Retirement plan

CARE ADVANTAGE, INC. PROFIT SHARING PLAN

Name: CARE ADVANTAGE, INC. - CARE ADVANTAGE, INC. PROFIT SHARING PLAN (2024) Form 5500
Creator: CARE ADVANTAGE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CARE ADVANTAGE, INC. PROFIT SHARING PLAN, CARE ADVANTAGE, INC.

CARE ADVANTAGE, INC.EIN 54-1447338Plan #001PY 2024

10041 MIDLOTHIAN TURNPIKE - RICHMOND, VA 23235804-323-9464careadvantageinc.comLinkedIn1001-5000 employeeshospital & health care

Prospect flagsLow returnsLow participationRecently reached 100 employeesFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$3.2M

+13.0% from 2023

Total participants

269

+55.5% from 2023

Average account balance

$25,392

-90.2% from 2023

Annual return

10.53%

-4.31 pp from 2023

Benchmarks

See 5,998 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,998 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.22M

Not enough data

1 years with asset history on file

Average account balance

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

$25K

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.

127

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.

32.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$381K

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

+10.53%

Not enough data

1 years with return on file

Admin fee / account holder

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

$43

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 5 by compensation

Provider	Service type	Compensation
PRO PRINT1 year Filed as: PRO ACCOUNT Service code 26 · EIN 73-0988442 10 W NATIONWIDE BLVD · COLUMBUS, OH 43215	Advisory (Participants)	$1,947
IRON-CO-FID-COMPREHENSIVE1 year Filed as: IRON FIDUCIARY Service code 26 · EIN 99-9552241	Advisory (Participants)	$1,541
AB FUNDS1 year Filed as: AB&D CO Service code 17 · EIN 54-1703353	Pension Consulting	$1,157
NATIONWIDE6 years Service code 15 · EIN 31-4156830 10 W NATIONWIDE BLVD · COLUMBUS, OH 43215	Recordkeeping	$1,047
RBC WEALTH MANAGEMENT6 years Filed as: RBC CAPITAL MARKETS LLC Service code 26 250 NICOLLET MALL, SUITE 1400 · MINNEAPOLIS, MN 55401	Advisory (Participants)	$0

Plan features & details

Pension benefit codes2A2E2F2G2S2T3D3H

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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

5 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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).
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$5K

$26 / participant

Recordkeeping$5K100.0%

% of EOY assets

0.169%

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: KEITER
Auditor EIN: 541631262
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$25,392

$55,437-54.2%

$155,534-83.7%

$74,459-65.9%

Participation rate

32.7%

61.9%-29.2pp

78.2%-45.5pp

67.2%-34.5pp

Annual return

10.53%

269.58%-259.1pp

64.92%-54.4pp

1369.70%-1359.2pp

Employer contribution / active EE

$2,266-100.0%

$4,675-100.0%

$2,626-100.0%

Participant deferral / active EE

$1,807

$2,837-36.3%

$5,630-67.9%

$4,350-58.4%

Admin fee / account holder

$43

$1,742-97.5%

$15,900-99.7%

$1,945-97.8%

Provider

Service type

Compensation

PRO PRINT1 year

Filed as: PRO ACCOUNT

Service code 26 · EIN 73-0988442

10 W NATIONWIDE BLVD · COLUMBUS, OH 43215

Advisory (Participants)

$1,947

IRON-CO-FID-COMPREHENSIVE1 year

Filed as: IRON FIDUCIARY

Service code 26 · EIN 99-9552241

Advisory (Participants)

$1,541

AB FUNDS1 year

Filed as: AB&D CO

Service code 17 · EIN 54-1703353

Pension Consulting

$1,157

NATIONWIDE6 years

Service code 15 · EIN 31-4156830

10 W NATIONWIDE BLVD · COLUMBUS, OH 43215

Recordkeeping

$1,047

RBC WEALTH MANAGEMENT6 years

Filed as: RBC CAPITAL MARKETS LLC

Service code 26

250 NICOLLET MALL, SUITE 1400 · MINNEAPOLIS, MN 55401

Advisory (Participants)

CARE ADVANTAGE, INC. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CARE ADVANTAGE, INC. PROFIT SHARING 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