Retirement plan

JONBEC CARE, INC. EMPLOYEES 401(K) PLAN

Name: JONBEC CARE, INC. - JONBEC CARE, INC. EMPLOYEES 401(K) PLAN (2020) Form 5500
Creator: JONBEC CARE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, JONBEC CARE, INC. EMPLOYEES 401(K) PLAN, JONBEC CARE, INC.

JONBEC CARE, INC.EIN 33-0418640Plan #001PY 2020

1711 PLUM LANE - REDLANDS, CA 92374909-798-4002jonbeccare.comLinkedIn11-50 employeeshospital & health care

Prospect flagsLow returnsHigh feesLow participationLow participant contributionLow fidelity bondCorrective distributions

How to read this page

Total assets (EOY)

$2.2M

+11.7% from 2019

Total participants

142

-3.4% from 2019

Average account balance

$44,123

+20.7% from 2019

Annual return

8.66%

-3.78 pp from 2019

Benchmarks

See 5,415 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,415 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.72M

Not enough data

1 years with asset history on file

Average account balance

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

$59K

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.

36.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$101K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$806

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

+10.44%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2504

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

Top 4 by compensation

Provider	Service type	Compensation
QBI, LLC1 year Service code 13 21031 VENTURA BLVD · WOODLAND HILLS, CA 91364	Contract Administrator	$750
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: GREAT-WEST & ANNUITY INSURANCE CO Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$0
INSURANCE OFFICE OF AMERICA2 years Filed as: INSURANCE OFFICE OF AMERICA INC Service code 99 4915 W CYPRESS ST #100 · TAMPA, FL 33607	Other Fees	$0
MONARCH PLAN ADVISORS2 years Filed as: MONARCH CORPORATE ADVISORS INC Service code 27 40 W EASY ST STE 4 · SIMI VALLEY, CA 93065	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2E2F2G2J2K3D

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.
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

6 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$15K

$114 / participant

Contract admin$15K100.0%

% of EOY assets

0.698%

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: PENSION ASSURANCE LLP
Auditor EIN: 300840934
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$44,123

$58,888-25.1%

$178,499-75.3%

$73,493-40.0%

Participation rate

31.9%

66.2%-34.4pp

81.9%-50.1pp

70.7%-38.8pp

Annual return

8.66%

24.86%-16.2pp

151.10%-142.4pp

28.51%-19.8pp

Employer contribution / active EE

$2,236-100.0%

$5,011-100.0%

$2,270-100.0%

Participant deferral / active EE

$711

$2,568-72.3%

$5,202-86.3%

$3,740-81.0%

Admin fee / account holder

$308

$400-23.0%

$13,986-97.8%

$513-39.9%

Provider

Service type

Compensation

QBI, LLC1 year

Service code 13

21031 VENTURA BLVD · WOODLAND HILLS, CA 91364

Contract Administrator

$750

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: GREAT-WEST & ANNUITY INSURANCE CO

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

INSURANCE OFFICE OF AMERICA2 years

Filed as: INSURANCE OFFICE OF AMERICA INC

Service code 99

4915 W CYPRESS ST #100 · TAMPA, FL 33607

Other Fees

MONARCH PLAN ADVISORS2 years

Filed as: MONARCH CORPORATE ADVISORS INC

Service code 27

40 W EASY ST STE 4 · SIMI VALLEY, CA 93065

Advisory (Plan)

JONBEC CARE, INC. EMPLOYEES 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

JONBEC CARE, INC. EMPLOYEES 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