Retirement plan

INNOVACARE SERVICES COMPANY, LLC SAVINGS AND PROFI

Name: INNOVACARE SERVICES COMPANY, LLC - INNOVACARE SERVICES COMPANY, LLC SAVINGS AND PROFI (2020) Form 5500
Creator: INNOVACARE SERVICES COMPANY, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, INNOVACARE SERVICES COMPANY, LLC SAVINGS AND PROFI, INNOVACARE SERVICES COMPANY, LLC

INNOVACARE SERVICES COMPANY, LLCEIN 46-1417639Plan #001PY 2020

6900 TAVISTOCK LAKE BLVD, STE 300 - ORLANDO, FL 32327201-969-2300LinkedIn501-1000 employeesindividual & family services

Prospect flagsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$50.6M

+13.9% from 2019

Total participants

671

+17.5% from 2019

Average account balance

$99,616

+6.5% from 2019

Annual return

15.29%

-6.66 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

$62.55M

Not enough data

1 years with asset history on file

Average account balance

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

$68K

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.

925

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.

36.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.84M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+22.61%

Not enough data

1 years with return on file

Admin fee / account holder

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

$96

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 10 of 16 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years Service code 52 · EIN 04-1590850	Indirect Investment Fees	$99,223
MORGAN STANLEY SMITH BARNEY4 years Filed as: MORGAN STANLEY WEALTH MANAGEMENT Service code 27 · EIN 26-4310632	Advisory (Plan)	$30,937
ALGER1 year Service code 52 · EIN 13-2665689	Indirect Investment Fees	$0
AMERICAN CENTURY4 years Service code 52 · EIN 43-1646043	Indirect Investment Fees	$0
COLUMBIA4 years Service code 52 · EIN 41-1458705	Indirect Investment Fees	$0
FIDELITY INVESTMENTS INSTITUTIONAL1 year Filed as: FIDELITY INVESTMENTS Service code 52 · EIN 04-3365630	Indirect Investment Fees	$0
GOLDMAN SACHS4 years Service code 52 · EIN 13-4166989	Indirect Investment Fees	$0
INVESCO4 years Service code 52 · EIN 93-6305075	Indirect Investment Fees	$0
IVY FUNDS4 years Service code 52 · EIN 04-6006759	Indirect Investment Fees	$0
MORGAN STANLEY SMITH BARNEY4 years Filed as: JP MORGAN Service code 52 · EIN 26-3613641	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2J2F2G2K3D3H2T

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.
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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$130K

$473 / participant

Investment mgmt$37K28.7%
Contract admin$92K70.6%
Other / not subdivided$9670.7%

% of EOY assets

0.257%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: KPMG LLP
Auditor EIN: 135565207
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$99,616

$52,293+90.5%

$178,499-44.2%

$73,412+35.7%

Participation rate

40.7%

65.3%-24.6pp

81.9%-41.2pp

72.2%-31.4pp

Annual return

15.29%

34.75%-19.5pp

151.10%-135.8pp

59.30%-44.0pp

Employer contribution / active EE

$2,320

$1,735+33.7%

$5,011-53.7%

$2,234+3.9%

Participant deferral / active EE

$3,378

$2,332+44.8%

$5,202-35.1%

$3,806-11.2%

Admin fee / account holder

$256

$127+101.2%

$13,986-98.2%

$158+62.3%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$99,223

MORGAN STANLEY SMITH BARNEY4 years

Filed as: MORGAN STANLEY WEALTH MANAGEMENT

Service code 27 · EIN 26-4310632

Advisory (Plan)

$30,937

ALGER1 year

Service code 52 · EIN 13-2665689

Indirect Investment Fees

AMERICAN CENTURY4 years

Service code 52 · EIN 43-1646043

Indirect Investment Fees

COLUMBIA4 years

Service code 52 · EIN 41-1458705

Indirect Investment Fees

FIDELITY INVESTMENTS INSTITUTIONAL1 year

Filed as: FIDELITY INVESTMENTS

Service code 52 · EIN 04-3365630

Indirect Investment Fees

GOLDMAN SACHS4 years

Service code 52 · EIN 13-4166989

Indirect Investment Fees

INVESCO4 years

Service code 52 · EIN 93-6305075

Indirect Investment Fees

IVY FUNDS4 years

Service code 52 · EIN 04-6006759

Indirect Investment Fees

MORGAN STANLEY SMITH BARNEY4 years

Filed as: JP MORGAN

Service code 52 · EIN 26-3613641

Indirect Investment Fees

INNOVACARE SERVICES COMPANY, LLC SAVINGS AND PROFI

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

INNOVACARE SERVICES COMPANY, LLC SAVINGS AND PROFI

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