Retirement plan

HOPEDALE MEDICAL FOUNDATION 401(K) CASH DEFERRED PROFIT SHARING PLAN

Name: HOPEDALE MEDICAL FOUNDATION - HOPEDALE MEDICAL FOUNDATION 401(K) CASH DEFERRED PROFIT SHARING PLAN (2020) Form 5500
Creator: HOPEDALE MEDICAL FOUNDATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HOPEDALE MEDICAL FOUNDATION 401(K) CASH DEFERRED PROFIT SHARING PLAN, HOPEDALE MEDICAL FOUNDATION

HOPEDALE MEDICAL FOUNDATIONEIN 37-0808925Plan #001PY 2020

PO BOX 267 - HOPEDALE, IL 617470267309-449-4364LinkedIn1-10 employeeshospital & health care

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$8.6M

+5.7% from 2019

Total participants

262

-2.2% from 2019

Average account balance

$49,437

+6.3% from 2019

Annual return

12.72%

-7.02 pp from 2019

Benchmarks

See 5,415 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,415 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.93M

Not enough data

1 years with asset history on file

Average account balance

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

$58K

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.

205

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.

58.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.08M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+12.16%

Not enough data

1 years with return on file

Admin fee / account holder

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

$217

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
BENEFIT PLANNING CONSULTANTS6+ years Service code 17 · EIN 32-7481187 2110 CLEARLAKE BLVD · CHAMPAIGN, IL 618228933	Pension Consulting	$6,024
JOHN HANCOCK LIFE INSURANCE COMPANY6+ years Service code 15 · EIN 01-0233346	Recordkeeping	$170

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$52K

$233 / participant

Investment mgmt$27K51.8%
Other / not subdivided$25K48.2%

% of EOY assets

0.609%

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: CLIFTONLARSONALLEN LLP
Auditor EIN: 410746749
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$49,437

$58,888-16.1%

$178,499-72.3%

$73,493-32.7%

Participation rate

60.1%

66.2%-6.1pp

81.9%-21.8pp

70.7%-10.6pp

Annual return

12.72%

24.86%-12.1pp

151.10%-138.4pp

28.51%-15.8pp

Employer contribution / active EE

$932

$2,236-58.3%

$5,011-81.4%

$2,270-59.0%

Participant deferral / active EE

$2,380

$2,568-7.3%

$5,202-54.2%

$3,740-36.4%

Admin fee / account holder

$301

$400-24.8%

$13,986-97.8%

$513-41.3%

Provider

Service type

Compensation

BENEFIT PLANNING CONSULTANTS6+ years

Service code 17 · EIN 32-7481187

2110 CLEARLAKE BLVD · CHAMPAIGN, IL 618228933

Pension Consulting

$6,024

JOHN HANCOCK LIFE INSURANCE COMPANY6+ years

Service code 15 · EIN 01-0233346

Recordkeeping

$170

HOPEDALE MEDICAL FOUNDATION 401(K) CASH DEFERRED PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HOPEDALE MEDICAL FOUNDATION 401(K) CASH DEFERRED PROFIT SHARING 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