Retirement plan

HEARTS FOR HEARING FOUNDATION 401(K)

Name: HEARTS FOR HEARING FOUNDATION - HEARTS FOR HEARING FOUNDATION 401(K) (2023) Form 5500
Creator: HEARTS FOR HEARING FOUNDATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HEARTS FOR HEARING FOUNDATION 401(K), HEARTS FOR HEARING FOUNDATION

HEARTS FOR HEARING FOUNDATIONEIN 41-2043960Plan #001PY 2023

11500 N PORTLAND AVENUE - OKLAHOMA CITY, OK 73120405-548-4300LinkedIn11-50 employeesmedical practice

Prospect flagsLow fidelity bondFailed to transmit contributions

How to read this page

Total assets (EOY)

$4.2M

+19.8% from 2022

Total participants

143

+14.4% from 2022

Average account balance

$31,093

+6.5% from 2022

Annual return

13.56%

+29.63 pp from 2022

Benchmarks

See 5,708 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,708 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.16M

Not enough data

1 years with asset history on file

Average account balance

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

$25K

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.

204

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$633K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+14.28%

Not enough data

1 years with return on file

Admin fee / account holder

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

$55

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
ASCENSUS LLC1 year Service code 15 · EIN 11-3665754	Recordkeeping	$1,320

Plan features & details

Pension benefit codes2E3D2G2J2F2T

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.

Opportunity flags

2 tripped

ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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

$1K

$11 / participant

Contract admin$1K100.0%

% of EOY assets

0.031%

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: FORVIS MAZARS, LLP
Auditor EIN: 440160260
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$31,093

$61,356-49.3%

$149,696-79.2%

$71,511-56.5%

Participation rate

93.4%

62.5%+30.9pp

78.8%+14.6pp

67.9%+25.5pp

Annual return

13.56%

35.86%-22.3pp

134.46%-120.9pp

28.86%-15.3pp

Employer contribution / active EE

$1,623

$2,382-31.9%

$4,821-66.3%

$2,589-37.3%

Participant deferral / active EE

$2,620

$2,920-10.3%

$5,682-53.9%

$4,291-38.9%

Admin fee / account holder

$10

$1,263-99.2%

$13,212-99.9%

$1,588-99.4%

Provider

Service type

Compensation

ASCENSUS LLC1 year

Service code 15 · EIN 11-3665754

Recordkeeping

$1,320

HEARTS FOR HEARING FOUNDATION 401(K)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HEARTS FOR HEARING FOUNDATION 401(K)

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