Retirement plan

SCOTLAND MEMORIAL HOSPITAL, INC. 403(B) RETIREMENT PLAN

Name: SCOTLAND MEMORIAL HOSPITAL, INC. - SCOTLAND MEMORIAL HOSPITAL, INC. 403(B) RETIREMENT PLAN (2024) Form 5500
Creator: SCOTLAND MEMORIAL HOSPITAL, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SCOTLAND MEMORIAL HOSPITAL, INC. 403(B) RETIREMENT PLAN, SCOTLAND MEMORIAL HOSPITAL, INC.

SCOTLAND MEMORIAL HOSPITAL, INC.EIN 56-0583151Plan #002PY 2024

500 LAUNCHWOOD DRIVE - LAURINBURG, NC 28352910-291-7549LinkedIn1-10 employeeshospital & health care

Prospect flagsCorrective distributions

How to read this page

Total assets (EOY)

$79.2M

+16.7% from 2023

Total participants

1,701

+17.7% from 2023

Average account balance

$55,024

+8.5% from 2023

Annual return

14.11%

-3.08 pp from 2023

Benchmarks

See 1,429 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants1,000-4,999

Cohort1,429 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$79.18M

Not enough data

1 years with asset history on file

Average account balance

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

$55K

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.

1,439

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.

81.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$8.56M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+14.11%

Not enough data

1 years with return on file

Admin fee / account holder

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

$95

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
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 15 · EIN 84-0467907	Recordkeeping	$93,200
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 26 · EIN 84-1532243	Advisory (Participants)	$43,732

Plan features & details

Pension benefit codes2E2F2G2J2S3D

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

1 tripped

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$137K

$96 / participant

Recordkeeping$93K68.1%
Investment mgmt$44K31.9%

% of EOY assets

0.173%

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: FORVIS MAZARS, LLP
Auditor EIN: 440160260
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$55,024

$53,204+3.4%

$155,556-64.6%

$200,096-72.5%

Participation rate

81.7%

64.1%+17.5pp

78.2%+3.4pp

72.0%+9.6pp

Annual return

14.11%

41.02%-26.9pp

64.84%-50.7pp

34.26%-20.2pp

Employer contribution / active EE

$2,572

$1,850+39.0%

$4,675-45.0%

$3,038-15.3%

Participant deferral / active EE

$3,424

$3,163+8.2%

$5,631-39.2%

$5,090-32.7%

Admin fee / account holder

$95

$186-48.8%

$15,885-99.4%

$269-64.7%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 15 · EIN 84-0467907

Recordkeeping

$93,200

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 26 · EIN 84-1532243

Advisory (Participants)

$43,732

SCOTLAND MEMORIAL HOSPITAL, INC. 403(B) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SCOTLAND MEMORIAL HOSPITAL, INC. 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