Retirement plan

THE VETERANS MULTI-SERVICE CENTER, INC. 401(K) PROFIT SHARING PLAN

Name: THE VETERANS MULTI-SERVICE CENTER, INC. - THE VETERANS MULTI-SERVICE CENTER, INC. 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: THE VETERANS MULTI-SERVICE CENTER, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE VETERANS MULTI-SERVICE CENTER, INC. 401(K) PROFIT SHARING PLAN, THE VETERANS MULTI-SERVICE CENTER, INC.

THE VETERANS MULTI-SERVICE CENTER, INC.EIN 23-2764079Plan #001PY 2023

213-217 N. 4TH STREET - PHILADELPHIA, PA 19106215-923-2600vmcenter.orgLinkedIn51-200 employeesindividual & family services

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$1.8M

+24.3% from 2022

Total participants

120

+3.4% from 2022

Average account balance

$15,314

+20.2% from 2022

Annual return

14.74%

+31.57 pp from 2022

Benchmarks

See 20,801 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort20,801 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.12M

Not enough data

1 years with asset history on file

Average account balance

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

$19K

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.

113

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.

98.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$298K

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

+11.94%

Not enough data

1 years with return on file

Admin fee / account holder

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

$108

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 2 by compensation

Provider	Service type	Compensation
LINCOLN NATIONAL CORPORATION6 years Service code 13 · EIN 35-1140070	Contract Administrator	$14,061
ASSOCIATED BENEFIT PLANNERS, LTD.1 year Filed as: ASSOCIATED BENEFIT PLANNERS LTD Service code 15 · EIN 23-2250214 215 WEST CHURCH ROAD, SUITE 200 · KING OF PRUSSIA, PA 19406	Recordkeeping	$2,150

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

$16K

$211 / participant

Contract admin$16K100.0%

% of EOY assets

0.882%

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: MARCUM, LLP
Auditor EIN: 111986323
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$15,314

$77,908-80.3%

$149,696-89.8%

$75,173-79.6%

Participation rate

100.0%

65.6%+34.4pp

78.8%+21.2pp

67.2%+32.8pp

Annual return

14.74%

31.73%-17.0pp

134.46%-119.7pp

160.72%-146.0pp

Employer contribution / active EE

$2,274

$3,138-27.5%

$4,821-52.8%

$2,671-14.9%

Participant deferral / active EE

$1,144

$3,411-66.5%

$5,682-79.9%

$4,126-72.3%

Admin fee / account holder

$135

$5,950-97.7%

$13,212-99.0%

$5,651-97.6%

Provider

Service type

Compensation

LINCOLN NATIONAL CORPORATION6 years

Service code 13 · EIN 35-1140070

Contract Administrator

$14,061

ASSOCIATED BENEFIT PLANNERS, LTD.1 year

Filed as: ASSOCIATED BENEFIT PLANNERS LTD

Service code 15 · EIN 23-2250214

215 WEST CHURCH ROAD, SUITE 200 · KING OF PRUSSIA, PA 19406

Recordkeeping

$2,150

THE VETERANS MULTI-SERVICE CENTER, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE VETERANS MULTI-SERVICE CENTER, INC. 401(K) PROFIT SHARING 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