Retirement plan

FAMILY SERVICE ROCHESTER INC. SAFE HARBOR 403(B) PLAN

Name: FAMILY SERVICE ROCHESTER, INC. - FAMILY SERVICE ROCHESTER INC. SAFE HARBOR 403(B) PLAN (2024) Form 5500
Creator: FAMILY SERVICE ROCHESTER, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FAMILY SERVICE ROCHESTER INC. SAFE HARBOR 403(B) PLAN, FAMILY SERVICE ROCHESTER, INC.

FAMILY SERVICE ROCHESTER, INC.EIN 41-0883453Plan #002PY 2024

4600 18TH AVENUE NE - ROCHESTER, MN 55901507-287-2040familyservicerochester.orgLinkedIn51-200 employeesindividual & family services

Prospect flagsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$8.8M

+14.3% from 2023

Total participants

240

+29.0% from 2023

Average account balance

$66,873

+21.2% from 2023

Annual return

15.38%

-2.24 pp from 2023

Benchmarks

See 5,993 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,993 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.83M

Not enough data

1 years with asset history on file

Average account balance

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

$67K

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.

36.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$473K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+15.38%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 1 by compensation

Provider	Service type	Compensation
MUTUAL OF AMERICA INVESTMENT CORP3 years Service code 12 320 PARK AVENUE · NEW YORK, NY 10022	Participant loan processing; Claims p...	$689

Plan features & details

Pension benefit codes2G3D2J2K

Plan features

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.
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

2 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).

Expense breakdown

Schedule H Part II

Admin total

$585

$3 / participant

Other / not subdivided$585100.0%

% of EOY assets

0.007%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: SMITH SCHAFER & ASSOCIATES, LTD.
Auditor EIN: 411489071
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$66,873

$55,470+20.6%

$155,556-57.0%

$74,478-10.2%

Participation rate

36.8%

61.9%-25.1pp

78.2%-41.4pp

67.2%-30.4pp

Annual return

15.38%

269.80%-254.4pp

64.84%-49.5pp

1370.56%-1355.2pp

Employer contribution / active EE

$972

$2,267-57.1%

$4,675-79.2%

$2,626-63.0%

Participant deferral / active EE

$1,792

$2,838-36.8%

$5,631-68.2%

$4,350-58.8%

Admin fee / account holder

$1,744-99.7%

$15,885-100.0%

$1,946-99.8%

Provider

Service type

Compensation

MUTUAL OF AMERICA INVESTMENT CORP3 years

Service code 12

320 PARK AVENUE · NEW YORK, NY 10022

Participant loan processing; Claims p...

$689

FAMILY SERVICE ROCHESTER INC. SAFE HARBOR 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FAMILY SERVICE ROCHESTER INC. SAFE HARBOR 403(B) 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