Retirement plan

BESTSELF BEHAVIORAL HEALTH 401(K) PLAN

Name: BESTSELF BEHAVIORAL HEALTH, INC. - BESTSELF BEHAVIORAL HEALTH 401(K) PLAN (2023) Form 5500
Creator: BESTSELF BEHAVIORAL HEALTH, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BESTSELF BEHAVIORAL HEALTH 401(K) PLAN, BESTSELF BEHAVIORAL HEALTH, INC.

BESTSELF BEHAVIORAL HEALTH, INC.EIN 16-1004090Plan #002PY 2023

255 DELAWARE AVENUE, SUITE 300 - BUFFALO, NY 14202716-819-3420bestselfwny.orgLinkedIn1001-5000 employeesmental health care

Prospect flagsFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$28M

+19.5% from 2022

Total participants

1,473

-0.9% from 2022

Average account balance

$23,482

+19.9% from 2022

Annual return

18.57%

+33.80 pp from 2022

Benchmarks

See 1,406 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants1,000-4,999

Cohort1,406 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$32.40M

Not enough data

1 years with asset history on file

Average account balance

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

$25K

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.

1,299

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.

83.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.05M

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

+14.44%

Not enough data

1 years with return on file

Admin fee / account holder

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

$126

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 5 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY7 years Service code 13 · EIN 42-0127290	Contract Administrator	$78,229
ACTUARIAL BENEFITS CORP7 years Filed as: ACTUARIAL CONSULTING SERVICES, INC. Service code 13 · EIN 16-1186135 30 BRYANT WOODS NORTH · AMHERST, NY 14228	Contract Administrator	$33,710
LAWLEY RETIREMENT ADVISORS LLC2 years Filed as: LAWLEY-COURIER ADVISORS, LLC Service code 27 · EIN 27-4034238	Advisory (Plan)	$29,976
MORNINGSTAR2 years Filed as: MORNINGSTAR INVESTMENT COMPANY Service code 26	Advisory (Participants)	$0
MORNINGSTAR2 years Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L Service code 26 · EIN 36-4317381	Advisory (Participants)	$0

Plan features & details

Pension benefit codes2A2E2F2G2J2S2T3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$130K

$109 / participant

Investment mgmt$30K23.2%
Contract admin$100K76.8%

% of EOY assets

0.464%

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: DOPKINS & COMPANY, LLP
Auditor EIN: 160929175
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$23,482

$50,150-53.2%

$149,723-84.3%

$80,169-70.7%

Participation rate

76.5%

64.3%+12.2pp

78.8%-2.3pp

72.9%+3.6pp

Annual return

18.57%

29.80%-11.2pp

134.50%-115.9pp

40.39%-21.8pp

Employer contribution / active EE

$1,081

$1,868-42.1%

$4,821-77.6%

$2,978-63.7%

Participant deferral / active EE

$2,412

$3,195-24.5%

$5,682-57.6%

$5,016-51.9%

Admin fee / account holder

$109

$153-28.7%

$13,215-99.2%

$145-24.9%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY7 years

Service code 13 · EIN 42-0127290

Contract Administrator

$78,229

ACTUARIAL BENEFITS CORP7 years

Filed as: ACTUARIAL CONSULTING SERVICES, INC.

Service code 13 · EIN 16-1186135

30 BRYANT WOODS NORTH · AMHERST, NY 14228

Contract Administrator

$33,710

LAWLEY RETIREMENT ADVISORS LLC2 years

Filed as: LAWLEY-COURIER ADVISORS, LLC

Service code 27 · EIN 27-4034238

Advisory (Plan)

$29,976

MORNINGSTAR2 years

Filed as: MORNINGSTAR INVESTMENT COMPANY

Service code 26

Advisory (Participants)

MORNINGSTAR2 years

Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L

Service code 26 · EIN 36-4317381

Advisory (Participants)

BESTSELF BEHAVIORAL HEALTH 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BESTSELF BEHAVIORAL HEALTH 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