Retirement plan

LIFE'S WORC 403(B) PROFIT SHARING PLAN

Name: LIFE'S WORC - LIFE'S WORC 403(B) PROFIT SHARING PLAN (2024) Form 5500
Creator: LIFE'S WORC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LIFE'S WORC 403(B) PROFIT SHARING PLAN, LIFE'S WORC

LIFE'S WORCEIN 23-7209731Plan #001PY 2024

1501 FRANKLIN AVENUE, POST OFFICE BOX 8165 - GARDEN CITY, NY 11530516-741-9000lifesworc.orgLinkedIn1001-5000 employeesindividual & family services

Prospect flagsLow assets / participant

How to read this page

Total assets (EOY)

$19.3M

+3.7% from 2023

Total participants

1,466

-12.9% from 2023

Average account balance

$13,607

+3.7% from 2023

Annual return

13.10%

+2.67 pp from 2023

Benchmarks

See 1,433 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants1,000-4,999

Cohort1,433 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$20.04M

Not enough data

1 years with asset history on file

Average account balance

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

$21K

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.

948

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.

94.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.16M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+10.81%

Not enough data

1 years with return on file

Admin fee / account holder

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

$173

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 3 by compensation

Provider	Service type	Compensation
WEALTH MANAGEMENT SYSTEMS INC2 years Filed as: WEALTH ENHANCEMENT GROUP Service code 27 724 LONG ISLAND AVENUE · DEER PARK, NY 11729	Advisory (Plan)	$87,707
ASCENSUS LLC9+ years Filed as: ASCENSUS, INC. Service code 15 · EIN 11-3665754	Recordkeeping	$47,317
MILLENNIUM INVESTMENT & RETIREMENT7 years Filed as: MILLENIUM INVESTMENT & RETIREMENT Service code 31 13850 BALLANTYNE CORPORATE PLACE · CHARLOTTE, NC 28277	Named fiduciary	$1,750

Plan features & details

Pension benefit codes2E2F2G2J2L3D

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.
2L
Code section 403(b)(1) arrangement
Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
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 assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$144K

$142 / participant

Contract admin$144K100.0%

% of EOY assets

0.749%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: BDO USA, P.C.
Auditor EIN: 135381590
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$13,607

$53,254-74.4%

$155,574-91.3%

$199,921-93.2%

Participation rate

95.0%

64.1%+30.8pp

78.2%+16.8pp

72.0%+23.0pp

Annual return

13.10%

41.18%-28.1pp

64.87%-51.8pp

34.28%-21.2pp

Employer contribution / active EE

$316

$1,848-82.9%

$4,676-93.2%

$3,035-89.6%

Participant deferral / active EE

$895

$3,165-71.7%

$5,629-84.1%

$5,089-82.4%

Admin fee / account holder

$102

$186-45.1%

$15,914-99.4%

$269-62.1%

Provider

Service type

Compensation

WEALTH MANAGEMENT SYSTEMS INC2 years

Filed as: WEALTH ENHANCEMENT GROUP

Service code 27

724 LONG ISLAND AVENUE · DEER PARK, NY 11729

Advisory (Plan)

$87,707

ASCENSUS LLC9+ years

Filed as: ASCENSUS, INC.

Service code 15 · EIN 11-3665754

Recordkeeping

$47,317

MILLENNIUM INVESTMENT & RETIREMENT7 years

Filed as: MILLENIUM INVESTMENT & RETIREMENT

Service code 31

13850 BALLANTYNE CORPORATE PLACE · CHARLOTTE, NC 28277

Named fiduciary

$1,750

LIFE'S WORC 403(B) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LIFE'S WORC 403(B) 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