Retirement plan

SPERO HEALTH, INC. 401K PLAN

Name: SPERO HEALTH, INC. - SPERO HEALTH, INC. 401K PLAN (2023) Form 5500
Creator: SPERO HEALTH, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SPERO HEALTH, INC. 401K PLAN, SPERO HEALTH, INC.

SPERO HEALTH, INC.EIN 32-0548053Plan #001PY 2023

155 FRANKLIN RD SUITE 430, SUITE 430 - BRENTWOOD, TN 370279504615-265-0371sperohealth.comLinkedIn1001-5000 employeesmedical practice

Prospect flagsLow participation

How to read this page

Total assets (EOY)

$8.5M

+38.5% from 2022

Total participants

438

-7.2% from 2022

Average account balance

$31,257

+59.0% from 2022

Annual return

23.36%

+38.05 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

$10.36M

Not enough data

1 years with asset history on file

Average account balance

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

$38K

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.

273

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.

52.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.56M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+15.78%

Not enough data

1 years with return on file

Admin fee / account holder

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

$39

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 4 by compensation

Provider	Service type	Compensation
SUNTRUST BANKS, INC.2 years Filed as: TRUIST ADVISORY SERVICES INC Service code 99	Other Fees	$21,480
MCGREGOR & ASSOCIATES, INC.2 years Filed as: MCGREGOR & ASSOCIATES, INC Service code 49	Other Services	$3,366
MORNINGSTAR2 years Service code 27	Advisory (Plan)	$1,168
SUNTRUST BANKS, INC.2 years Filed as: TRUIST ADVISOR SERVICES INC Service code 99 · EIN 37-1808847	Other Fees	$0

Plan features & details

Pension benefit codes2E2F2G2J2S2T3D3H

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

1 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$22K

$60 / participant

Contract admin$22K100.0%

% of EOY assets

0.254%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: LBMC, PC
Auditor EIN: 621199757
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$31,257

$47,163-33.7%

$149,696-79.1%

$74,460-58.0%

Participation rate

53.5%

63.4%-9.9pp

78.8%-25.3pp

70.7%-17.3pp

Annual return

23.36%

22.75%+0.6pp

134.46%-111.1pp

34.38%-11.0pp

Employer contribution / active EE

$1,677

$1,907-12.1%

$4,821-65.2%

$2,638-36.4%

Participant deferral / active EE

$2,953

$2,730+8.2%

$5,682-48.0%

$4,530-34.8%

Admin fee / account holder

$79

$343-76.9%

$13,212-99.4%

$348-77.2%

Provider

Service type

Compensation

SUNTRUST BANKS, INC.2 years

Filed as: TRUIST ADVISORY SERVICES INC

Service code 99

Other Fees

$21,480

MCGREGOR & ASSOCIATES, INC.2 years

Filed as: MCGREGOR & ASSOCIATES, INC

Service code 49

Other Services

$3,366

MORNINGSTAR2 years

Service code 27

Advisory (Plan)

$1,168

SUNTRUST BANKS, INC.2 years

Filed as: TRUIST ADVISOR SERVICES INC

Service code 99 · EIN 37-1808847

Other Fees

SPERO HEALTH, INC. 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SPERO HEALTH, INC. 401K 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