Retirement plan

INNOVATIVE HEALTH, LLC 401K

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

INNOVATIVE HEALTH, LLCEIN 47-2158920Plan #001PY 2020

1435 NORTH HAYDEN ROAD, SUITE 100 - SCOTTSDALE, AZ 85257480-747-5102innovative-health.comLinkedIn51-200 employeesmedical devices

Prospect flagsLow returnsLow assets / participant

How to read this page

Total assets (EOY)

$2.8M

+30.2% from 2019

Total participants

138

+8.7% from 2019

Average account balance

$20,581

+19.7% from 2019

Annual return

5.95%

-20.19 pp from 2019

Benchmarks

See 14,881 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants25-99

Cohort14,881 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.43M

Not enough data

1 years with asset history on file

Average account balance

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

$37K

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.

176

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.

99.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.05M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+14.40%

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 2 by compensation

Provider	Service type	Compensation
VOYA RETIREMENT INSURANCE & ANNUITY1 year Service code 64 · EIN 71-0294708	Recordkeeping Fees	$18,396
PENSIONMARK FINANCIAL GROUP LLC1 year Service code 99 · EIN 61-1758632	Other Fees	$14,229

Plan features & details

Pension benefit codes2E2F2G2J2S2T3D3H

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.
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

2 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$18K

$204 / participant

Other / not subdivided$18K100.0%

% of EOY assets

0.657%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BEACHFLEISCHMAN
Auditor EIN: 860683059
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$20,581

$78,428-73.8%

$95,960-78.6%

$79,852-74.2%

Participation rate

97.8%

73.5%+24.3pp

77.1%+20.7pp

69.6%+28.1pp

Annual return

5.95%

19.37%-13.4pp

91.63%-85.7pp

31.72%-25.8pp

Employer contribution / active EE

$2,607

$1,945+34.0%

$2,541+2.6%

$2,471+5.5%

Participant deferral / active EE

$4,617

$3,440+34.2%

$4,167+10.8%

$3,740+23.4%

Admin fee / account holder

$135

$5,622-97.6%

$6,797-98.0%

$5,306-97.5%

Provider

Service type

Compensation

VOYA RETIREMENT INSURANCE & ANNUITY1 year

Service code 64 · EIN 71-0294708

Recordkeeping Fees

$18,396

PENSIONMARK FINANCIAL GROUP LLC1 year

Service code 99 · EIN 61-1758632

Other Fees

$14,229

INNOVATIVE HEALTH, LLC 401K

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

INNOVATIVE HEALTH, LLC 401K

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