Retirement plan

UPPER PENINSULA HEALTH EDUCATION CORPORATION 401K PLAN

Name: UPPER PENINSULA HEALTH EDUCATION CORPORATION - UPPER PENINSULA HEALTH EDUCATION CORPORATION 401K PLAN (2023) Form 5500
Creator: UPPER PENINSULA HEALTH EDUCATION CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, UPPER PENINSULA HEALTH EDUCATION CORPORATION 401K PLAN, UPPER PENINSULA HEALTH EDUCATION CORPORATION

UPPER PENINSULA HEALTH EDUCATION CORPORATIONEIN 23-7360416Plan #003PY 2023

850 W. BARAGA AVE. - MARQUETTE, MI 49855906-228-7970LinkedIn11-50 employeesmedical practice

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$4.1M

+21.4% from 2022

Total participants

+8.0% from 2022

Average account balance

$159,500

+16.7% from 2022

Annual return

13.80%

+33.84 pp from 2022

Benchmarks

See 7,477 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants<25

Cohort7,477 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.30M

Not enough data

1 years with asset history on file

Average account balance

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

$225K

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.

140.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$351K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$18K

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

+13.63%

Not enough data

1 years with return on file

Admin fee / account holder

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

$8832

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 codes2E2F2G2J2T3D

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.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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

$28K

$1460 / participant

Other / not subdivided$28K100.0%

% of EOY assets

0.669%

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

$159,500

$69,274+130.2%

$64,097+148.8%

$139,487+14.3%

Participation rate

94.7%

75.6%+19.1pp

72.3%+22.4pp

80.3%+14.4pp

Annual return

13.80%

46.00%-32.2pp

33.75%-19.9pp

373.84%-360.0pp

Employer contribution / active EE

$4,383

$3,187+37.5%

$2,750+59.4%

$4,755-7.8%

Participant deferral / active EE

$9,287

$4,685+98.2%

$3,881+139.3%

$6,713+38.3%

Admin fee / account holder

$1,067

$4,247-74.9%

$3,070-65.3%

$11,407-90.7%

UPPER PENINSULA HEALTH EDUCATION CORPORATION 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

UPPER PENINSULA HEALTH EDUCATION CORPORATION 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