Retirement plan

SHENANDOAH MEDICAL CENTER 403B PLAN

Name: SHENANDOAH MEDICAL CENTER - SHENANDOAH MEDICAL CENTER 403B PLAN (2023) Form 5500
Creator: SHENANDOAH MEDICAL CENTER
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SHENANDOAH MEDICAL CENTER 403B PLAN, SHENANDOAH MEDICAL CENTER

SHENANDOAH MEDICAL CENTEREIN 42-1101835Plan #003PY 2023

300 PERSHING AVENUE - SHENANDOAH, IA 516012335712-246-1230smchospital.comLinkedIn201-500 employeeshospital & health care

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$18.9M

+21.2% from 2022

Total participants

415

+0.2% from 2022

Average account balance

$50,358

+20.8% from 2022

Annual return

18.54%

+33.22 pp from 2022

Benchmarks

See 4,038 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort4,038 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$20.97M

Not enough data

1 years with asset history on file

Average account balance

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

$52K

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.

402

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.

87.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.30M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+13.48%

Not enough data

1 years with return on file

Admin fee / account holder

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

$136

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 3 by compensation

Provider	Service type	Compensation
NATIONWIDE9+ years Service code 15 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215	Recordkeeping	$56,976
WEALTHPLAN PARTNERS INC5 years Filed as: WEALTHPLAN PARTNERS, INC. Service code 27 101 S 108TH AVE, 2ND FLOOR · OMAHA, NE 68154	Advisory (Plan)	$43,166
BENEFIT PLANS ADMIN SERVICES, INC.9+ years Filed as: BENEFIT PLANS, INC Service code 15 16924 FRANCES STREET SUITE 100 · OMAHA, NE 68130	Recordkeeping	$26,567

Plan features & details

Pension benefit codes2K2L2F2S2T

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).
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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$127K

$391 / participant

Recordkeeping$74K58.7%
Investment mgmt$43K34.1%
Contract admin$9K7.2%

% of EOY assets

0.671%

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: EIDE BAILLY LLP
Auditor EIN: 450250958
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$50,358

$47,163+6.8%

$149,696-66.4%

$74,460-32.4%

Participation rate

87.7%

63.4%+24.2pp

78.8%+8.9pp

70.7%+16.9pp

Annual return

18.54%

22.75%-4.2pp

134.46%-115.9pp

34.38%-15.8pp

Employer contribution / active EE

$2,404

$1,907+26.1%

$4,821-50.1%

$2,638-8.9%

Participant deferral / active EE

$4,415

$2,730+61.7%

$5,682-22.3%

$4,530-2.5%

Admin fee / account holder

$338

$343-1.5%

$13,212-97.4%

$348-2.8%

Provider

Service type

Compensation

NATIONWIDE9+ years

Service code 15

ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215

Recordkeeping

$56,976

WEALTHPLAN PARTNERS INC5 years

Filed as: WEALTHPLAN PARTNERS, INC.

Service code 27

101 S 108TH AVE, 2ND FLOOR · OMAHA, NE 68154

Advisory (Plan)

$43,166

BENEFIT PLANS ADMIN SERVICES, INC.9+ years

Filed as: BENEFIT PLANS, INC

Service code 15

16924 FRANCES STREET SUITE 100 · OMAHA, NE 68130

Recordkeeping

$26,567

SHENANDOAH MEDICAL CENTER 403B PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SHENANDOAH MEDICAL CENTER 403B 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