Retirement plan

GREAT LAKES CHIROPRACTIC 401K PLAN

Name: GREAT LAKES CHIROPRACTIC - GREAT LAKES CHIROPRACTIC 401K PLAN (2022) Form 5500
Creator: GREAT LAKES CHIROPRACTIC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GREAT LAKES CHIROPRACTIC 401K PLAN, GREAT LAKES CHIROPRACTIC

GREAT LAKES CHIROPRACTICEIN 20-2139405Plan #001PY 2022

601 E. CHICAGO RD. - COLDWATER, MI 49036517-278-7246glchiromi.comLinkedIn11-50 employeeshealth, wellness and fitness

Prospect flagsLow returnsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.5M

-17.9% from 2021

Total participants

-3.1% from 2021

Average account balance

$55,147

-9.1% from 2021

Annual return

-22.41%

-38.82 pp from 2021

Benchmarks

See 105,930 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort105,930 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.00M

Not enough data

1 years with asset history on file

Average account balance

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

$88K

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.

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.

178.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$193K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+17.09%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1249

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

0 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 codes2E2F2G2J2T3D3H

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.
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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
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

$41K

$2543 / participant

Other / not subdivided$41K100.0%

% of EOY assets

2.635%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$55,147

$167,353-67.0%

$143,797-61.6%

$134,545-59.0%

Participation rate

81.3%

84.8%-3.6pp

80.3%+0.9pp

81.2%0pp

Annual return

-22.41%

0.48%-22.9pp

-0.04%-22.4pp

418.37%-440.8pp

Employer contribution / active EE

$1,741

$5,620-69.0%

$4,952-64.9%

$4,742-63.3%

Participant deferral / active EE

$4,714

$6,447-26.9%

$5,638-16.4%

$6,401-26.4%

Admin fee / account holder

$1,453

$18,096-92.0%

$14,679-90.1%

$11,431-87.3%

GREAT LAKES CHIROPRACTIC 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GREAT LAKES CHIROPRACTIC 401K 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