE GROUP Service code 53	Insurance Commissions	$18,478
MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years Filed as: MASS MUTUAL LIFE INSURANCE COMPANY Service code 52 · EIN 04-1590850	Indirect Investment Fees	$9,988
RED BANK PENSION SERVICES, INC.1 year Filed as: RED BANK PENSION SERVICES INC Service code 13	Contract Administrator	$3,800
RED BANK PENSION SERVICES, INC.1 year Filed as: RED BANK PENSION SERVICES INC. Service code 13	Contract Administrator	$3,759
WELLS FARGO BANK, N.A.3 years Filed as: WELLS FARGO ADVISORS INC AGENCY LLC Service code 53	Insurance Commissions	$896
AMERICAN FUNDS4 years Service code 52 · EIN 52-0792143	Indirect Investment Fees	$0
FRANKLIN TEMPLETON4 years Service code 52 · EIN 59-2745039	Indirect Investment Fees	$0
INVESCO4 years Service code 52 · EIN 93-1036175	Indirect Investment Fees	$0
MORGAN STANLEY SMITH BARNEY4 years Filed as: JP MORGAN Service code 52 · EIN 26-3613641	Indirect Investment Fees	$0
MFS INVESTMENT MANAGEMENT4 years Service code 52 · EIN 04-3158862	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.
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 participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$10K

$62 / participant

Contract admin$10K100.0%

% of EOY assets

0.074%

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: GERALD J. WOOD, CPA, PLLC.
Auditor EIN: 261454694
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$84,237

$58,888+43.0%

$178,499-52.8%

$73,493+14.6%

Participation rate

61.9%

66.2%-4.4pp

81.9%-20.1pp

70.7%-8.8pp

Annual return

11.70%

24.86%-13.2pp

151.10%-139.4pp

28.51%-16.8pp

Employer contribution / active EE

$2,236-100.0%

$5,011-100.0%

$2,270-100.0%

Participant deferral / active EE

$2,674

$2,568+4.1%

$5,202-48.6%

$3,740-28.5%

Admin fee / account holder

$62

$400-84.5%

$13,986-99.6%

$513-87.9%

Provider

Service type

Compensation

RAYMOND JAMES FINANCIAL SERVICES1 year

Filed as: RAYMOND JAMES INSURANCE GROUP

Service code 53

Insurance Commissions

$18,478

MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years

Filed as: MASS MUTUAL LIFE INSURANCE COMPANY

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$9,988

RED BANK PENSION SERVICES, INC.1 year

Filed as: RED BANK PENSION SERVICES INC

Service code 13

Contract Administrator

$3,800

RED BANK PENSION SERVICES, INC.1 year

Filed as: RED BANK PENSION SERVICES INC.

Service code 13

Contract Administrator

$3,759

WELLS FARGO BANK, N.A.3 years

Filed as: WELLS FARGO ADVISORS INC AGENCY LLC

Service code 53

Insurance Commissions

$896

AMERICAN FUNDS4 years

Service code 52 · EIN 52-0792143

Indirect Investment Fees

FRANKLIN TEMPLETON4 years

Service code 52 · EIN 59-2745039

Indirect Investment Fees

INVESCO4 years

Service code 52 · EIN 93-1036175

Indirect Investment Fees

MORGAN STANLEY SMITH BARNEY4 years

Filed as: JP MORGAN

Service code 52 · EIN 26-3613641

Indirect Investment Fees

MFS INVESTMENT MANAGEMENT4 years

Service code 52 · EIN 04-3158862

Indirect Investment Fees

CLOVE LAKES HEALTH CARE AND REHABILITATION CENTER 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CLOVE LAKES HEALTH CARE AND REHABILITATION CENTER 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