Retirement plan

UPPER GREAT LAKES FAMILY HEALTH CENTER RETIREMENT PLAN

Name: UPPER GREAT LAKES FAMILY HEATH CENTER - UPPER GREAT LAKES FAMILY HEALTH CENTER RETIREMENT PLAN (2024) Form 5500
Creator: UPPER GREAT LAKES FAMILY HEATH CENTER
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, UPPER GREAT LAKES FAMILY HEALTH CENTER RETIREMENT PLAN, UPPER GREAT LAKES FAMILY HEATH CENTER

UPPER GREAT LAKES FAMILY HEATH CENTEREIN 26-4299275Plan #001PY 2024

506 CAMPUS DRIVE - HANCOCK, MI 49930906-483-1838uglhealth.orgLinkedIn51-200 employeesmedical practice

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$8.5M

+29.9% from 2023

Total participants

226

-4.2% from 2023

Average account balance

$42,953

+29.3% from 2023

Annual return

21.38%

+5.48 pp from 2023

Benchmarks

See 6,010 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort6,010 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.55M

Not enough data

1 years with asset history on file

Average account balance

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

$43K

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.

199

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.

86.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.02M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+21.38%

Not enough data

1 years with return on file

Admin fee / account holder

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

$49

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 1 by compensation

Provider	Service type	Compensation
ALERUS FINANCIAL, N.A.8 years Service code 15 · EIN 45-6062081	Recordkeeping	$9,684

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

1 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$10K

$49 / participant

Recordkeeping$4K41.3%
Contract admin$6K58.7%

% of EOY assets

0.113%

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: ANDREWS HOOPER PAVLIK PLC
Auditor EIN: 383133790
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$42,953

$55,423-22.5%

$155,602-72.4%

$74,400-42.3%

Participation rate

86.4%

61.9%+24.5pp

78.2%+8.2pp

67.2%+19.2pp

Annual return

21.38%

269.07%-247.7pp

64.81%-43.4pp

1367.51%-1346.1pp

Employer contribution / active EE

$1,871

$2,266-17.4%

$4,675-60.0%

$2,624-28.7%

Participant deferral / active EE

$3,275

$2,835+15.5%

$5,629-41.8%

$4,348-24.7%

Admin fee / account holder

$49

$1,744-97.2%

$15,923-99.7%

$1,944-97.5%

Provider

Service type

Compensation

ALERUS FINANCIAL, N.A.8 years

Service code 15 · EIN 45-6062081

Recordkeeping

$9,684

UPPER GREAT LAKES FAMILY HEALTH CENTER RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

UPPER GREAT LAKES FAMILY HEALTH CENTER 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