Retirement plan

LIFEBANC 401(K) RETIREMENT PLAN

Name: LIFEBANC INC. - LIFEBANC 401(K) RETIREMENT PLAN (2018) Form 5500
Creator: LIFEBANC INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LIFEBANC 401(K) RETIREMENT PLAN, LIFEBANC INC.

LIFEBANC INC.EIN 34-1525159Plan #002PY 2018

4775 RICHMOND RD. - CLEVELAND, OH 441285334216-752-5433lifebanc.orgLinkedIn51-200 employeeshospital & health care

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$8.1M

+1.6% from 2017

Total participants

178

+13.4% from 2017

Average account balance

$45,857

-10.4% from 2017

Annual return

-4.86%

-23.86 pp from 2017

Benchmarks

See 5,259 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,259 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$17.17M

Not enough data

1 years with asset history on file

Average account balance

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

$70K

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.

246

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.

99.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.78M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+14.65%

Not enough data

1 years with return on file

Admin fee / account holder

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

$221

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 1 by compensation

Provider	Service type	Compensation
PNC BANK, N.A.4+ years Filed as: PNC BANK, NATIONAL ASSOCIATION Service code 25 · EIN 22-1146430	Directed Trustee	$41,118

Plan features & details

Pension benefit codes2E2G2J2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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.

Opportunity flags

1 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$41K

$300 / participant

Other / not subdivided$41K100.0%

% of EOY assets

0.507%

all-in expense ratio

Categories reported

0 / 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: BDO USA, LLP
Auditor EIN: 135381590
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$45,857

$47,977-4.4%

$154,108-70.2%

$56,289-18.5%

Participation rate

99.3%

66.2%+33.1pp

83.0%+16.2pp

69.9%+29.4pp

Annual return

-4.86%

3.54%-8.4pp

735.21%-740.1pp

-9.96%+5.1pp

Employer contribution / active EE

$3,878

$2,169+78.8%

$5,298-26.8%

$2,111+83.7%

Participant deferral / active EE

$2,673

$2,392+11.8%

$5,081-47.4%

$3,350-20.2%

Admin fee / account holder

$232

$438-47.0%

$13,411-98.3%

$521-55.4%

Provider

Service type

Compensation

PNC BANK, N.A.4+ years

Filed as: PNC BANK, NATIONAL ASSOCIATION

Service code 25 · EIN 22-1146430

Directed Trustee

$41,118

LIFEBANC 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LIFEBANC 401(K) RETIREMENT 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