Retirement plan

LIFESTEPS 401(K) PROFIT SHARING PLAN

Name: LIFESTEPS - LIFESTEPS 401(K) PROFIT SHARING PLAN (2022) Form 5500
Creator: LIFESTEPS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LIFESTEPS 401(K) PROFIT SHARING PLAN, LIFESTEPS

LIFESTEPSEIN 33-0720982Plan #001PY 2022

3247 RAMOS CIRCLE - SACRAMENTO, CA 95827916-965-0110lifestepsusa.orgLinkedIn201-500 employeesnon-profit organization management

Prospect flagsLow participationLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$1.4M

-2.3% from 2021

Total participants

123

+3.4% from 2021

Average account balance

$25,103

-4.0% from 2021

Annual return

-17.29%

-35.70 pp from 2021

Benchmarks

See 5,345 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,345 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.32M

Not enough data

1 years with asset history on file

Average account balance

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

$29K

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.

53.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$330K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+14.16%

Not enough data

1 years with return on file

Admin fee / account holder

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

$935

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

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
MERRILL LYNCH PIERCE FENNER & SMITH1 year Filed as: MERRILL LYNCH-EPS Service code 26 · EIN 13-5674085 150 N. COLLEGE STREET · CHARLOTTE, NC 28202	Advisory (Participants)	$2,746
MERRILL LYNCH PIERCE FENNER & SMITH1 year Filed as: MERRILL LYNCH-FAS Service code 26 · EIN 13-5674085 150 N. COLLEGE STREET · CHARLOTTE, NC 28202	Advisory (Participants)	$2,746
JOHN HANCOCK LIFE INSURANCE COMPANY2 years Filed as: JOHN HANCOCK USA Service code 15 · EIN 01-0233346 PO BOX 600 · BUFFALO, NY 142010600	Recordkeeping	$258

Plan features & details

Pension benefit codes2E2F2G2J2K2S3D

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

3 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.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$16K

$137 / participant

Investment mgmt$5K34.9%
Contract admin$10K63.2%
Other / not subdivided$3001.9%

% of EOY assets

1.099%

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: HAWES HOLLIDAY & ASSOCIATES
Auditor EIN: 680154875
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$25,103

$65,125-61.5%

$143,797-82.5%

$66,949-62.5%

Participation rate

42.6%

65.2%-22.6pp

80.3%-37.7pp

69.8%-27.2pp

Annual return

-17.29%

-11.13%-6.2pp

-0.04%-17.3pp

1.57%-18.9pp

Employer contribution / active EE

$230

$2,362-90.3%

$4,952-95.3%

$2,545-91.0%

Participant deferral / active EE

$1,958

$2,920-33.0%

$5,638-65.3%

$4,239-53.8%

Admin fee / account holder

$276

$503-45.1%

$14,679-98.1%

$594-53.5%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH1 year

Filed as: MERRILL LYNCH-EPS

Service code 26 · EIN 13-5674085

150 N. COLLEGE STREET · CHARLOTTE, NC 28202

Advisory (Participants)

$2,746

MERRILL LYNCH PIERCE FENNER & SMITH1 year

Filed as: MERRILL LYNCH-FAS

Service code 26 · EIN 13-5674085

150 N. COLLEGE STREET · CHARLOTTE, NC 28202

Advisory (Participants)

$2,746

JOHN HANCOCK LIFE INSURANCE COMPANY2 years

Filed as: JOHN HANCOCK USA

Service code 15 · EIN 01-0233346

PO BOX 600 · BUFFALO, NY 142010600

Recordkeeping

$258

LIFESTEPS 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LIFESTEPS 401(K) PROFIT SHARING 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