Retirement plan

LUTHER MEMORIAL HOME 401K PLAN

Name: LUTHER MEMORIAL HOME - LUTHER MEMORIAL HOME 401K PLAN (2021) Form 5500
Creator: LUTHER MEMORIAL HOME
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LUTHER MEMORIAL HOME 401K PLAN, LUTHER MEMORIAL HOME

LUTHER MEMORIAL HOMEEIN 45-0261669Plan #002PY 2021

750 MAIN ST E - MAYVILLE, ND 582571606701-786-3401LinkedIn1-10 employeeshospital & health care

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$6.2M

+12.3% from 2020

Total participants

156

+7.6% from 2020

Average account balance

$40,967

+4.1% from 2020

Annual return

12.41%

-1.74 pp from 2020

Benchmarks

See 5,351 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,351 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.50M

Not enough data

1 years with asset history on file

Average account balance

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

$30K

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.

151

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.

83.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$311K

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

+10.65%

Not enough data

1 years with return on file

Admin fee / account holder

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

$214

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
ALERUS FINANCIAL, N.A.7+ years Filed as: ALERUS FINANCIAL Service code 21 · EIN 45-0140105 401 DEMERS AVE. · GRAND FORKS, ND 58201	Bank Trustee	$24,434

Plan features & details

Pension benefit codes2E2F2G2J3D

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.
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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$24K

$235 / participant

Other / not subdivided$24K100.0%

% of EOY assets

0.395%

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: BRADY MARTZ & ASSOCIATES, P.C.
Auditor EIN: 450310328
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$40,967

$61,166-33.0%

$185,837-78.0%

$79,393-48.4%

Participation rate

95.2%

66.6%+28.6pp

81.7%+13.5pp

70.7%+24.5pp

Annual return

12.41%

19.45%-7.0pp

122.08%-109.7pp

116.87%-104.5pp

Employer contribution / active EE

$1,477

$2,321-36.4%

$5,168-71.4%

$2,428-39.2%

Participant deferral / active EE

$1,959

$2,789-29.8%

$5,568-64.8%

$4,046-51.6%

Admin fee / account holder

$162

$710-77.2%

$16,241-99.0%

$627-74.2%

Provider

Service type

Compensation

ALERUS FINANCIAL, N.A.7+ years

Filed as: ALERUS FINANCIAL

Service code 21 · EIN 45-0140105

401 DEMERS AVE. · GRAND FORKS, ND 58201

Bank Trustee

$24,434

LUTHER MEMORIAL HOME 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LUTHER MEMORIAL HOME 401K 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