Retirement plan

BETH SHOLOM HOME OF VIRGINIA 403(B) RETIREMENT PLAN

Name: BETH SHOLOM HOME OF VIRGINIA - BETH SHOLOM HOME OF VIRGINIA 403(B) RETIREMENT PLAN (2022) Form 5500
Creator: BETH SHOLOM HOME OF VIRGINIA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BETH SHOLOM HOME OF VIRGINIA 403(B) RETIREMENT PLAN, BETH SHOLOM HOME OF VIRGINIA

BETH SHOLOM HOME OF VIRGINIAEIN 54-0525702Plan #007PY 2022

1600 JOHN ROLFE PARKWAY - RICHMOND, VA 23238804-750-2183LinkedIn201-500 employeesmedical practice

Prospect flagsLow returnsHigh feesLow participationLow employer contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$1.4M

-28.8% from 2021

Total participants

161

-22.6% from 2021

Average account balance

$24,070

-17.6% from 2021

Annual return

-18.01%

-27.66 pp from 2021

Benchmarks

See 5,345 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,345 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$125K

Not enough data

1 years with asset history on file

Average account balance

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

$13K

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.

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.

Not enough data

0 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$31K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+8.58%

Not enough data

1 years with return on file

Admin fee / account holder

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

$128120

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

0 years with F_SCH_H allocation on file

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

Service providers

Top 7 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.3 years Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 62 · EIN 04-1590850	Recordkeeping fees; Float revenue	$16,489
ASCENSUS LLC2 years Service code 16 · EIN 82-3719843	Consulting	$6,155
ROYAL ALLIANCE ASSOCIATES INC3 years Filed as: ROYAL ALLIANCE ASSOCIATES, INC. Service code 27 · EIN 93-0987232	Advisory (Plan)	$5,016
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANC CO Service code 64 8515 EAST ORCHARD RD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$4,515
FUTURE PLAN CONSULTING - FORT WAYNE3 years Service code 13 · EIN 11-3665754	Contract Administrator	$2,634
ASCENSUS LLC1 year Filed as: FUTUREPLAN BY ASCENSUS Service code 13 1102 CHESTNUT HILLS PRKY · FORT WAYNE, IN 46814	Contract Administrator	$1,500
ASCENSUS LLC3 years Filed as: ASCENSUS Service code 13	Contract Administrator	$139

Plan features & details

Pension benefit codes2E2F2G2L2M2T3D

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.
2L
Code section 403(b)(1) arrangement
Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
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

6 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
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

$30K

$210 / participant

Contract admin$30K100.0%

% of EOY assets

2.159%

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: WALKER HEALTHCARE SERVICES GROUP CP
Auditor EIN: 541643141
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$24,070

$65,125-63.0%

$143,797-83.3%

$66,949-64.0%

Participation rate

26.2%

65.2%-39.0pp

80.3%-54.1pp

69.8%-43.6pp

Annual return

-18.01%

-11.13%-6.9pp

-0.04%-18.0pp

1.57%-19.6pp

Employer contribution / active EE

$407

$2,362-82.8%

$4,952-91.8%

$2,545-84.0%

Participant deferral / active EE

$1,081

$2,920-63.0%

$5,638-80.8%

$4,239-74.5%

Admin fee / account holder

$520

$503+3.4%

$14,679-96.5%

$594-12.5%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.3 years

Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE

Service code 62 · EIN 04-1590850

Recordkeeping fees; Float revenue

$16,489

ASCENSUS LLC2 years

Service code 16 · EIN 82-3719843

Consulting

$6,155

ROYAL ALLIANCE ASSOCIATES INC3 years

Filed as: ROYAL ALLIANCE ASSOCIATES, INC.

Service code 27 · EIN 93-0987232

Advisory (Plan)

$5,016

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANC CO

Service code 64

8515 EAST ORCHARD RD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$4,515

FUTURE PLAN CONSULTING - FORT WAYNE3 years

Service code 13 · EIN 11-3665754

Contract Administrator

$2,634

ASCENSUS LLC1 year

Filed as: FUTUREPLAN BY ASCENSUS

Service code 13

1102 CHESTNUT HILLS PRKY · FORT WAYNE, IN 46814

Contract Administrator

$1,500

ASCENSUS LLC3 years

Filed as: ASCENSUS

Service code 13

Contract Administrator

$139

BETH SHOLOM HOME OF VIRGINIA 403(B) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BETH SHOLOM HOME OF VIRGINIA 403(B) RETIREMENT 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