Retirement plan

MEMORIAL RETIREMENT PLAN

Name: MEMORIAL HEALTHCARE - MEMORIAL RETIREMENT PLAN (2023) Form 5500
Creator: MEMORIAL HEALTHCARE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MEMORIAL RETIREMENT PLAN, MEMORIAL HEALTHCARE

MEMORIAL HEALTHCAREEIN 38-1358208Plan #002PY 2023

826 W. KING STREET - OWOSSO, MI 488672120989-723-5211memorialhealthcare.orgLinkedIn1001-5000 employeeshospital & health care

Prospect flagsNo flags tripped

Top hat statement on fileNQDC

Filed September 18, 2023

Plan administrator

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826 W. King Street

Owosso, MI 48867

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Plans declared (1)

Memorial Healthcare Deferred Compensation Plan12 emp

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Total assets (EOY)

$99.5M

+20.8% from 2022

Total participants

2,079

-2.0% from 2022

Average account balance

$49,033

+22.8% from 2022

Annual return

20.40%

+36.82 pp from 2022

Benchmarks

See 1,406 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants1,000-4,999

Cohort1,406 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$115.09M

Not enough data

1 years with asset history on file

Average account balance

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

$51K

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.

2,270

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.

94.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$9.33M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+15.66%

Not enough data

1 years with return on file

Admin fee / account holder

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

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

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
CAPFINANCIAL PARTNERS LLC3 years Service code 27 · EIN 26-0058143	Advisory (Plan)	$54,917
STRATEGIC ADVISORS, INC.9+ years Service code 27 · EIN 04-2654524	Advisory (Plan)	$29,894
FIDELITY INVESTMENTS INSTITUTIONAL9+ years Service code 37 · EIN 04-2647786	Loan Processing	-$68,612

Plan features & details

Pension benefit codes2E2G2J2S2T3D

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

$16K

$11 / participant

Investment mgmt$85K523.6%
Contract admin$3001.9%

% of EOY assets

0.016%

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: BAKER TILLY US, LLP
Auditor EIN: 301413443
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$49,033

$50,151-2.2%

$149,696-67.2%

$80,157-38.8%

Participation rate

96.6%

64.3%+32.3pp

78.8%+17.8pp

72.9%+23.7pp

Annual return

20.40%

29.80%-9.4pp

134.46%-114.1pp

40.39%-20.0pp

Employer contribution / active EE

$1,057

$1,867-43.4%

$4,821-78.1%

$2,977-64.5%

Participant deferral / active EE

$4,127

$3,194+29.2%

$5,682-27.4%

$5,015-17.7%

Admin fee / account holder

$153-94.8%

$13,212-99.9%

$145-94.5%

Provider

Service type

Compensation

CAPFINANCIAL PARTNERS LLC3 years

Service code 27 · EIN 26-0058143

Advisory (Plan)

$54,917

STRATEGIC ADVISORS, INC.9+ years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$29,894

FIDELITY INVESTMENTS INSTITUTIONAL9+ years

Service code 37 · EIN 04-2647786

Loan Processing

-$68,612

MEMORIAL RETIREMENT PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MEMORIAL RETIREMENT PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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