Retirement plan

PROGRESSIVE QUALITY CARE, INC. 401(K) PLAN

Name: PROGRESSIVE QUALITY CARE, INC. - PROGRESSIVE QUALITY CARE, INC. 401(K) PLAN (2024) Form 5500
Creator: PROGRESSIVE QUALITY CARE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PROGRESSIVE QUALITY CARE, INC. 401(K) PLAN, PROGRESSIVE QUALITY CARE, INC.

PROGRESSIVE QUALITY CARE, INC.EIN 31-1793765Plan #001PY 2024

5442 RAE RD - LYNDHURST, OH 44124216-661-6800progressivequalitycare.comLinkedIn1001-5000 employeeshospital & health care

Prospect flagsLow participationLow assets / participantLow employer contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$3.2M

+6.4% from 2023

Total participants

251

-8.1% from 2023

Average account balance

$18,451

+13.2% from 2023

Annual return

13.02%

-8.61 pp from 2023

Benchmarks

See 575 peers

Peer group

Industry11 - Agriculture, Forestry, Fishing and Hunting

Plan typeDefined contribution

Participants100-249

Cohort575 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.16M

Not enough data

1 years with asset history on file

Average account balance

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

$18K

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.

171

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.

42.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$173K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+13.02%

Not enough data

1 years with return on file

Admin fee / account holder

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

$91

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 11 by compensation

Provider	Service type	Compensation
LPL FINANCIAL2 years Service code 28 · EIN 52-1660746	Investment Management	$10,256
T ROWE PRICE RPS INC7 years Filed as: T. ROWE PRICE RPS, INC. Service code 15 · EIN 52-1309931	Recordkeeping	$5,315
AMERICAN FUNDS7 years Service code 28 · EIN 95-1411037	Investment Management	$0
BLACKROCK3 years Filed as: BLACKROCK FUNDS Service code 28 · EIN 04-6171663	Investment Management	$0
FIDELITY INVESTMENTS INSTITUTIONAL6 years Filed as: FIDELITY Service code 28 · EIN 04-2647786	Investment Management	$0
GOLDMAN SACHS3 years Filed as: GOLDMAN SACHS FUNDS Service code 28 · EIN 13-3575636	Investment Management	$0
MORGAN STANLEY SMITH BARNEY6 years Filed as: JP MORGAN FUNDS Service code 28 · EIN 13-2624428	Investment Management	$0
PRINCIPAL LIFE INSURANCE COMPANY3 years Filed as: PRINCIPAL FUNDS Service code 28 · EIN 42-1520346	Investment Management	$0
T ROWE PRICE RPS INC7 years Filed as: T ROWE PRICE RPS, INC Service code 15	Recordkeeping	$0
THE VANGUARD GROUP, INC.7 years Filed as: VANGUARD Service code 28 · EIN 23-1945930	Investment Management	$0

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

4 tripped

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

$16K

$112 / participant

Investment mgmt$10K65.9%
Contract admin$5K34.1%

% of EOY assets

0.494%

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: MALONEY & NOVOTNY
Auditor EIN: 340677006
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$18,451

$62,393-70.4%

$120,580-84.7%

$74,478-75.2%

Participation rate

42.4%

56.8%-14.3pp

72.0%-29.5pp

67.2%-24.8pp

Annual return

13.02%

18.61%-5.6pp

107.48%-94.5pp

1370.56%-1357.5pp

Employer contribution / active EE

$1,845-100.0%

$3,469-100.0%

$2,626-100.0%

Participant deferral / active EE

$1,241

$2,886-57.0%

$4,995-75.2%

$4,350-71.5%

Admin fee / account holder

$91

$2,396-96.2%

$9,418-99.0%

$1,946-95.3%

Provider

Service type

Compensation

LPL FINANCIAL2 years

Service code 28 · EIN 52-1660746

Investment Management

$10,256

T ROWE PRICE RPS INC7 years

Filed as: T. ROWE PRICE RPS, INC.

Service code 15 · EIN 52-1309931

Recordkeeping

$5,315

AMERICAN FUNDS7 years

Service code 28 · EIN 95-1411037

Investment Management

BLACKROCK3 years

Filed as: BLACKROCK FUNDS

Service code 28 · EIN 04-6171663

Investment Management

FIDELITY INVESTMENTS INSTITUTIONAL6 years

Filed as: FIDELITY

Service code 28 · EIN 04-2647786

Investment Management

GOLDMAN SACHS3 years

Filed as: GOLDMAN SACHS FUNDS

Service code 28 · EIN 13-3575636

Investment Management

MORGAN STANLEY SMITH BARNEY6 years

Filed as: JP MORGAN FUNDS

Service code 28 · EIN 13-2624428

Investment Management

PRINCIPAL LIFE INSURANCE COMPANY3 years

Filed as: PRINCIPAL FUNDS

Service code 28 · EIN 42-1520346

Investment Management

T ROWE PRICE RPS INC7 years

Filed as: T ROWE PRICE RPS, INC

Service code 15

Recordkeeping

THE VANGUARD GROUP, INC.7 years

Filed as: VANGUARD

Service code 28 · EIN 23-1945930

Investment Management

PROGRESSIVE QUALITY CARE, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PROGRESSIVE QUALITY CARE, INC. 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