Retirement plan

TAPESTRY HEALTH SYSTEMS, INC. RETIREMENT PLAN

Name: TAPESTRY HEALTH SYSTEMS, INC. - TAPESTRY HEALTH SYSTEMS, INC. RETIREMENT PLAN (2021) Form 5500
Creator: TAPESTRY HEALTH SYSTEMS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TAPESTRY HEALTH SYSTEMS, INC. RETIREMENT PLAN, TAPESTRY HEALTH SYSTEMS, INC.

TAPESTRY HEALTH SYSTEMS, INC.EIN 23-7303142Plan #002PY 2021

1985 MAIN STREET, SUITE 202 - SPRINGFIELD, MA 01103413-586-2016

Prospect flagsLow participationLow employer contributionLow participant contribution

How to read this page

Total assets (EOY)

$1.4M

+41.9% from 2020

Total participants

120

+8.1% from 2020

Average account balance

$20,296

+37.7% from 2020

Annual return

30.70%

+28.51 pp from 2020

Benchmarks

See 5,350 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,350 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.74M

Not enough data

1 years with asset history on file

Average account balance

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

$23K

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.

69.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$156K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+10.96%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6510

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

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Service providers

Top 6 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE6+ years Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$5,085
COMMONWEALTH FINANCIAL NETWORK1 year Filed as: COMMONWEALTH EQUITY SERVICES LLC Service code 27 29 SAWYER RD · WALTHAM, MA 024533483	Advisory (Plan)	$4,945
TAPESTRY HEALTH SYSTEMS INC1 year Service code 99 1985 MAIN ST STE 202 · SPRINGFIELD, MA 01103	Other Fees	$1,901
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: ADVISED ASSETS GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$799
MASSACHUSETTS MUTUAL LIFE INS. CO.2 years Filed as: MASSACHUSETTS MUTUAL LIFE INS COMP Service code 55 PO BOX 771115 · CINCINATTI, OH 452771115	Other Commissions	$759
LEAFHOUSE FINANCIAL ADVISORS, LLC2 years Service code 99 6504 BRIDGE POINT PKWY STE 450 · AUSTIN, TX 78730	Other Fees	$231

Plan features & details

Pension benefit codes2E2F2G2J2K2T3B3D

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.
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.
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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$13K

$121 / participant

Investment mgmt$6K44.3%
Contract admin$5K39.2%
Other / not subdivided$2K16.4%

% of EOY assets

0.939%

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: MEYERS BROTHERS KALICKA, P.C.
Auditor EIN: 042713795
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$20,296

$61,172-66.8%

$185,851-89.1%

$79,389-74.4%

Participation rate

51.4%

66.6%-15.2pp

81.7%-30.3pp

70.7%-19.3pp

Annual return

30.70%

19.45%+11.3pp

122.11%-91.4pp

116.89%-86.2pp

Employer contribution / active EE

$230

$2,321-90.1%

$5,168-95.6%

$2,428-90.5%

Participant deferral / active EE

$913

$2,788-67.3%

$5,569-83.6%

$4,046-77.4%

Admin fee / account holder

$191

$710-73.1%

$16,245-98.8%

$626-69.6%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE6+ years

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$5,085

COMMONWEALTH FINANCIAL NETWORK1 year

Filed as: COMMONWEALTH EQUITY SERVICES LLC

Service code 27

29 SAWYER RD · WALTHAM, MA 024533483

Advisory (Plan)

$4,945

TAPESTRY HEALTH SYSTEMS INC1 year

Service code 99

1985 MAIN ST STE 202 · SPRINGFIELD, MA 01103

Other Fees

$1,901

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: ADVISED ASSETS GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$799

MASSACHUSETTS MUTUAL LIFE INS. CO.2 years

Filed as: MASSACHUSETTS MUTUAL LIFE INS COMP

Service code 55

PO BOX 771115 · CINCINATTI, OH 452771115

Other Commissions

$759

LEAFHOUSE FINANCIAL ADVISORS, LLC2 years

Service code 99

6504 BRIDGE POINT PKWY STE 450 · AUSTIN, TX 78730

Other Fees

$231

TAPESTRY HEALTH SYSTEMS, INC. RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TAPESTRY HEALTH SYSTEMS, INC. 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