Retirement plan

CHERRY BEND FAMILY CARE 401(K) PLAN

Name: CHERRY BEND FAMILY CARE, PLC - CHERRY BEND FAMILY CARE 401(K) PLAN (2024) Form 5500
Creator: CHERRY BEND FAMILY CARE, PLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CHERRY BEND FAMILY CARE 401(K) PLAN, CHERRY BEND FAMILY CARE, PLC

CHERRY BEND FAMILY CARE, PLCEIN 30-0360704Plan #001PY 2024

10223 E. CHERRY BEND RD. - TRAVERSE CITY, MI 49684231-929-7933cherrybendfamilycare.comLinkedIn1-10 employeesmedical practice

Prospect flagsLow fidelity bond

How to read this page

Total assets (EOY)

$1.5M

+25.9% from 2023

Total participants

+100.0% from 2023

Average account balance

$95,387

No prior year

Annual return

17.63%

-4.38 pp from 2023

Benchmarks

See 109,631 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort109,631 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.53M

Not enough data

1 years with asset history on file

Average account balance

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

$95K

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.

200.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$100K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+17.63%

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

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 codes2E2J2F2G2R3D

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

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

$74

$9 / participant

Other / not subdivided$74100.0%

% of EOY assets

0.005%

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

$95,387

$183,592-48.0%

$155,567-38.7%

$145,959-34.6%

Participation rate

75.0%

82.7%-7.7pp

78.2%-3.2pp

80.3%-5.3pp

Annual return

17.63%

61.24%-43.6pp

64.74%-47.1pp

561.95%-544.3pp

Employer contribution / active EE

$8,178

$5,315+53.9%

$4,674+75.0%

$4,661+75.5%

Participant deferral / active EE

$4,327

$6,464-33.1%

$5,628-23.1%

$6,689-35.3%

Admin fee / account holder

$19,318-100.0%

$15,916-100.0%

$13,398-100.0%

CHERRY BEND FAMILY CARE 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CHERRY BEND FAMILY CARE 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