Retirement plan

FAMILY SERVICES, INC. 403(B) PLAN

Name: FAMILY SERVICES, INC. - FAMILY SERVICES, INC. 403(B) PLAN (2020) Form 5500
Creator: FAMILY SERVICES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FAMILY SERVICES, INC. 403(B) PLAN, FAMILY SERVICES, INC.

FAMILY SERVICES, INC.EIN 14-1338399Plan #002PY 2020

29 NORTH HAMILTON STREET - POUGHKEEPSIE, NY 12601845-452-1110familyservicesny.orgLinkedIn51-200 employeesnon-profit organization management

Prospect flagsLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$5.2M

+13.5% from 2019

Total participants

252

-2.7% from 2019

Average account balance

$35,156

+18.1% from 2019

Annual return

12.49%

-99.88 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

$7.64M

Not enough data

1 years with asset history on file

Average account balance

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

$31K

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.

249

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.

94.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$957K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+11.48%

Not enough data

1 years with return on file

Admin fee / account holder

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

$276

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

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Service providers

Top 2 by compensation

Provider	Service type	Compensation
BENEFIT PLANS ADMIN SERVICES, INC.1 year Filed as: BENEFIT PLAN ADMIN SERVICES LLC Service code 13 · EIN 16-1503696 3501 MASONS MILL RD · HUNTINGDON VALLEY, PA 19006	Contract Administrator	$23,283
MARSHALL & STERLING WEALTH ADVISORS1 year Service code 26 110 MAIN STREET · POUGHKEEPSIE, NY 12601	Advisory (Participants)	$18,934

Plan features & details

Pension benefit codes2L2K2F2G

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.
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.
2L
Code section 403(b)(1) arrangement
Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$42K

$195 / participant

Investment mgmt$24K57.7%
Contract admin$15K35.8%
Other / not subdivided$3K6.5%

% of EOY assets

0.817%

all-in expense ratio

Categories reported

2 / 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

$35,156

$58,888-40.3%

$178,499-80.3%

$73,493-52.2%

Participation rate

51.4%

66.2%-14.8pp

81.9%-30.5pp

70.7%-19.3pp

Annual return

12.49%

24.86%-12.4pp

151.10%-138.6pp

28.51%-16.0pp

Employer contribution / active EE

$1,493

$2,236-33.2%

$5,011-70.2%

$2,270-34.2%

Participant deferral / active EE

$1,542

$2,568-39.9%

$5,202-70.4%

$3,740-58.8%

Admin fee / account holder

$287

$400-28.3%

$13,986-97.9%

$513-44.0%

Provider

Service type

Compensation

BENEFIT PLANS ADMIN SERVICES, INC.1 year

Filed as: BENEFIT PLAN ADMIN SERVICES LLC

Service code 13 · EIN 16-1503696

3501 MASONS MILL RD · HUNTINGDON VALLEY, PA 19006

Contract Administrator

$23,283

MARSHALL & STERLING WEALTH ADVISORS1 year

Service code 26

110 MAIN STREET · POUGHKEEPSIE, NY 12601

Advisory (Participants)

$18,934

FAMILY SERVICES, INC. 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FAMILY SERVICES, INC. 403(B) 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