Retirement plan

CIENA HEALTHCARE MANAGEMENT, INC. 401(K) PLAN

Name: CIENA HEALTHCARE MANAGEMENT, INC. - CIENA HEALTHCARE MANAGEMENT, INC. 401(K) PLAN (2024) Form 5500
Creator: CIENA HEALTHCARE MANAGEMENT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CIENA HEALTHCARE MANAGEMENT, INC. 401(K) PLAN, CIENA HEALTHCARE MANAGEMENT, INC.

CIENA HEALTHCARE MANAGEMENT, INC.EIN 38-3439639Plan #001PY 2024

4000 TOWN CENTER, SUITE 2000 - SOUTHFIELD, MI 48075248-386-0300LinkedIn1-10 employeeshospital & health care

Prospect flagsLow returnsLow participationLow employer contributionLow participant contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$125.8M

+11.0% from 2023

Total participants

19,510

+32.8% from 2023

Average account balance

$36,991

-1.6% from 2023

Annual return

12.78%

-8.69 pp from 2023

Benchmarks

See 275 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants>=10,000

Cohort275 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$125.81M

Not enough data

1 years with asset history on file

Average account balance

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

$37K

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.

3,401

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.

12.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$16.09M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$872

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

+12.78%

Not enough data

1 years with return on file

Admin fee / account holder

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

$234

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 5 by compensation

Provider	Service type	Compensation
AMERICAN REALTY ADVISORS4 years Filed as: NORTH AMERICAN PENSION SERVICES LLC Service code 16 2542 S ROCHESTER RD · ROCHESTER HILLS, MI 48307	Consulting	$181,748
USI CONSULTING GROUP2 years Service code 16 ONE SEAGATE · TOLEDO, OH 43604	Consulting	$132,000
GREGORY J SCHWARTZ & COMPANY INC2 years Filed as: GREGORY J SCHWARTZ & CO., INC Service code 27 3707 WEST MAPLE · BLOOMFIELD HILLS, MI 48301	Advisory (Plan)	$55,287
USI CONSULTING GROUP4 years Filed as: USI ADVISORS INC Service code 27 95 GLASTONBURY BLVD · GLASTONBURY, CT 06033	Advisory (Plan)	$52,905
T ROWE PRICE RPS INC4 years Service code 15 1307 POINT STREET · BALTIMORE, MD 21231	Recordkeeping	$37,520

Plan features & details

Pension benefit codes2E2G2J2K2T

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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.

Opportunity flags

6 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
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

$795K

$43 / participant

Recordkeeping$38K4.7%
Investment mgmt$108K13.6%
Other trustee fees$336K42.2%
Other / not subdivided$314K39.5%

% of EOY assets

0.632%

all-in expense ratio

Categories reported

3 / 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: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$36,991

$73,283-49.5%

$155,556-76.2%

$106,553-65.3%

Participation rate

12.7%

73.3%-60.6pp

78.2%-65.5pp

69.8%-57.1pp

Annual return

12.78%

15.76%-3.0pp

64.84%-52.1pp

17.37%-4.6pp

Employer contribution / active EE

$291

$2,241-87.0%

$4,675-93.8%

$3,359-91.3%

Participant deferral / active EE

$581

$4,567-87.3%

$5,631-89.7%

$5,562-89.6%

Admin fee / account holder

$234

$56+318.2%

$15,885-98.5%

$80+193.5%

Provider

Service type

Compensation

AMERICAN REALTY ADVISORS4 years

Filed as: NORTH AMERICAN PENSION SERVICES LLC

Service code 16

2542 S ROCHESTER RD · ROCHESTER HILLS, MI 48307

Consulting

$181,748

USI CONSULTING GROUP2 years

Service code 16

ONE SEAGATE · TOLEDO, OH 43604

Consulting

$132,000

GREGORY J SCHWARTZ & COMPANY INC2 years

Filed as: GREGORY J SCHWARTZ & CO., INC

Service code 27

3707 WEST MAPLE · BLOOMFIELD HILLS, MI 48301

Advisory (Plan)

$55,287

USI CONSULTING GROUP4 years

Filed as: USI ADVISORS INC

Service code 27

95 GLASTONBURY BLVD · GLASTONBURY, CT 06033

Advisory (Plan)

$52,905

T ROWE PRICE RPS INC4 years

Service code 15

1307 POINT STREET · BALTIMORE, MD 21231

Recordkeeping

$37,520

CIENA HEALTHCARE MANAGEMENT, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CIENA HEALTHCARE MANAGEMENT, INC. 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