Retirement plan

MENTAL HEALTH AMERICA OF NORTHWEST INDIANA 403(B) PLAN

Name: MENTAL HEALTH ASSOCIATION IN LAKE COUNTY - MENTAL HEALTH AMERICA OF NORTHWEST INDIANA 403(B) PLAN (2024) Form 5500
Creator: MENTAL HEALTH ASSOCIATION IN LAKE COUNTY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MENTAL HEALTH AMERICA OF NORTHWEST INDIANA 403(B) PLAN, MENTAL HEALTH ASSOCIATION IN LAKE COUNTY

MENTAL HEALTH ASSOCIATION IN LAKE COUNTYEIN 35-1014213Plan #001PY 2024

5311 HOHMAN AVE - HAMMOND, IN 46320219-937-7733LinkedIn1-10 employeeshospital & health care

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.7M

+18.5% from 2023

Total participants

101

+17.4% from 2023

Average account balance

$18,886

+0.2% from 2023

Annual return

13.59%

-0.38 pp from 2023

Benchmarks

See 21,762 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort21,762 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.72M

Not enough data

1 years with asset history on file

Average account balance

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

$19K

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.

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.

107.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$140K

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

+13.59%

Not enough data

1 years with return on file

Admin fee / account holder

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

$770

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

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2L2M2T3D

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.
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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$70K

$825 / participant

Other / not subdivided$70K100.0%

% of EOY assets

4.079%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$18,886

$81,233-76.8%

$155,567-87.9%

$80,874-76.6%

Participation rate

88.2%

66.2%+22.0pp

78.2%+10.0pp

67.6%+20.6pp

Annual return

13.59%

33.33%-19.7pp

64.74%-51.1pp

35.62%-22.0pp

Employer contribution / active EE

$646

$3,101-79.2%

$4,674-86.2%

$2,756-76.6%

Participant deferral / active EE

$997

$3,452-71.1%

$5,628-82.3%

$4,297-76.8%

Admin fee / account holder

$770

$7,998-90.4%

$15,916-95.2%

$6,935-88.9%

MENTAL HEALTH AMERICA OF NORTHWEST INDIANA 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MENTAL HEALTH AMERICA OF NORTHWEST INDIANA 403(B) 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