Retirement plan

GOODWILL OF THE FINGER LAKES, INC. 403(B) PLAN

Name: GOODWILL OF THE FINGER LAKES, INC. - GOODWILL OF THE FINGER LAKES, INC. 403(B) PLAN (2023) Form 5500
Creator: GOODWILL OF THE FINGER LAKES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GOODWILL OF THE FINGER LAKES, INC. 403(B) PLAN, GOODWILL OF THE FINGER LAKES, INC.

GOODWILL OF THE FINGER LAKES, INC.EIN 27-4212702Plan #002PY 2023

422 SOUTH CLINTON AVEUNE - ROCHESTER, NY 146201198585-232-1111goodwillfingerlakes.orgLinkedIn501-1000 employeesretail

Prospect flagsLow assets / participantLow participant contributionFailed to transmit contributions

Top hat statement on fileNQDC

Filed July 17, 2013

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)

$9.5M

+17.8% from 2022

Total participants

1,435

+12.3% from 2022

Average account balance

$7,631

+4.8% from 2022

Annual return

19.42%

+30.79 pp from 2022

Benchmarks

See 4,038 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort4,038 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

Not enough data

1 years with asset history on file

Average account balance

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

Not enough data

0 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

0 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

Not enough data

0 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$119K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

-92.81%

Not enough data

1 years with return on file

Admin fee / account holder

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

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

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Service providers

Top 6 by compensation

Provider	Service type	Compensation
NATIONWIDE6+ years Service code 64 · EIN 31-4156830 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215	Recordkeeping Fees	$62,732
COMMONWEALTH FINANCIAL NETWORK6+ years Service code 26 · EIN 04-2675571 29 SAWYER ROAD · WALTHAM, MA 024533483	Advisory (Participants)	$23,997
RIMKUS, MARCIANO & ASSOCIATES, INC.5 years Filed as: RIMKUS MARCIANO & ASSOCIATES, INC Service code 15 · EIN 22-2725182 3136 WINTON ROAD SOUTH · ROCHESTER, NY 146232928	Recordkeeping	$23,882
BONADIO & CO., LLP1 year Filed as: BONADIO & COMPANY Service code 64 · EIN 16-1131146 171 SULLYS TRAIL · PITTSFORD, NY 14534	Recordkeeping Fees	$10,250
HARTER SECREST & EMERY LLP1 year Filed as: HARTER SECREST AND EMERY LLP Service code 29 · EIN 37-7802020 1600 BAUSH AND LOMB PLACE · ROCHETER, NY 14604	Legal	$1,684
EQUITABLE ADVISORS LLC2 years Filed as: EQUITABLE FINANCIAL LIFE INSURANCE Service code 25 · EIN 13-5570651	Directed Trustee	$0

Plan features & details

Pension benefit codes2E2F2G2M2T3D

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.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
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 participant contribution
Participant contribution per participant 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.
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

$111K

$147 / participant

Investment mgmt$33K29.8%
Contract admin$53K47.6%
Other / not subdivided$25K22.5%

% of EOY assets

1.175%

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: BONADIO & CO. LLP
Auditor EIN: 161131146
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$7,631

$47,163-83.8%

$149,696-94.9%

$74,460-89.8%

Participation rate

74.1%

63.4%+10.7pp

78.8%-4.7pp

70.7%+3.4pp

Annual return

19.42%

22.75%-3.3pp

134.46%-115.0pp

34.38%-15.0pp

Employer contribution / active EE

$821

$1,907-56.9%

$4,821-83.0%

$2,638-68.9%

Participant deferral / active EE

$767

$2,730-71.9%

$5,682-86.5%

$4,530-83.1%

Admin fee / account holder

$90

$343-73.8%

$13,212-99.3%

$348-74.2%

Provider

Service type

Compensation

NATIONWIDE6+ years

Service code 64 · EIN 31-4156830

ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215

Recordkeeping Fees

$62,732

COMMONWEALTH FINANCIAL NETWORK6+ years

Service code 26 · EIN 04-2675571

29 SAWYER ROAD · WALTHAM, MA 024533483

Advisory (Participants)

$23,997

RIMKUS, MARCIANO & ASSOCIATES, INC.5 years

Filed as: RIMKUS MARCIANO & ASSOCIATES, INC

Service code 15 · EIN 22-2725182

3136 WINTON ROAD SOUTH · ROCHESTER, NY 146232928

Recordkeeping

$23,882

BONADIO & CO., LLP1 year

Filed as: BONADIO & COMPANY

Service code 64 · EIN 16-1131146

171 SULLYS TRAIL · PITTSFORD, NY 14534

Recordkeeping Fees

$10,250

HARTER SECREST & EMERY LLP1 year

Filed as: HARTER SECREST AND EMERY LLP

Service code 29 · EIN 37-7802020

1600 BAUSH AND LOMB PLACE · ROCHETER, NY 14604

Legal

$1,684

EQUITABLE ADVISORS LLC2 years

Filed as: EQUITABLE FINANCIAL LIFE INSURANCE

Service code 25 · EIN 13-5570651

Directed Trustee

GOODWILL OF THE FINGER LAKES, INC. 403(B) PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GOODWILL OF THE FINGER LAKES, INC. 403(B) 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