Retirement plan

EDGEWOOD SUMMIT, INC. 401K PLAN

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

EDGEWOOD SUMMIT, INC.EIN 55-0701159Plan #001PY 2023

300 BAKER LN - CHARLESTON, WV 253022900304-346-2323edgewoodsummit.comLinkedIn11-50 employeeshospital & health care

Prospect flagsLow returnsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$1.3M

+8.0% from 2022

Total participants

110

+6.8% from 2022

Average account balance

$22,055

+17.0% from 2022

Annual return

10.72%

+27.66 pp from 2022

Benchmarks

See 5,703 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,703 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.61M

Not enough data

1 years with asset history on file

Average account balance

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

$11K

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.

141

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.

113.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$312K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+11.18%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1316

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 2 by compensation

Provider	Service type	Compensation
IRONWOOD CAPITAL MANAGEMENT4 years Filed as: IRONWOOD WEALTH MANAGEMENT Service code 26 · EIN 35-2242519	Advisory (Participants)	$6,053
JOHN HANCOCK LIFE INSURANCE COMPANY6 years Filed as: JOHN HANCOCK LIFE INSURANCE Service code 15 · EIN 01-0233346	Recordkeeping	$250

Plan features & details

Pension benefit codes2E2F2G2J2K

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.

Opportunity flags

3 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).

Expense breakdown

Schedule H Part II

Admin total

$13K

$114 / participant

Investment mgmt$6K48.2%
Contract admin$5K42.9%
Other / not subdivided$1K8.9%

% of EOY assets

0.949%

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: BAKER TILLY US, LLP
Auditor EIN: 390859910
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$22,055

$61,391-64.1%

$149,723-85.3%

$71,529-69.2%

Participation rate

54.5%

62.5%-8.0pp

78.8%-24.2pp

67.9%-13.4pp

Annual return

10.72%

35.88%-25.2pp

134.50%-123.8pp

28.97%-18.2pp

Employer contribution / active EE

$817

$2,384-65.7%

$4,821-83.1%

$2,590-68.5%

Participant deferral / active EE

$1,320

$2,921-54.8%

$5,682-76.8%

$4,291-69.2%

Admin fee / account holder

$209

$1,264-83.4%

$13,215-98.4%

$1,588-86.8%

Provider

Service type

Compensation

IRONWOOD CAPITAL MANAGEMENT4 years

Filed as: IRONWOOD WEALTH MANAGEMENT

Service code 26 · EIN 35-2242519

Advisory (Participants)

$6,053

JOHN HANCOCK LIFE INSURANCE COMPANY6 years

Filed as: JOHN HANCOCK LIFE INSURANCE

Service code 15 · EIN 01-0233346

Recordkeeping

$250

EDGEWOOD SUMMIT, INC. 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

EDGEWOOD SUMMIT, INC. 401K 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