Retirement plan

FIRST SOURCE EMPLOYEE MANAGEMENT RETIREMENT PLAN

Name: FIRST SOURCE EMPLOYEE MANAGEME - FIRST SOURCE EMPLOYEE MANAGEMENT RETIREMENT PLAN (2019) Form 5500
Creator: FIRST SOURCE EMPLOYEE MANAGEME
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST SOURCE EMPLOYEE MANAGEMENT RETIREMENT PLAN, FIRST SOURCE EMPLOYEE MANAGEME

FIRST SOURCE EMPLOYEE MANAGEMEEIN 27-2037178Plan #001PY 2019

25000 COUNTRY CLUB BLVD., SUITE 255 - NORTH OLMSTED, OH 44070440-793-0200LinkedIn5001-10000 employeeshospital & health care

Prospect flagsLow returnsLow participationLow assets / participantCorrective distributions

How to read this page

Total assets (EOY)

$49.7M

+10.8% from 2018

Total participants

7,827

+30.0% from 2018

Average account balance

$17,106

+22.6% from 2018

Annual return

19.01%

+23.05 pp from 2018

Benchmarks

See 235 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants5,000-9,999

Cohort235 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$67.64M

Not enough data

1 years with asset history on file

Average account balance

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

$29K

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.

2,323

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.

23.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$7.10M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$919

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

+7.53%

Not enough data

1 years with return on file

Admin fee / account holder

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

$58

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 10 of 14 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.5+ years Service code 49 · EIN 04-1590850	Other Services	$254,549
RAYMOND JAMES FINANCIAL SERVICES3 years Filed as: RAYMOND JAMES FIN SVCS, INC. Service code 27 · EIN 59-1531281	Advisory (Plan)	$65,000
AMERICAN CENTURY3 years Service code 52 · EIN 43-0821857	Indirect Investment Fees	$0
AMERICAN FUNDS3 years Service code 52 · EIN 95-6006886	Indirect Investment Fees	$0
THE BANK OF NEW YORK MELLON1 year Filed as: BNY MELLON Service code 52 · EIN 13-4024319	Indirect Investment Fees	$0
COLUMBIA3 years Service code 52 · EIN 94-1687665	Indirect Investment Fees	$0
DODGE & COX3 years Service code 52 · EIN 94-6067274	Indirect Investment Fees	$0
FRANKLIN TEMPLETON3 years Filed as: FRANKLINTEMPLETON Service code 52 · EIN 59-6865210	Indirect Investment Fees	$0
INVESCO1 year Service code 52 · EIN 93-6305075	Indirect Investment Fees	$0
MORGAN STANLEY SMITH BARNEY3 years Filed as: JP MORGAN Service code 52 · EIN 33-1043149	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2J2F2G2K3D3H2T

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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

4 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.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$320K

$43 / participant

Investment mgmt$233K73.0%
Contract admin$86K27.0%
Other / not subdivided$750.0%

% of EOY assets

0.644%

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: CORRIGAN KRAUSE
Auditor EIN: 371574855
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$17,106

$53,565-68.1%

$172,755-90.1%

$82,204-79.2%

Participation rate

33.1%

69.6%-36.6pp

82.6%-49.6pp

73.4%-40.3pp

Annual return

19.01%

31.42%-12.4pp

802.94%-783.9pp

26.31%-7.3pp

Employer contribution / active EE

$169

$1,857-90.9%

$5,144-96.7%

$2,707-93.8%

Participant deferral / active EE

$735

$3,006-75.5%

$5,198-85.9%

$4,246-82.7%

Admin fee / account holder

$110

$61+79.3%

$13,955-99.2%

$76+45.6%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.5+ years

Service code 49 · EIN 04-1590850

Other Services

$254,549

RAYMOND JAMES FINANCIAL SERVICES3 years

Filed as: RAYMOND JAMES FIN SVCS, INC.

Service code 27 · EIN 59-1531281

Advisory (Plan)

$65,000

AMERICAN CENTURY3 years

Service code 52 · EIN 43-0821857

Indirect Investment Fees

AMERICAN FUNDS3 years

Service code 52 · EIN 95-6006886

Indirect Investment Fees

THE BANK OF NEW YORK MELLON1 year

Filed as: BNY MELLON

Service code 52 · EIN 13-4024319

Indirect Investment Fees

COLUMBIA3 years

Service code 52 · EIN 94-1687665

Indirect Investment Fees

DODGE & COX3 years

Service code 52 · EIN 94-6067274

Indirect Investment Fees

FRANKLIN TEMPLETON3 years

Filed as: FRANKLINTEMPLETON

Service code 52 · EIN 59-6865210

Indirect Investment Fees

INVESCO1 year

Service code 52 · EIN 93-6305075

Indirect Investment Fees

MORGAN STANLEY SMITH BARNEY3 years

Filed as: JP MORGAN

Service code 52 · EIN 33-1043149

Indirect Investment Fees

FIRST SOURCE EMPLOYEE MANAGEMENT RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRST SOURCE EMPLOYEE MANAGEMENT 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