Retirement plan

BOSTON CENTER FOR MEMORY, INC. PROFIT SHARING AND 401K PLAN

Name: BOSTON CENTER FOR MEMORY, INC. - BOSTON CENTER FOR MEMORY, INC. PROFIT SHARING AND 401K PLAN (2024) Form 5500
Creator: BOSTON CENTER FOR MEMORY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BOSTON CENTER FOR MEMORY, INC. PROFIT SHARING AND 401K PLAN, BOSTON CENTER FOR MEMORY, INC.

BOSTON CENTER FOR MEMORY, INC.EIN 45-4579186Plan #001PY 2024

180 WELLS AVENUE - NEWTON, MA 02459802-447-1409bostonmemory.comLinkedIn11-50 employeesmedical practice

Other plans on this EIN

1 filing

#002Retirement-$2.2M assets

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$2M

+10.4% from 2023

Total participants

+20.0% from 2023

Average account balance

$83,066

-8.0% from 2023

Annual return

10.54%

-4.16 pp from 2023

Benchmarks

See 109,210 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort109,210 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.99M

Not enough data

1 years with asset history on file

Average account balance

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

$83K

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.

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

$101K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+10.54%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4866

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2J3D3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

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

$117K

$9731 / participant

Other / not subdivided$117K100.0%

% of EOY assets

5.858%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$83,066

$183,539-54.7%

$155,556-46.6%

$145,897-43.1%

Participation rate

100.0%

82.7%+17.3pp

78.2%+21.8pp

80.3%+19.7pp

Annual return

10.54%

61.31%-50.8pp

64.84%-54.3pp

552.29%-541.8pp

Employer contribution / active EE

$4,048

$5,315-23.8%

$4,675-13.4%

$4,663-13.2%

Participant deferral / active EE

$4,365

$6,467-32.5%

$5,631-22.5%

$6,689-34.8%

Admin fee / account holder

$4,866

$19,275-74.8%

$15,885-69.4%

$13,390-63.7%

BOSTON CENTER FOR MEMORY, INC. PROFIT SHARING AND 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BOSTON CENTER FOR MEMORY, INC. PROFIT SHARING AND 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