Retirement plan

OPEN DOOR CENTER 401(K) PROFIT SHARING PLAN

Name: OPEN DOOR CENTER - OPEN DOOR CENTER 401(K) PROFIT SHARING PLAN (2022) Form 5500
Creator: OPEN DOOR CENTER
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, OPEN DOOR CENTER 401(K) PROFIT SHARING PLAN, OPEN DOOR CENTER

OPEN DOOR CENTEREIN 45-0277603Plan #002PY 2022

129 3RD AVENUE NORTHEAST - VALLEY CITY, ND 58072701-845-1124odcvc.comLinkedIn201-500 employeesmedical practice

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$19.8M

-14.9% from 2021

Total participants

245

-4.7% from 2021

Average account balance

$103,834

-11.8% from 2021

Annual return

-12.70%

-39.09 pp from 2021

Benchmarks

See 1,742 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants100-249

Cohort1,742 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$22.77M

Not enough data

1 years with asset history on file

Average account balance

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

$132K

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.

173

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.

72.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$696K

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

+10.92%

Not enough data

1 years with return on file

Admin fee / account holder

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

$310

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
BELL BANK6 years Service code 15 · EIN 45-0283315	Recordkeeping	$64,238

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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

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

$64K

$310 / participant

Contract admin$64K100.0%

% of EOY assets

0.324%

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$103,834

$51,226+102.7%

$82,744+25.5%

$66,938+55.1%

Participation rate

73.9%

67.9%+6.0pp

72.6%+1.4pp

69.8%+4.1pp

Annual return

-12.70%

-9.61%-3.1pp

702.22%-714.9pp

1.58%-14.3pp

Employer contribution / active EE

$4,675

$2,612+79.0%

$3,008+55.4%

$2,545+83.7%

Participant deferral / active EE

$1,354

$3,460-60.9%

$4,395-69.2%

$4,238-68.0%

Admin fee / account holder

$336

$416-19.1%

$5,325-93.7%

$594-43.3%

Provider

Service type

Compensation

BELL BANK6 years

Service code 15 · EIN 45-0283315

Recordkeeping

$64,238

OPEN DOOR CENTER 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

OPEN DOOR CENTER 401(K) PROFIT SHARING 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