Retirement plan

SECTION 403(B) RETIREMENT PLAN FOR FARNHAM, INC.

Name: FARNHAM, INC. - SECTION 403(B) RETIREMENT PLAN FOR FARNHAM, INC. (2023) Form 5500
Creator: FARNHAM, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SECTION 403(B) RETIREMENT PLAN FOR FARNHAM, INC., FARNHAM, INC.

FARNHAM, INC.EIN 16-0990872Plan #002PY 2023

283 WEST SECOND STREET, SUITE 200 - OSWEGO, NY 13126315-342-4489LinkedIn1-10 employeeshospital & health care

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$4.6M

+28.9% from 2022

Total participants

184

+19.5% from 2022

Average account balance

$28,681

+23.3% from 2022

Annual return

16.23%

+31.38 pp from 2022

Benchmarks

See 5,703 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,703 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.62M

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.

151

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.

80.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$494K

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

+10.18%

Not enough data

1 years with return on file

Admin fee / account holder

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

$315

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

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

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

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$39K

$301 / participant

Contract admin$39K100.0%

% of EOY assets

0.840%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BONADIO & CO., LLP
Auditor EIN: 161131146
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$28,681

$61,391-53.3%

$149,723-80.8%

$71,529-59.9%

Participation rate

81.3%

62.5%+18.7pp

78.8%+2.5pp

67.9%+13.3pp

Annual return

16.23%

35.88%-19.6pp

134.50%-118.3pp

28.97%-12.7pp

Employer contribution / active EE

$2,039

$2,384-14.5%

$4,821-57.7%

$2,590-21.3%

Participant deferral / active EE

$2,024

$2,921-30.7%

$5,682-64.4%

$4,291-52.8%

Admin fee / account holder

$241

$1,264-81.0%

$13,215-98.2%

$1,588-84.8%

SECTION 403(B) RETIREMENT PLAN FOR FARNHAM, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SECTION 403(B) RETIREMENT PLAN FOR FARNHAM, INC.

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