Retirement plan

TORRANCE HEALTH ASSOCIATION 403(B) PLAN

Name: TORRANCE HEALTH ASSOCIATION - TORRANCE HEALTH ASSOCIATION 403(B) PLAN (2021) Form 5500
Creator: TORRANCE HEALTH ASSOCIATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TORRANCE HEALTH ASSOCIATION 403(B) PLAN, TORRANCE HEALTH ASSOCIATION

TORRANCE HEALTH ASSOCIATIONEIN 33-0073515Plan #005PY 2021

3330 LOMITA BLVD - TORRANCE, CA 90505310-517-4792torrancedentalassociates.comLinkedIn11-50 employeesmedical practice

Other plans on this EIN

2 filings

#001Retirement-$479.7M assets #002Retirement-$55.5M assets

Prospect flagsLow returnsLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$364M

-9.6% from 2016

Total participants

5,232

-1.6% from 2016

Average account balance

$73,338

+1.9% from 2016

Annual return

11.80%

-4.14 pp from 2016

Benchmarks

See 1,316 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants1,000-4,999

Cohort1,316 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$406.07M

Not enough data

1 years with asset history on file

Average account balance

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

$68K

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.

5,998

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.

92.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$26.85M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+11.92%

Not enough data

1 years with return on file

Admin fee / account holder

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

$79

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 6 by compensation

Provider	Service type	Compensation
LINCOLN NATIONAL CORPORATION7+ years Service code 13 · EIN 35-1140070	Contract Administrator	$438,669
FIDELITY INVESTMENTS INSTITUTIONAL7+ years Filed as: FIDELITY INVESTMENTS Service code 64 · EIN 04-2647786	Recordkeeping Fees	$11,042
VOYA RETIREMENT INSURANCE & ANNUITY7+ years Filed as: VOYA RETIREMENT INSURANCE AND ANNUI Service code 26 · EIN 71-0294708	Advisory (Participants)	$10,596
METLIFE LIFE INSURANCE COMPANY4 years Service code 64 11225 NORTH COMMUNITY HOUSE ROAD · CHARLOTTE, NC 28277	Recordkeeping Fees	$8,155
MORNINGSTAR2 years Filed as: MORNINGSTAR INVESTMENT MANAGEMENT Service code 26 · EIN 36-4317381	Advisory (Participants)	$5,144
NATIONWIDE6 years Service code 13 · EIN 31-4156830	Contract Administrator	$360

Plan features & details

Pension benefit codes2F2G2L2M2T3H2R3D2S

Plan features

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.
2L
Code section 403(b)(1) arrangement
Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

3 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$469K

$109 / participant

Contract admin$458K97.6%
Other / not subdivided$11K2.4%

% of EOY assets

0.129%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: ERNST & YOUNG LLP
Auditor EIN: 346565596
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$73,338

$67,512+8.6%

$185,854-60.5%

$93,010-21.2%

Participation rate

93.8%

67.1%+26.6pp

81.7%+12.1pp

73.9%+19.9pp

Annual return

11.80%

21.04%-9.2pp

122.12%-110.3pp

158.70%-146.9pp

Employer contribution / active EE

$1,783-99.9%

$5,169-100.0%

$2,705-99.9%

Participant deferral / active EE

$5,172

$3,035+70.4%

$5,569-7.1%

$4,561+13.4%

Admin fee / account holder

$94

$318-70.3%

$16,246-99.4%

$152-37.7%

Provider

Service type

Compensation

LINCOLN NATIONAL CORPORATION7+ years

Service code 13 · EIN 35-1140070

Contract Administrator

$438,669

FIDELITY INVESTMENTS INSTITUTIONAL7+ years

Filed as: FIDELITY INVESTMENTS

Service code 64 · EIN 04-2647786

Recordkeeping Fees

$11,042

VOYA RETIREMENT INSURANCE & ANNUITY7+ years

Filed as: VOYA RETIREMENT INSURANCE AND ANNUI

Service code 26 · EIN 71-0294708

Advisory (Participants)

$10,596

METLIFE LIFE INSURANCE COMPANY4 years

Service code 64

11225 NORTH COMMUNITY HOUSE ROAD · CHARLOTTE, NC 28277

Recordkeeping Fees

$8,155

MORNINGSTAR2 years

Filed as: MORNINGSTAR INVESTMENT MANAGEMENT

Service code 26 · EIN 36-4317381

Advisory (Participants)

$5,144

NATIONWIDE6 years

Service code 13 · EIN 31-4156830

Contract Administrator

$360

TORRANCE HEALTH ASSOCIATION 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TORRANCE HEALTH ASSOCIATION 403(B) 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