Retirement plan

ERNEST HEALTH INC. 401(K) RETIREMENT PLAN

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

ERNEST HEALTH, INC.EIN 14-1839795Plan #001PY 2020

4600 LENA DRIVE - MECHANICSBURG, PA 17055717-591-5700ernesthealth.comLinkedIn1001-5000 employeeshospital & health care

Prospect flagsLow participationFailed to provide benefitCorrective distributions

How to read this page

Total assets (EOY)

$74.4M

+11.8% from 2019

Total participants

4,507

+2.6% from 2019

Average account balance

$37,535

+8.2% from 2019

Annual return

13.35%

-9.38 pp from 2019

Benchmarks

See 1,342 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants1,000-4,999

Cohort1,342 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$123.32M

Not enough data

1 years with asset history on file

Average account balance

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

$32K

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.

3,842

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.

54.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$17.65M

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

+15.52%

Not enough data

1 years with return on file

Admin fee / account holder

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

$77

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 3 by compensation

Provider	Service type	Compensation
LOCKTON INVESTMENT ADVISORS, LLC2 years Filed as: LOCKTON FINANCIAL ADVISORS, LLC Service code 16 · EIN 20-3247391	Consulting	$61,723
FIDELITY INVESTMENTS INSTITUTIONAL6+ years Service code 37 · EIN 04-2647786	Loan Processing	$19,427
MOSS ADAMS LLP1 year Filed as: MOSS ADAMS Service code 10 · EIN 91-0189318	Accounting	$15,405

Plan features & details

Pension benefit codes2F2G2J2K2T3B3H3D

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.
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.
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.
ComplianceFailed to provide benefit
Form 5500 reported that benefits due were not provided when due.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$97K

$24 / participant

Other / not subdivided$97K100.0%

% of EOY assets

0.130%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MOSS ADAMS LLP
Auditor EIN: 910189318
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$37,535

$56,095-33.1%

$178,499-79.0%

$90,274-58.4%

Participation rate

36.3%

65.6%-29.3pp

81.9%-45.6pp

73.4%-37.1pp

Annual return

13.35%

28.81%-15.5pp

151.10%-137.8pp

53.97%-40.6pp

Employer contribution / active EE

$215

$1,572-86.3%

$5,011-95.7%

$2,523-91.5%

Participant deferral / active EE

$1,805

$2,669-32.4%

$5,202-65.3%

$4,231-57.3%

Admin fee / account holder

$49

$101-51.6%

$13,986-99.7%

$114-57.3%

Provider

Service type

Compensation

LOCKTON INVESTMENT ADVISORS, LLC2 years

Filed as: LOCKTON FINANCIAL ADVISORS, LLC

Service code 16 · EIN 20-3247391

Consulting

$61,723

FIDELITY INVESTMENTS INSTITUTIONAL6+ years

Service code 37 · EIN 04-2647786

Loan Processing

$19,427

MOSS ADAMS LLP1 year

Filed as: MOSS ADAMS

Service code 10 · EIN 91-0189318

Accounting

$15,405

ERNEST HEALTH INC. 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ERNEST HEALTH INC. 401(K) 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