Retirement plan

AKRON GENERAL HEALTH SYSTEM MATCHED RETIREMENT SAVINGS PLAN

Name: AKRON GENERAL MEDICAL CENTER - AKRON GENERAL HEALTH SYSTEM MATCHED RETIREMENT SAVINGS PLAN (2023) Form 5500
Creator: AKRON GENERAL MEDICAL CENTER
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, AKRON GENERAL HEALTH SYSTEM MATCHED RETIREMENT SAVINGS PLAN, AKRON GENERAL MEDICAL CENTER

AKRON GENERAL MEDICAL CENTEREIN 34-0714478Plan #002PY 2023

1 AKRON GENERAL AVENUE - AKRON, OH 44307330-344-6772LinkedIn1-10 employeesmedical practice

Other plans on this EIN

1 filing

#001Retirement-$150.9M assets

Prospect flagsCorrective distributions

How to read this page

Total assets (EOY)

$126.8M

+16.5% from 2022

Total participants

1,020

-0.1% from 2022

Average account balance

$130,539

+16.6% from 2022

Annual return

19.49%

+36.61 pp from 2022

Benchmarks

See 4,036 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort4,036 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

Not enough data

1 years with asset history on file

Average account balance

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

Not enough data

0 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

0 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

Not enough data

0 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$194K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

-99.56%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 5 by compensation

Provider	Service type	Compensation
STRATEGIC ADVISORS, INC.2 years Service code 27 · EIN 04-2654524	Advisory (Plan)	$16,024
FIDELITY INVESTMENTS INSTITUTIONAL6 years Service code 37 · EIN 04-2647786	Loan Processing	$14,682
CBIZ RETIREMENT PLAN SERVICES1 year Filed as: CBIZ CPAS P.C. Service code 10 4040 EMBASSY PARKWAY · AKRON, OH 44333	Accounting	$10,263
ABSOLUTE CAPITAL MANAGEMENT LL1 year Filed as: ABSOLUTE CAPITAL MGMT, LLC Service code 28 · EIN 25-1879568	Investment Management	$9,674
FIDELITY INVESTMENTS INSTITUTIONAL6 years Filed as: FIDELITY INVESTMENTS Service code 60	Sub-TA Fees	$0

Plan features & details

Pension benefit codes2F2G2L2M2R2S2T3H

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.
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

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

Expense breakdown

Schedule H Part II

Admin total

$69K

$108 / participant

Recordkeeping$27K39.6%
Investment mgmt$29K42.4%
Actuarial$2K3.2%
Other / not subdivided$10K14.8%

% of EOY assets

0.055%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CBIZ CPAS P.C.
Auditor EIN: 431947695
Audit fees: $10,263
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$130,539

$47,180+176.7%

$149,723-12.8%

$74,473+75.3%

Participation rate

92.4%

63.4%+29.0pp

78.8%+13.6pp

70.7%+21.6pp

Annual return

19.49%

22.75%-3.3pp

134.50%-115.0pp

34.36%-14.9pp

Employer contribution / active EE

$1,907-100.0%

$4,821-100.0%

$2,638-100.0%

Participant deferral / active EE

$14,702

$2,730+438.5%

$5,682+158.7%

$4,530+224.5%

Admin fee / account holder

$71

$343-79.2%

$13,215-99.5%

$347-79.4%

Provider

Service type

Compensation

STRATEGIC ADVISORS, INC.2 years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$16,024

FIDELITY INVESTMENTS INSTITUTIONAL6 years

Service code 37 · EIN 04-2647786

Loan Processing

$14,682

CBIZ RETIREMENT PLAN SERVICES1 year

Filed as: CBIZ CPAS P.C.

Service code 10

4040 EMBASSY PARKWAY · AKRON, OH 44333

Accounting

$10,263

ABSOLUTE CAPITAL MANAGEMENT LL1 year

Filed as: ABSOLUTE CAPITAL MGMT, LLC

Service code 28 · EIN 25-1879568

Investment Management

$9,674

FIDELITY INVESTMENTS INSTITUTIONAL6 years

Filed as: FIDELITY INVESTMENTS

Service code 60

Sub-TA Fees

AKRON GENERAL HEALTH SYSTEM MATCHED RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

AKRON GENERAL HEALTH SYSTEM MATCHED RETIREMENT SAVINGS 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