Retirement plan

BEACON HOSPITAL MANAGEMENT, LLC 401(K) PLAN

Name: BEACON HOSPITAL MANAGEMENT, LLC - BEACON HOSPITAL MANAGEMENT, LLC 401(K) PLAN (2021) Form 5500
Creator: BEACON HOSPITAL MANAGEMENT, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BEACON HOSPITAL MANAGEMENT, LLC 401(K) PLAN, BEACON HOSPITAL MANAGEMENT, LLC

BEACON HOSPITAL MANAGEMENT, LLCEIN 27-3174264Plan #002PY 2021

4601 BLUEBONNET BLVD, STE B - BATON ROUGE, LA 70809225-810-4040LinkedIn201-500 employeeshospital & health care

Prospect flagsHigh feesLow participationLow participant contributionLow fidelity bondFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$1.5M

+2.3% from 2020

Total participants

271

+4.6% from 2020

Average account balance

$24,101

-24.8% from 2020

Annual return

14.65%

-4.80 pp from 2020

Benchmarks

See 5,353 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,353 peers

Snapshot2021

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$7.56M

Not enough data

1 years with asset history on file

Average account balance

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

$25K

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.

299

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.

35.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.50M

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

+128.24%

Not enough data

1 years with return on file

Admin fee / account holder

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

$264

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 3 by compensation

Provider	Service type	Compensation
TRANSAMERICA RETIREMENT SOLUTIONS7+ years Filed as: TRANSAMERICA FINANCIAL LIFE INSURAN Service code 15 · EIN 36-6071399	Recordkeeping	$16,692
MERRILL LYNCH PIERCE FENNER & SMITH7+ years Filed as: MERRILL LYNCH LIFE AGENCY, INC Service code 27 · EIN 13-2808480	Advisory (Plan)	$7,762
THE HASLAUER GROUP, INC.7+ years Filed as: THE HASLAUER GROUP, INC Service code 15 · EIN 72-1487108 2400 VETERANS MEMORIAL BLVD., STE 3 · KENNER, LA 70062	Recordkeeping	$600

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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

6 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
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).
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$25K

$101 / participant

Other / not subdivided$25K100.0%

% of EOY assets

1.624%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: APPLE GUERIN COMPANY, LLC
Auditor EIN: 721348954
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$24,101

$61,156-60.6%

$185,823-87.0%

$79,386-69.6%

Participation rate

16.5%

66.6%-50.1pp

81.7%-65.2pp

70.7%-54.2pp

Annual return

14.65%

19.45%-4.8pp

122.05%-107.4pp

116.85%-102.2pp

Employer contribution / active EE

$2,321-100.0%

$5,167-100.0%

$2,427-100.0%

Participant deferral / active EE

$536

$2,789-80.8%

$5,568-90.4%

$4,046-86.8%

Admin fee / account holder

$391

$710-44.8%

$16,237-97.6%

$626-37.5%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS7+ years

Filed as: TRANSAMERICA FINANCIAL LIFE INSURAN

Service code 15 · EIN 36-6071399

Recordkeeping

$16,692

MERRILL LYNCH PIERCE FENNER & SMITH7+ years

Filed as: MERRILL LYNCH LIFE AGENCY, INC

Service code 27 · EIN 13-2808480

Advisory (Plan)

$7,762

THE HASLAUER GROUP, INC.7+ years

Filed as: THE HASLAUER GROUP, INC

Service code 15 · EIN 72-1487108

2400 VETERANS MEMORIAL BLVD., STE 3 · KENNER, LA 70062

Recordkeeping

$600

BEACON HOSPITAL MANAGEMENT, LLC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BEACON HOSPITAL MANAGEMENT, LLC 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