Retirement plan

LAKE SUPERIOR COMMUNITY HEALTH CENTER 403(B) RETIREMENT PLAN

Name: LAKE SUPERIOR COMMUNITY HEALTH CENTER - LAKE SUPERIOR COMMUNITY HEALTH CENTER 403(B) RETIREMENT PLAN (2021) Form 5500
Creator: LAKE SUPERIOR COMMUNITY HEALTH CENTER
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LAKE SUPERIOR COMMUNITY HEALTH CENTER 403(B) RETIREMENT PLAN, LAKE SUPERIOR COMMUNITY HEALTH CENTER

LAKE SUPERIOR COMMUNITY HEALTH CENTEREIN 23-7167576Plan #001PY 2021

4325 GRAND AVENUE - DULUTH, MN 55807218-722-1497LinkedIn51-200 employeeshospital & health care

Prospect flagsLow participation

How to read this page

Total assets (EOY)

$4.7M

+11.1% from 2020

Total participants

159

-1.2% from 2020

Average account balance

$46,547

+8.9% from 2020

Annual return

16.57%

+3.37 pp from 2020

Benchmarks

See 5,351 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,351 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.38M

Not enough data

1 years with asset history on file

Average account balance

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

$75K

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.

99.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$732K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+15.90%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6555

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

Top 6 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY3 years Filed as: PRINCIPAL SECURITIES INC Service code 49 · EIN 42-0941553	Other Services	$10,802
ASCENSUS LLC1 year Filed as: ASCENSUS Service code 13 · EIN 82-3719843	Contract Administrator	$5,896
PRINCIPAL LIFE INSURANCE COMPANY3 years Service code 13 · EIN 42-0127290	Contract Administrator	$4,311
LINCOLN NATIONAL CORPORATION2 years Service code 13 · EIN 35-1140070	Contract Administrator	$150
WILSHIRE ASSOCIATES INCORPORATED3 years Filed as: WILSHIRE ASSOCIATES INCOPORATED Service code 27 · EIN 95-2755361	Advisory (Plan)	$0
WILSHIRE ASSOCIATES INCORPORATED3 years Service code 27	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2L2F2G2K2T3D

Plan features

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.
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.
2L
Code section 403(b)(1) arrangement
Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
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

1 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.

Expense breakdown

Schedule H Part II

Admin total

$9K

$83 / participant

Contract admin$9K100.0%

% of EOY assets

0.195%

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: WIPFLI LLP
Auditor EIN: 390758449
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$46,547

$61,166-23.9%

$185,849-75.0%

$79,391-41.4%

Participation rate

48.6%

66.6%-18.0pp

81.7%-33.1pp

70.7%-22.1pp

Annual return

16.57%

19.45%-2.9pp

122.10%-105.5pp

116.88%-100.3pp

Employer contribution / active EE

$1,666

$2,321-28.2%

$5,169-67.8%

$2,428-31.4%

Participant deferral / active EE

$3,352

$2,789+20.2%

$5,569-39.8%

$4,046-17.1%

Admin fee / account holder

$91

$710-87.2%

$16,244-99.4%

$627-85.5%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY3 years

Filed as: PRINCIPAL SECURITIES INC

Service code 49 · EIN 42-0941553

Other Services

$10,802

ASCENSUS LLC1 year

Filed as: ASCENSUS

Service code 13 · EIN 82-3719843

Contract Administrator

$5,896

PRINCIPAL LIFE INSURANCE COMPANY3 years

Service code 13 · EIN 42-0127290

Contract Administrator

$4,311

LINCOLN NATIONAL CORPORATION2 years

Service code 13 · EIN 35-1140070

Contract Administrator

$150

WILSHIRE ASSOCIATES INCORPORATED3 years

Filed as: WILSHIRE ASSOCIATES INCOPORATED

Service code 27 · EIN 95-2755361

Advisory (Plan)

WILSHIRE ASSOCIATES INCORPORATED3 years

Service code 27

Advisory (Plan)

LAKE SUPERIOR COMMUNITY HEALTH CENTER 403(B) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LAKE SUPERIOR COMMUNITY HEALTH CENTER 403(B) RETIREMENT 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