Retirement plan

HOMEWARD BOUND, INC. 403(B) RETIREMENT SAVINGS PLAN

Name: HOMEWARD BOUND, INC. - HOMEWARD BOUND, INC. 403(B) RETIREMENT SAVINGS PLAN (2020) Form 5500
Creator: HOMEWARD BOUND, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HOMEWARD BOUND, INC. 403(B) RETIREMENT SAVINGS PLAN, HOMEWARD BOUND, INC.

HOMEWARD BOUND, INC.EIN 41-1223085Plan #001PY 2020

12805 HIGHWAY 55 SUITE 400 - PLYMOUTH, MN 554413868763-746-4810hbimn.orgLinkedIn201-500 employeeshospital & health care

Prospect flagsLow participant contribution

How to read this page

Total assets (EOY)

$9.7M

+12.9% from 2019

Total participants

383

+4.9% from 2019

Average account balance

$28,235

+7.6% from 2019

Annual return

17.20%

+2.23 pp from 2019

Benchmarks

See 3,872 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort3,872 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.96M

Not enough data

1 years with asset history on file

Average account balance

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

$23K

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.

398

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.

93.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.13M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+9.49%

Not enough data

1 years with return on file

Admin fee / account holder

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

$186

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
BENEFIT PLANS ADMIN SERVICES, INC.6+ years Filed as: BENEFIT PLANS ADMIN SERVICES, INC Service code 15 · EIN 16-1503696	Recordkeeping	$59,408
VALIC RETIREMENT SERVICES COMPANY6+ years Filed as: VARIABLE ANNUITY LIFE INSURANCE CO. Service code 19 · EIN 74-1625348	Securities Custodian	$2,340

Plan features & details

Pension benefit codes2L2K2F2G2T

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.
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.
2L
Code section 403(b)(1) arrangement
Plan uses a Code section 403(b)(1) annuity contract 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.

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

$64K

$200 / participant

Investment mgmt$31K47.8%
Contract admin$29K44.8%
Other / not subdivided$5K7.3%

% of EOY assets

0.663%

all-in expense ratio

Categories reported

2 / 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: CLIFTONLARSONALLEN LLP
Auditor EIN: 410746749
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$28,235

$52,293-46.0%

$178,503-84.2%

$73,412-61.5%

Participation rate

87.9%

65.3%+22.5pp

81.9%+5.9pp

72.2%+15.7pp

Annual return

17.20%

34.75%-17.6pp

151.12%-133.9pp

59.30%-42.1pp

Employer contribution / active EE

$1,736-100.0%

$5,011-100.0%

$2,234-100.0%

Participant deferral / active EE

$690

$2,333-70.4%

$5,202-86.7%

$3,806-81.9%

Admin fee / account holder

$187

$127+46.9%

$13,987-98.7%

$158+18.5%

Provider

Service type

Compensation

BENEFIT PLANS ADMIN SERVICES, INC.6+ years

Filed as: BENEFIT PLANS ADMIN SERVICES, INC

Service code 15 · EIN 16-1503696

Recordkeeping

$59,408

VALIC RETIREMENT SERVICES COMPANY6+ years

Filed as: VARIABLE ANNUITY LIFE INSURANCE CO.

Service code 19 · EIN 74-1625348

Securities Custodian

$2,340

HOMEWARD BOUND, INC. 403(B) RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HOMEWARD BOUND, INC. 403(B) RETIREMENT 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