Retirement plan

WELBEHEALTH 401(K) PLAN

Name: WELBEHEALTH LLC - WELBEHEALTH 401(K) PLAN (2023) Form 5500
Creator: WELBEHEALTH LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WELBEHEALTH 401(K) PLAN, WELBEHEALTH LLC

WELBEHEALTH LLCEIN 47-4992647Plan #002PY 2023

440 N. BARRANCA AVE - COVINA, CA 91723888-530-4415welbehealth.comLinkedIn501-1000 employeeshospital & health care

Prospect flagsLow assets / participantFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$24.2M

+126.7% from 2022

Total participants

1,823

+48.3% from 2022

Average account balance

$14,416

+51.0% from 2022

Annual return

45.05%

+45.05 pp from 2022

Benchmarks

See 1,406 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants1,000-4,999

Cohort1,406 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$39.48M

Not enough data

1 years with asset history on file

Average account balance

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

$18K

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.

2,189

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.

92.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$13.51M

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

+18.93%

Not enough data

1 years with return on file

Admin fee / account holder

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

$90

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 & ANNUITY2+ years Service code 26 · EIN 71-0294708	Advisory (Participants)	$98,448
NFP RETIREMENT INC2+ years Service code 99 · EIN 33-0905143	Other Fees	$52,389

Plan features & details

Pension benefit codes2E2F2G2J2K3D

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.
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.

Opportunity flags

3 tripped

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$101K

$67 / participant

Investment mgmt$4K4.2%
Contract admin$91K90.5%
Other / not subdivided$5K5.2%

% of EOY assets

0.415%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: APRIO LLP
Auditor EIN: 571157523
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$14,416

$50,150-71.3%

$149,723-90.4%

$80,169-82.0%

Participation rate

90.6%

64.3%+26.3pp

78.8%+11.8pp

72.9%+17.7pp

Annual return

45.05%

29.80%+15.2pp

134.50%-89.4pp

40.39%+4.7pp

Employer contribution / active EE

$2,005

$1,868+7.3%

$4,821-58.4%

$2,978-32.7%

Participant deferral / active EE

$4,647

$3,195+45.5%

$5,682-18.2%

$5,016-7.4%

Admin fee / account holder

$60

$153-60.8%

$13,215-99.5%

$145-58.7%

Provider

Service type

Compensation

VOYA RETIREMENT INSURANCE & ANNUITY2+ years

Service code 26 · EIN 71-0294708

Advisory (Participants)

$98,448

NFP RETIREMENT INC2+ years

Service code 99 · EIN 33-0905143

Other Fees

$52,389

WELBEHEALTH 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WELBEHEALTH 401(K) 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