Retirement plan

SYNERGY HOMECARE METRO NJ 401(K) PLAN

Name: HOME CARE OF NEW JERSEY, LLC - SYNERGY HOMECARE METRO NJ 401(K) PLAN (2023) Form 5500
Creator: HOME CARE OF NEW JERSEY, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SYNERGY HOMECARE METRO NJ 401(K) PLAN, HOME CARE OF NEW JERSEY, LLC

HOME CARE OF NEW JERSEY, LLCEIN 27-0446405Plan #001PY 2023

181 NEW ROAD, SUITE 313 - PARSIPPANY, NJ 070545625949-235-8387LinkedIn1-10 employeesmedical practice

Prospect flagsLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$313K

+370.4% from 2022

Total participants

+20.0% from 2022

Average account balance

$13,629

+247.7% from 2022

Annual return

21.29%

+21.29 pp from 2022

Benchmarks

See 9,816 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort9,816 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$752K

Not enough data

1 years with asset history on file

Average account balance

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

$11K

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.

74.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$259K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+15.03%

Not enough data

1 years with return on file

Admin fee / account holder

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

$693

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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$6K

$98 / participant

Other / not subdivided$6K100.0%

% of EOY assets

2.071%

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

$13,629

$57,312-76.2%

$86,617-84.3%

$75,181-81.9%

Participation rate

34.8%

63.2%-28.3pp

71.7%-36.9pp

67.2%-32.3pp

Annual return

21.29%

2672.78%-2651.5pp

591.91%-570.6pp

160.69%-139.4pp

Employer contribution / active EE

$2,354

$2,315+1.7%

$3,023-22.1%

$2,671-11.8%

Participant deferral / active EE

$1,227

$3,319-63.0%

$4,437-72.4%

$4,126-70.3%

Admin fee / account holder

$282

$4,114-93.1%

$5,613-95.0%

$5,650-95.0%

SYNERGY HOMECARE METRO NJ 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SYNERGY HOMECARE METRO NJ 401(K) 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