Retirement plan

ADVOCATES, INC. 401(K) PLAN

Name: ADVOCATES, INC. - ADVOCATES, INC. 401(K) PLAN (2020) Form 5500
Creator: ADVOCATES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ADVOCATES, INC. 401(K) PLAN, ADVOCATES, INC.

ADVOCATES, INC.EIN 23-7451423Plan #001PY 2020

1881 WORCESTER RD, SUITE 103 - FRAMINGHAM, MA 01701508-628-6300advocates.orgLinkedIn1001-5000 employeesnon-profit organization management

Other plans on this EIN

1 filing

#002Retirement-$1.7M assets

Prospect flagsLow returnsLow participationCorrective distributions

Top hat statement on fileNQDC

Filed September 28, 2011 (most recent of 2 filings on file)

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$24.1M

+11.1% from 2019

Total participants

2,017

+8.2% from 2019

Average account balance

$36,162

+10.4% from 2019

Annual return

6.67%

-0.02 pp from 2019

Benchmarks

See 1,342 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants1,000-4,999

Cohort1,342 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$51.08M

Not enough data

1 years with asset history on file

Average account balance

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

$46K

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.

1,121

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.

35.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.24M

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

+19.62%

Not enough data

1 years with return on file

Admin fee / account holder

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

$16

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

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Service providers

Top 10 of 13 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.5+ years Service code 49 · EIN 04-1590850	Other Services	$39,790
GALLAGHER FIDUCIARY ADVISORS, LLC3 years Filed as: GALLAGHER BENEFIT SERVICES INC. Service code 22 · EIN 36-4291971	Insurance Broker	$17,191
AMERICAN FUNDS3 years Service code 52 · EIN 95-1411037	Indirect Investment Fees	$0
BLACKROCK3 years Service code 52 · EIN 22-3483675	Indirect Investment Fees	$0
COLUMBIA3 years Service code 52 · EIN 56-0906609	Indirect Investment Fees	$0
FIDELITY INVESTMENTS INSTITUTIONAL3 years Filed as: FIDELITY INVESTMENTS Service code 52 · EIN 04-6056833	Indirect Investment Fees	$0
HARRIS3 years Service code 52 · EIN 52-2257782	Indirect Investment Fees	$0
INVESCO3 years Service code 52 · EIN 93-6305075	Indirect Investment Fees	$0
MFS INVESTMENT MANAGEMENT3 years Service code 52 · EIN 04-3158862	Indirect Investment Fees	$0
NORTHERN FUNDS3 years Service code 52 · EIN 36-3608252	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2J2F2G2K3D2T

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.
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 returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$40K

$21 / participant

Investment mgmt$25K63.0%
Contract admin$15K37.0%

% of EOY assets

0.165%

all-in expense ratio

Categories reported

2 / 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: MAYER HOFFMAN MCCANN
Auditor EIN: 431947695
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$36,162

$56,095-35.5%

$178,499-79.7%

$90,274-59.9%

Participation rate

29.9%

65.6%-35.6pp

81.9%-52.0pp

73.4%-43.4pp

Annual return

6.67%

28.81%-22.1pp

151.10%-144.4pp

53.97%-47.3pp

Employer contribution / active EE

$439

$1,572-72.1%

$5,011-91.2%

$2,523-82.6%

Participant deferral / active EE

$1,052

$2,669-60.6%

$5,202-79.8%

$4,231-75.1%

Admin fee / account holder

$60

$101-40.7%

$13,986-99.6%

$114-47.7%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.5+ years

Service code 49 · EIN 04-1590850

Other Services

$39,790

GALLAGHER FIDUCIARY ADVISORS, LLC3 years

Filed as: GALLAGHER BENEFIT SERVICES INC.

Service code 22 · EIN 36-4291971

Insurance Broker

$17,191

AMERICAN FUNDS3 years

Service code 52 · EIN 95-1411037

Indirect Investment Fees

BLACKROCK3 years

Service code 52 · EIN 22-3483675

Indirect Investment Fees

COLUMBIA3 years

Service code 52 · EIN 56-0906609

Indirect Investment Fees

FIDELITY INVESTMENTS INSTITUTIONAL3 years

Filed as: FIDELITY INVESTMENTS

Service code 52 · EIN 04-6056833

Indirect Investment Fees

HARRIS3 years

Service code 52 · EIN 52-2257782

Indirect Investment Fees

INVESCO3 years

Service code 52 · EIN 93-6305075

Indirect Investment Fees

MFS INVESTMENT MANAGEMENT3 years

Service code 52 · EIN 04-3158862

Indirect Investment Fees

NORTHERN FUNDS3 years

Service code 52 · EIN 36-3608252

Indirect Investment Fees

ADVOCATES, INC. 401(K) PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ADVOCATES, INC. 401(K) PLAN

Top hat statement on fileNQDC

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