Retirement plan

BROOKS-TLC HOSPITAL SYSTEM, INC. 401(K) RETIREMENT PLAN

Name: BROOKS-TLC HOSPITAL SYSTEM, INC. - BROOKS-TLC HOSPITAL SYSTEM, INC. 401(K) RETIREMENT PLAN (2023) Form 5500
Creator: BROOKS-TLC HOSPITAL SYSTEM, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BROOKS-TLC HOSPITAL SYSTEM, INC. 401(K) RETIREMENT PLAN, BROOKS-TLC HOSPITAL SYSTEM, INC.

BROOKS-TLC HOSPITAL SYSTEM, INC.EIN 16-0743301Plan #001PY 2023

529 CENTRAL AVENUE - DUNKIRK, NY 14048716-363-7263brookshospital.orgLinkedIn201-500 employeeshospital & health care

Other plans on this EIN

3 filings

#002Retirement-$16.2M assets #003Retirement-$2.9M assets #004Retirement-$53K assets

Prospect flagsHigh cashLow assets / participantLow employer contributionFailed to transmit contributionsWind-down / frozen

Top hat statement on fileNQDC

Filed November 26, 2002

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

Open the filing PDF

How to read this page

Total assets (EOY)

$4M

-13.1% from 2022

Total participants

340

-9.3% from 2022

Average account balance

$11,906

-7.4% from 2022

Annual return

13.02%

+30.61 pp from 2022

Benchmarks

See 107,959 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort107,959 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.18M

Not enough data

1 years with asset history on file

Average account balance

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

$20K

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.

211

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.

93.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$19K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+11.25%

Not enough data

1 years with return on file

Admin fee / account holder

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

$354

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
COMMONWEALTH FINANCIAL NETWORK1 year Filed as: COMMONWEALTH EQUITY SERVICES LLC DB Service code 27 29 SAWYER RD · WALTHAM, MA 024533483	Advisory (Plan)	$30,153
AMERICAN FUNDS3+ years Filed as: CAPITAL GROUP RETIREMENT PLAN SVCS. Service code 25 · EIN 82-4555287	Directed Trustee	$28,270
LUMSDEN & MCCORMICK LLP1 year Filed as: LUMSDEN & MCCORMICK, LLP Service code 10 369 FRANKLIN ST · BUFFALO, NY 14202	Accounting	$5,800

Plan features & details

Pension benefit codes2E2F2G2J2K2T3B3D

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.
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.

Opportunity flags

5 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh cash
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
InformationalWind-down / frozen
Plan appears closed to new enrollment or frozen - balance-holders far exceed active participants, or the plan reports active distributions with no inflows. Exclude from peer benchmarks.

Expense breakdown

Schedule H Part II

Admin total

$64K

$6422 / participant

Recordkeeping$28K44.0%
Investment mgmt$30K47.0%
Other / not subdivided$6K9.0%

% of EOY assets

1.601%

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: LUMSDEN & MCCORMICK, LLP
Auditor EIN: 160765486
Audit fees: $5,800
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$11,906

$175,259-93.2%

$149,723-92.0%

$139,487-91.5%

Participation rate

70.0%

83.4%-13.4pp

78.8%-8.8pp

80.3%-10.3pp

Annual return

13.02%

166.82%-153.8pp

134.50%-121.5pp

373.84%-360.8pp

Employer contribution / active EE

$5,478-100.0%

$4,821-100.0%

$4,755-100.0%

Participant deferral / active EE

$2,279

$6,522-65.0%

$5,682-59.9%

$6,713-66.0%

Admin fee / account holder

$191

$16,158-98.8%

$13,215-98.6%

$11,407-98.3%

Provider

Service type

Compensation

COMMONWEALTH FINANCIAL NETWORK1 year

Filed as: COMMONWEALTH EQUITY SERVICES LLC DB

Service code 27

29 SAWYER RD · WALTHAM, MA 024533483

Advisory (Plan)

$30,153

AMERICAN FUNDS3+ years

Filed as: CAPITAL GROUP RETIREMENT PLAN SVCS.

Service code 25 · EIN 82-4555287

Directed Trustee

$28,270

LUMSDEN & MCCORMICK LLP1 year

Filed as: LUMSDEN & MCCORMICK, LLP

Service code 10

369 FRANKLIN ST · BUFFALO, NY 14202

Accounting

$5,800

BROOKS-TLC HOSPITAL SYSTEM, INC. 401(K) RETIREMENT PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BROOKS-TLC HOSPITAL SYSTEM, INC. 401(K) RETIREMENT PLAN

Top hat statement on fileNQDC

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