Retirement plan

MIDMICHIGAN HEALTH SERVICES EMPLOYEES SAVINGS PLAN

Name: MID MICHIGAN HEALTH SERVICES DBA MIDMICHIGAN COMMUNITY HEALTH SERVICES - MIDMICHIGAN HEALTH SERVICES EMPLOYEES SAVINGS PLAN (2020) Form 5500
Creator: MID MICHIGAN HEALTH SERVICES DBA MIDMICHIGAN COMMUNITY HEALTH SERVICES
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MIDMICHIGAN HEALTH SERVICES EMPLOYEES SAVINGS PLAN, MID MICHIGAN HEALTH SERVICES DBA MIDMICHIGAN COMMUNITY HEALTH SERVICES

MID MICHIGAN HEALTH SERVICES DBA MIDMICHIGAN COMMUNITY HEALTH SERVICESEIN 38-2168007Plan #001PY 2020

9249 W LAKE CITY RD - HOUGHTON LAKE, MI 486299602989-422-5122LinkedIn51-200 employeescivic & social organization

Prospect flagsHigh feesRecently reached 100 employeesLow fidelity bond

How to read this page

Total assets (EOY)

$4.1M

+43.6% from 2019

Total participants

111

+5.7% from 2019

Average account balance

$39,510

+32.4% from 2019

Annual return

23.44%

+2.09 pp from 2019

Benchmarks

See 1,687 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants100-249

Cohort1,687 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.93M

Not enough data

1 years with asset history on file

Average account balance

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

$60K

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.

132

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.

97.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.01M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+13.43%

Not enough data

1 years with return on file

Admin fee / account holder

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

$137

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

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 codes2F2G2L2M2S2T3D

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.
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

3 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).
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$123K

$1217 / participant

Other / not subdivided$123K100.0%

% of EOY assets

3.021%

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

$39,510

$66,124-40.2%

$90,440-56.3%

$73,493-46.2%

Participation rate

92.1%

69.7%+22.4pp

72.7%+19.4pp

70.7%+21.4pp

Annual return

23.44%

17.65%+5.8pp

1294.38%-1270.9pp

28.51%-5.1pp

Employer contribution / active EE

$2,508

$2,346+6.9%

$3,263-23.1%

$2,270+10.5%

Participant deferral / active EE

$4,355

$3,039+43.3%

$3,964+9.9%

$3,740+16.4%

Admin fee / account holder

$1,194

$396+201.3%

$5,615-78.7%

$513+132.7%

MIDMICHIGAN HEALTH SERVICES EMPLOYEES SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MIDMICHIGAN HEALTH SERVICES EMPLOYEES SAVINGS 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