Retirement plan

LIFEBANC 401(K) RETIREMENT PLAN

Name: LIFEBANC INC. - LIFEBANC 401(K) RETIREMENT PLAN (2019) 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 2019

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

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$9.6M

+18.4% from 2018

Total participants

165

-7.3% from 2018

Average account balance

$58,941

+28.5% from 2018

Annual return

20.70%

+25.56 pp from 2018

Benchmarks

See 5,341 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,341 peers

Snapshot2019

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 2 by compensation

Provider	Service type	Compensation
NEWPORT GROUP, INC.1 year Service code 15 · EIN 27-2037969	Recordkeeping	$23,291
PNC BANK, N.A.5+ years Filed as: PNC BANK, NATIONAL ASSOCIATION Service code 25 · EIN 22-1146430	Directed Trustee	$19,240

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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$43K

$317 / participant

Other / not subdivided$43K100.0%

% of EOY assets

0.443%

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: CIUNI & PANICHI, INC.
Auditor EIN: 341322309
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$58,941

$52,967+11.3%

$172,753-65.9%

$65,186-9.6%

Participation rate

98.5%

66.2%+32.3pp

82.6%+15.9pp

70.2%+28.3pp

Annual return

20.70%

30.12%-9.4pp

803.00%-782.3pp

29.39%-8.7pp

Employer contribution / active EE

$3,891

$2,190+77.7%

$5,144-24.4%

$2,177+78.8%

Participant deferral / active EE

$2,771

$2,471+12.1%

$5,198-46.7%

$3,514-21.1%

Admin fee / account holder

$261

$472-44.7%

$13,956-98.1%

$847-69.2%

Provider

Service type

Compensation

NEWPORT GROUP, INC.1 year

Service code 15 · EIN 27-2037969

Recordkeeping

$23,291

PNC BANK, N.A.5+ years

Filed as: PNC BANK, NATIONAL ASSOCIATION

Service code 25 · EIN 22-1146430

Directed Trustee

$19,240

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