Retirement plan

LIFEBANC 401(K) RETIREMENT PLAN

Name: LIFEBANC, INC. - LIFEBANC 401(K) RETIREMENT PLAN (2020) 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 2020

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)

$11.9M

+24.3% from 2019

Total participants

192

+16.4% from 2019

Average account balance

$63,203

+7.2% from 2019

Annual return

17.07%

-3.63 pp from 2019

Benchmarks

See 5,414 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,414 peers

Snapshot2020

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
NEWPORT GROUP, INC.2 years Service code 15 · EIN 27-2037969	Recordkeeping	$49,020

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

$49K

$366 / participant

Contract admin$49K100.0%

% of EOY assets

0.410%

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$63,203

$58,895+7.3%

$178,503-64.6%

$73,497-14.0%

Participation rate

97.8%

66.2%+31.5pp

81.9%+15.8pp

70.7%+27.1pp

Annual return

17.07%

24.86%-7.8pp

151.12%-134.0pp

28.51%-11.4pp

Employer contribution / active EE

$4,353

$2,236+94.7%

$5,011-13.1%

$2,270+91.7%

Participant deferral / active EE

$2,983

$2,567+16.2%

$5,202-42.7%

$3,740-20.2%

Admin fee / account holder

$259

$400-35.2%

$13,987-98.1%

$513-49.4%

Provider

Service type

Compensation

NEWPORT GROUP, INC.2 years

Service code 15 · EIN 27-2037969

Recordkeeping

$49,020

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