Retirement plan

WELLSPRING LUTHERAN SERVICES 403(B) RETIREMENT PLAN

Name: LUTHERAN HOMES OF MICHIGAN, INC - WELLSPRING LUTHERAN SERVICES 403(B) RETIREMENT PLAN (2016) 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 2016

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)

$12M

+12.1% from 2015

Total participants

944

-1.0% from 2015

Average account balance

$23,669

+8.1% from 2015

Annual return

10.23%

+10.79 pp from 2015

Benchmarks

See 3,733 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort3,733 peers

Snapshot2016

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 10 of 13 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.2+ years Filed as: MASSACHUSETTS MUTUAL LIFE INS CO Service code 52 · EIN 04-1590850	Indirect Investment Fees	$46,490
MASSACHUSETTS MUTUAL LIFE INS. CO.2+ years Filed as: MML INVESTORS SERVICES INC Service code 53 · EIN 04-2746212	Insurance Commissions	$41,655
MIDWEST PENSION & PROFIT SHARING SE2+ years Filed as: THE MIDWEST PENSION GROUP Service code 13 · EIN 38-2781642	Contract Administrator	$11,989
THE MICHIGAN PENSION GROUP, INC.2+ years Filed as: THE MICHIGAN PENSION GROUP Service code 13	Contract Administrator	$4,210
JEFFREY SLOCUM & ASSOCIATES1 year Filed as: JEFFREY SNIDER Service code 56	Non-monetary compensation	$365
E CRAIG YOUNG1 year Filed as: CRAIG MILLER Service code 56	Non-monetary compensation	$55
BARBARA GILL2+ years Service code 53 19968 TONTOGANY CREEK RD · BOWLING GREEN, OH 43402	Insurance Commissions	$40
E CRAIG YOUNG2+ years Filed as: CRAIG L MILLER Service code 53 924 CENTENNIAL WAY STE 480 · LANSING, MI 48917	Insurance Commissions	$0
ENVESTNET RETIREMENT SOLUTIONS, LLC1 year Filed as: ENVESTNET RETIREMENT SOLUTIONS LLC Service code 27	Advisory (Plan)	$0
ENVESTNET RETIREMENT SOLUTIONS, LLC1 year Service code 27 · EIN 61-1732930	Advisory (Plan)	$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

$48K

$67 / participant

Contract admin$48K98.7%
Other / not subdivided$6171.3%

% of EOY assets

0.402%

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

$23,669

$36,916-35.9%

$156,551-84.9%

$57,658-58.9%

Participation rate

39.3%

63.4%-24.2pp

84.0%-44.7pp

70.2%-31.0pp

Annual return

10.23%

12.38%-2.2pp

32.23%-22.0pp

5.13%+5.1pp

Employer contribution / active EE

$491

$1,571-68.7%

$5,501-91.1%

$1,974-75.1%

Participant deferral / active EE

$1,012

$1,926-47.4%

$4,871-79.2%

$3,061-66.9%

Admin fee / account holder

$95

$82+15.4%

$13,028-99.3%

$95+0.7%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.2+ years

Filed as: MASSACHUSETTS MUTUAL LIFE INS CO

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$46,490

MASSACHUSETTS MUTUAL LIFE INS. CO.2+ years

Filed as: MML INVESTORS SERVICES INC

Service code 53 · EIN 04-2746212

Insurance Commissions

$41,655

MIDWEST PENSION & PROFIT SHARING SE2+ years

Filed as: THE MIDWEST PENSION GROUP

Service code 13 · EIN 38-2781642

Contract Administrator

$11,989

THE MICHIGAN PENSION GROUP, INC.2+ years

Filed as: THE MICHIGAN PENSION GROUP

Service code 13

Contract Administrator

$4,210

JEFFREY SLOCUM & ASSOCIATES1 year

Filed as: JEFFREY SNIDER

Service code 56

Non-monetary compensation

$365

E CRAIG YOUNG1 year

Filed as: CRAIG MILLER

Service code 56

Non-monetary compensation

$55

BARBARA GILL2+ years

Service code 53

19968 TONTOGANY CREEK RD · BOWLING GREEN, OH 43402

Insurance Commissions

$40

E CRAIG YOUNG2+ years

Filed as: CRAIG L MILLER

Service code 53

924 CENTENNIAL WAY STE 480 · LANSING, MI 48917

Insurance Commissions

ENVESTNET RETIREMENT SOLUTIONS, LLC1 year

Filed as: ENVESTNET RETIREMENT SOLUTIONS LLC

Service code 27

Advisory (Plan)

ENVESTNET RETIREMENT SOLUTIONS, LLC1 year

Service code 27 · EIN 61-1732930

Advisory (Plan)

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