Retirement plan

SPARROW HEALTH SYSTEM AFFILIATE 401(K) PLAN

Name: SPARROW DEVELOPMENT, INC. - SPARROW HEALTH SYSTEM AFFILIATE 401(K) PLAN (2023) Form 5500
Creator: SPARROW DEVELOPMENT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SPARROW HEALTH SYSTEM AFFILIATE 401(K) PLAN, SPARROW DEVELOPMENT, INC.

SPARROW DEVELOPMENT, INC.EIN 38-2595963Plan #002PY 2023

1200 EAST MICHIGAN AVE, STE 235 - LANSING, MI 48912517-364-5333sparrowdev.comLinkedIn1-10 employeescomputer software

Prospect flagsLow participant contribution

How to read this page

Total assets (EOY)

$6.1M

+11.7% from 2022

Total participants

137

+9.6% from 2022

Average account balance

$53,713

+23.6% from 2022

Annual return

21.33%

+41.18 pp from 2022

Benchmarks

See 5,703 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,703 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.08M

Not enough data

1 years with asset history on file

Average account balance

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

$56K

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.

109

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.

25.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$43K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$134

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

+14.60%

Not enough data

1 years with return on file

Admin fee / account holder

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

$76

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
TRANSAMERICA RETIREMENT SOLUTIONS9+ years Service code 12 · EIN 13-3689044	Recordkeeping and information managem...	$8,521
NATIONAL FINANCIAL SERVICES9+ years Service code 33 · EIN 04-3523567	Securities brokerage commissions and ...	$0

Plan features & details

Pension benefit codes2F2G2J2T3D3H

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.
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.
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

1 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$9K

$82 / participant

Recordkeeping$9K100.0%

% of EOY assets

0.140%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: ANDREWS HOOPER PAVLIK PLC
Auditor EIN: 383133790
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$53,713

$61,391-12.5%

$149,723-64.1%

$71,529-24.9%

Participation rate

76.9%

62.5%+14.4pp

78.8%-1.9pp

67.9%+9.0pp

Annual return

21.33%

35.88%-14.5pp

134.50%-113.2pp

28.97%-7.6pp

Employer contribution / active EE

$2,384-100.0%

$4,821-100.0%

$2,590-100.0%

Participant deferral / active EE

$185

$2,921-93.7%

$5,682-96.7%

$4,291-95.7%

Admin fee / account holder

$75

$1,264-94.0%

$13,215-99.4%

$1,588-95.3%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS9+ years

Service code 12 · EIN 13-3689044

Recordkeeping and information managem...

$8,521

NATIONAL FINANCIAL SERVICES9+ years

Service code 33 · EIN 04-3523567

Securities brokerage commissions and ...

SPARROW HEALTH SYSTEM AFFILIATE 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SPARROW HEALTH SYSTEM AFFILIATE 401(K) 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