Retirement plan

NORTHERN RIVERS FAMILY SERVICES, INC. AND MEMBER AGENCIES RETIREMENT PLAN

Name: NORTHERN RIVERS FAMILY SERVICES, INC. - NORTHERN RIVERS FAMILY SERVICES, INC. AND MEMBER AGENCIES RETIREMENT PLAN (2023) Form 5500
Creator: NORTHERN RIVERS FAMILY SERVICES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NORTHERN RIVERS FAMILY SERVICES, INC. AND MEMBER AGENCIES RETIREMENT PLAN, NORTHERN RIVERS FAMILY SERVICES, INC.

NORTHERN RIVERS FAMILY SERVICES, INC.EIN 46-0759782Plan #001PY 2023

60 ACADEMY RD. - ALBANY, NY 12208518-579-3508parsonscenter.orgLinkedIn1001-5000 employeesindividual & family services

Prospect flagsCorrective distributions

How to read this page

Total assets (EOY)

$46.7M

+15.6% from 2022

Total participants

2,130

+2.1% from 2022

Average account balance

$22,356

+13.8% from 2022

Annual return

15.64%

+29.28 pp from 2022

Benchmarks

See 1,407 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants1,000-4,999

Cohort1,407 peers

Snapshot2023

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$61.12M

Not enough data

1 years with asset history on file

Average account balance

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

$28K

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.

2,209

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.

99.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$5.41M

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

+12.53%

Not enough data

1 years with return on file

Admin fee / account holder

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

$95

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

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
NBT BANCORP NA7+ years Service code 21 · EIN 16-1268674	Bank Trustee	$168,092
CHARLES SCHWAB & CO., INC.4 years Filed as: CHARLES SCHWAB TRUST BANK Service code 19 · EIN 82-3967259	Securities Custodian	$18,236
CHARLES SCHWAB & CO., INC.7+ years Service code 59 · EIN 94-1737782	Shareholder Servicing	$0
EPIC RETIREMENT PLAN SERVICES4 years Service code 15 · EIN 16-1450952	Recordkeeping	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D3H

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.
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.
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.
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

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$168K

$145 / participant

Other / not subdivided$168K100.0%

% of EOY assets

0.360%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: BONADIO & CO., LLP
Auditor EIN: 161131146
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$22,356

$50,127-55.4%

$149,673-85.1%

$80,160-72.1%

Participation rate

96.3%

64.3%+32.0pp

78.8%+17.5pp

72.9%+23.4pp

Annual return

15.64%

29.82%-14.2pp

134.42%-118.8pp

40.38%-24.7pp

Employer contribution / active EE

$1,939

$1,865+4.0%

$4,818-59.8%

$2,978-34.9%

Participant deferral / active EE

$1,977

$3,194-38.1%

$5,680-65.2%

$5,017-60.6%

Admin fee / account holder

$81

$153-47.2%

$13,210-99.4%

$145-44.4%

Provider

Service type

Compensation

NBT BANCORP NA7+ years

Service code 21 · EIN 16-1268674

Bank Trustee

$168,092

CHARLES SCHWAB & CO., INC.4 years

Filed as: CHARLES SCHWAB TRUST BANK

Service code 19 · EIN 82-3967259

Securities Custodian

$18,236

CHARLES SCHWAB & CO., INC.7+ years

Service code 59 · EIN 94-1737782

Shareholder Servicing

EPIC RETIREMENT PLAN SERVICES4 years

Service code 15 · EIN 16-1450952

Recordkeeping

NORTHERN RIVERS FAMILY SERVICES, INC. AND MEMBER AGENCIES RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NORTHERN RIVERS FAMILY SERVICES, INC. AND MEMBER AGENCIES RETIREMENT 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