Retirement plan

SUMMA HEALTH 401(K) RETIREMENT SAVINGS PLAN

Name: SUMMA HEALTH - SUMMA HEALTH 401(K) RETIREMENT SAVINGS PLAN (2020) Form 5500
Creator: SUMMA HEALTH
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SUMMA HEALTH 401(K) RETIREMENT SAVINGS PLAN, SUMMA HEALTH

SUMMA HEALTHEIN 46-1145832Plan #001PY 2020

1077 GORGE BLVD, PO BOX 2090 - AKRON, OH 443092090330-996-8410summahealth.orgLinkedIn5001-10000 employeeshospital & health care

Prospect flagsFailed to provide benefit

How to read this page

Total assets (EOY)

$56.3M

+17.8% from 2019

Total participants

794

-53.3% from 2019

Average account balance

$76,492

+141.6% from 2019

Annual return

19.15%

-2.60 pp from 2019

Benchmarks

See 3,872 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort3,872 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$62.43M

Not enough data

1 years with asset history on file

Average account balance

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

$55K

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.

1,132

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.

81.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.34M

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

+15.81%

Not enough data

1 years with return on file

Admin fee / account holder

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

$67

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 5 by compensation

Provider	Service type	Compensation
BDO USA, LLP1 year Filed as: BDO USA,LLP Service code 10 · EIN 13-5381590	Accounting	$17,820
OXFORD GLOBAL RESOURCES1 year Service code 16 · EIN 04-2838827	Consulting	$12,800
SUMMA HEALTH4 years Service code 14 · EIN 34-1887844	Plan Administrator	$11,661
STRATEGIC ADVISORS, INC.4 years Service code 27 · EIN 04-2654524	Advisory (Plan)	$5,633
FIDELITY INVESTMENTS INSTITUTIONAL6+ years Service code 37 · EIN 04-2647786	Loan Processing	-$51,350

Plan features & details

Pension benefit codes2E2F2G2J2K2T3H2R

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.
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

ComplianceFailed to provide benefit
Form 5500 reported that benefits due were not provided when due.

Expense breakdown

Schedule H Part II

Admin total

$51K

$159 / participant

Investment mgmt$42K83.6%
Other / not subdivided$8K16.4%

% of EOY assets

0.090%

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: BDO USA, LLP
Auditor EIN: 135381590
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$76,492

$52,293+46.3%

$178,503-57.1%

$73,412+4.2%

Participation rate

81.8%

65.3%+16.4pp

81.9%-0.2pp

72.2%+9.6pp

Annual return

19.15%

34.75%-15.6pp

151.12%-132.0pp

59.30%-40.1pp

Employer contribution / active EE

$1,623

$1,736-6.5%

$5,011-67.6%

$2,234-27.3%

Participant deferral / active EE

$4,827

$2,333+106.9%

$5,202-7.2%

$3,806+26.8%

Admin fee / account holder

$69

$127-46.1%

$13,987-99.5%

$158-56.5%

Provider

Service type

Compensation

BDO USA, LLP1 year

Filed as: BDO USA,LLP

Service code 10 · EIN 13-5381590

Accounting

$17,820

OXFORD GLOBAL RESOURCES1 year

Service code 16 · EIN 04-2838827

Consulting

$12,800

SUMMA HEALTH4 years

Service code 14 · EIN 34-1887844

Plan Administrator

$11,661

STRATEGIC ADVISORS, INC.4 years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$5,633

FIDELITY INVESTMENTS INSTITUTIONAL6+ years

Service code 37 · EIN 04-2647786

Loan Processing

-$51,350

SUMMA HEALTH 401(K) RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SUMMA HEALTH 401(K) RETIREMENT SAVINGS 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