Retirement plan

MENTAL HEALTH ASSOCIATION OF SOUTH CENTRAL KANSAS 401(K) PLAN

Name: MENTAL HEALTH ASSOCIATION OF SOUTH CENTRAL KANSAS - MENTAL HEALTH ASSOCIATION OF SOUTH CENTRAL KANSAS 401(K) PLAN (2021) Form 5500
Creator: MENTAL HEALTH ASSOCIATION OF SOUTH CENTRAL KANSAS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MENTAL HEALTH ASSOCIATION OF SOUTH CENTRAL KANSAS 401(K) PLAN, MENTAL HEALTH ASSOCIATION OF SOUTH CENTRAL KANSAS

MENTAL HEALTH ASSOCIATION OF SOUTH CENTRAL KANSASEIN 48-0990763Plan #001PY 2021

555 N WOODLAWN SUITE 3105 - WICHITA, KS 67208316-651-1298

Prospect flagsLow employer contributionLow fidelity bondCorrective distributions

How to read this page

Total assets (EOY)

$3.3M

+18.0% from 2020

Total participants

221

+4.2% from 2020

Average account balance

$16,832

+10.3% from 2020

Annual return

14.78%

-5.07 pp from 2020

Benchmarks

See 5,351 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,351 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.13M

Not enough data

1 years with asset history on file

Average account balance

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

$15K

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.

206

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.

98.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$365K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+11.66%

Not enough data

1 years with return on file

Admin fee / account holder

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

$105

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 3 by compensation

Provider	Service type	Compensation
IMA WEALTH INC2 years Service code 27 430 E DOUGLAS STE 400 · WICHITA, KS 67202	Advisory (Plan)	$6,130
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$1,919
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: ADVISED ASSETS GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$339

Plan features & details

Pension benefit codes2F2G2K2S2T3D2E

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.
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.

Opportunity flags

3 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$8K

$54 / participant

Investment mgmt$6K77.1%
Contract admin$2K22.9%

% of EOY assets

0.250%

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: ALLEN, GIBBS & HOULIK, L.C.
Auditor EIN: 481032601
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$16,832

$61,166-72.5%

$185,849-90.9%

$79,391-78.8%

Participation rate

85.7%

66.6%+19.1pp

81.7%+4.0pp

70.7%+15.0pp

Annual return

14.78%

19.45%-4.7pp

122.10%-107.3pp

116.88%-102.1pp

Employer contribution / active EE

$2,321-100.0%

$5,169-100.0%

$2,428-100.0%

Participant deferral / active EE

$1,603

$2,789-42.5%

$5,569-71.2%

$4,046-60.4%

Admin fee / account holder

$42

$710-94.1%

$16,244-99.7%

$627-93.3%

Provider

Service type

Compensation

IMA WEALTH INC2 years

Service code 27

430 E DOUGLAS STE 400 · WICHITA, KS 67202

Advisory (Plan)

$6,130

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$1,919

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: ADVISED ASSETS GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$339

MENTAL HEALTH ASSOCIATION OF SOUTH CENTRAL KANSAS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MENTAL HEALTH ASSOCIATION OF SOUTH CENTRAL KANSAS 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