Retirement plan

RAVENWOOD MENTAL HEALTH CENTER 401(K) PROFIT SHARING PLAN & TRU

Name: RAVENWOOD MENTAL HEALTH CENTER - RAVENWOOD MENTAL HEALTH CENTER 401(K) PROFIT SHARING PLAN & TRU (2023) Form 5500
Creator: RAVENWOOD MENTAL HEALTH CENTER
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RAVENWOOD MENTAL HEALTH CENTER 401(K) PROFIT SHARING PLAN & TRU, RAVENWOOD MENTAL HEALTH CENTER

RAVENWOOD MENTAL HEALTH CENTEREIN 34-6573631Plan #001PY 2023

12557 RAVENWOOD DR. - CHARDON, OH 44024440-285-3568

Prospect flagsLow participationLow fidelity bondCorrective distributions

How to read this page

Total assets (EOY)

$4.5M

+19.2% from 2022

Total participants

244

-13.2% from 2022

Average account balance

$33,056

+51.7% from 2022

Annual return

13.55%

+29.86 pp from 2022

Benchmarks

See 5,708 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,708 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.16M

Not enough data

1 years with asset history on file

Average account balance

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

$42K

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.

122

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.

45.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$448K

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

+9.20%

Not enough data

1 years with return on file

Admin fee / account holder

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

$323

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
LPL FINANCIAL5 years Filed as: LPL FINANCIAL CORPORATION RPCP Service code 15 · EIN 95-2834236	Recordkeeping	$20,034
ADP BROKER-DEALER4 years Filed as: ADP, INC. Service code 15 · EIN 13-3036745	Recordkeeping	$17,116

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.
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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$37K

$180 / participant

Recordkeeping$17K46.1%
Investment mgmt$20K53.9%

% of EOY assets

0.826%

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: NMS INC.
Auditor EIN: 341909930
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$33,056

$61,356-46.1%

$149,696-77.9%

$71,511-53.8%

Participation rate

47.6%

62.5%-15.0pp

78.8%-31.2pp

67.9%-20.4pp

Annual return

13.55%

35.86%-22.3pp

134.46%-120.9pp

28.86%-15.3pp

Employer contribution / active EE

$543

$2,382-77.2%

$4,821-88.7%

$2,589-79.0%

Participant deferral / active EE

$1,382

$2,920-52.7%

$5,682-75.7%

$4,291-67.8%

Admin fee / account holder

$273

$1,263-78.4%

$13,212-97.9%

$1,588-82.8%

Provider

Service type

Compensation

LPL FINANCIAL5 years

Filed as: LPL FINANCIAL CORPORATION RPCP

Service code 15 · EIN 95-2834236

Recordkeeping

$20,034

ADP BROKER-DEALER4 years

Filed as: ADP, INC.

Service code 15 · EIN 13-3036745

Recordkeeping

$17,116

RAVENWOOD MENTAL HEALTH CENTER 401(K) PROFIT SHARING PLAN & TRU

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RAVENWOOD MENTAL HEALTH CENTER 401(K) PROFIT SHARING PLAN & TRU

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