Retirement plan

WELLSPRING LUTHERAN SERVICES 403(B) RETIREMENT PLAN

Name: LUTHERAN HOMES OF MICHIGAN, INC - WELLSPRING LUTHERAN SERVICES 403(B) RETIREMENT PLAN (2015) Form 5500
Creator: LUTHERAN HOMES OF MICHIGAN, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WELLSPRING LUTHERAN SERVICES 403(B) RETIREMENT PLAN, LUTHERAN HOMES OF MICHIGAN, INC

LUTHERAN HOMES OF MICHIGAN, INCdba DBA WELLSPRING LUTHERAN SERVICESEIN 38-1358410Plan #003PY 2015

4100 PIER NORTH BOULEVARD STE A - FLINT, MI 48504989-652-3470

Prospect flagsLow participationFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$10.7M

No prior year

Total participants

954

No prior year

Average account balance

$21,890

No prior year

Annual return

-0.56%

No prior year

Benchmarks

See 3,168 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort3,168 peers

Snapshot2015

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

Analytics

Total assets (EOY)

Plan-year ending balance

$15.56M

Not enough data

1 years with asset history on file

Average account balance

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

$43K

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.

363

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.

28.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$671K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+12.98%

Not enough data

1 years with return on file

Admin fee / account holder

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

$136

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 9 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.1+ years Filed as: MASSACHUSETTS MUTUAL LIFE INS CO Service code 52 · EIN 04-1590850	Indirect Investment Fees	$44,556
MASSACHUSETTS MUTUAL LIFE INS. CO.1+ years Filed as: MML INVESTORS SERVICES INC Service code 53 · EIN 04-2746212	Insurance Commissions	$39,128
THE MICHIGAN PENSION GROUP, INC.1+ years Filed as: THE MICHIGAN PENSION GROUP Service code 13	Contract Administrator	$8,145
MIDWEST PENSION & PROFIT SHARING SE1+ years Filed as: THE MIDWEST PENSION GROUP Service code 13 · EIN 38-2781642	Contract Administrator	$7,504
BARBARA GILL1+ years Service code 53 19968 TONTOGANY CREEK RD · BOWLING GREEN, OH 43402	Insurance Commissions	$0
E CRAIG YOUNG1+ years Filed as: CRAIG L MILLER Service code 53 924 CENTENNIAL WAY STE 480 · LANSING, MI 48917	Insurance Commissions	$0
JEFFREY SLOCUM & ASSOCIATES1+ years Filed as: JEFFREY J SNIDER Service code 53 5141 GATEWAY CTR STE 400 · FLINT, MI 48507	Insurance Commissions	$0
MASSACHUSETTS MUTUAL LIFE INS. CO.1+ years Filed as: MASSACHUSETTS MUTUAL LIFE INS CO. Service code 60	Sub-TA Fees	$0
THE MICHIGAN PENSION GROUP, INC.1+ years Service code 13 · EIN 38-2781642	Contract Administrator	$0

Plan features & details

Pension benefit codes2F2G2L2M2T3H

Plan features

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.
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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$46K

$62 / participant

Contract admin$46K100.0%

% of EOY assets

0.428%

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: PLANTE & MORAN PLLC
Auditor EIN: 381357951
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$21,890

$37,117-41.0%

$147,618-85.2%

$55,191-60.3%

Participation rate

37.6%

63.6%-26.1pp

84.6%-47.1pp

69.2%-31.6pp

Annual return

-0.56%

3.44%-4.0pp

61.98%-62.5pp

10.78%-11.3pp

Employer contribution / active EE

$433

$1,620-73.3%

$5,565-92.2%

$1,899-77.2%

Participant deferral / active EE

$900

$1,985-54.7%

$4,895-81.6%

$3,046-70.5%

Admin fee / account holder

$94

$86+9.5%

$11,612-99.2%

$91+3.2%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.1+ years

Filed as: MASSACHUSETTS MUTUAL LIFE INS CO

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$44,556

MASSACHUSETTS MUTUAL LIFE INS. CO.1+ years

Filed as: MML INVESTORS SERVICES INC

Service code 53 · EIN 04-2746212

Insurance Commissions

$39,128

THE MICHIGAN PENSION GROUP, INC.1+ years

Filed as: THE MICHIGAN PENSION GROUP

Service code 13

Contract Administrator

$8,145

MIDWEST PENSION & PROFIT SHARING SE1+ years

Filed as: THE MIDWEST PENSION GROUP

Service code 13 · EIN 38-2781642

Contract Administrator

$7,504

BARBARA GILL1+ years

Service code 53

19968 TONTOGANY CREEK RD · BOWLING GREEN, OH 43402

Insurance Commissions

E CRAIG YOUNG1+ years

Filed as: CRAIG L MILLER

Service code 53

924 CENTENNIAL WAY STE 480 · LANSING, MI 48917

Insurance Commissions

JEFFREY SLOCUM & ASSOCIATES1+ years

Filed as: JEFFREY J SNIDER

Service code 53

5141 GATEWAY CTR STE 400 · FLINT, MI 48507

Insurance Commissions

MASSACHUSETTS MUTUAL LIFE INS. CO.1+ years

Filed as: MASSACHUSETTS MUTUAL LIFE INS CO.

Service code 60

Sub-TA Fees

THE MICHIGAN PENSION GROUP, INC.1+ years

Service code 13 · EIN 38-2781642

Contract Administrator

WELLSPRING LUTHERAN SERVICES 403(B) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WELLSPRING LUTHERAN SERVICES 403(B) 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