Retirement plan

MIRACLES IN SIGHT RETIREMENT PLAN

Name: MIRACLES IN SIGHT - MIRACLES IN SIGHT RETIREMENT PLAN (2024) Form 5500
Creator: MIRACLES IN SIGHT
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MIRACLES IN SIGHT RETIREMENT PLAN, MIRACLES IN SIGHT

MIRACLES IN SIGHTEIN 56-0628753Plan #001PY 2024

4750 COMMERCIAL PARK CT. - CLEMMONS, NC 27012336-765-0932miraclesinsight.orgLinkedIn51-200 employeeshospital & health care

Prospect flagsLow fidelity bondFailed to transmit contributions

How to read this page

Total assets (EOY)

$4.8M

+11.4% from 2023

Total participants

144

+37.1% from 2023

Average account balance

$34,633

-19.0% from 2023

Annual return

13.16%

-2.36 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

$4.81M

Not enough data

1 years with asset history on file

Average account balance

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

$35K

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.

139

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.

95.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$591K

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

+13.16%

Not enough data

1 years with return on file

Admin fee / account holder

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

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

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J3D

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.
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

2 tripped

ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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

$837

$8 / participant

Other / not subdivided$837100.0%

% of EOY assets

0.017%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: KELLY PARTNERS (FRS) ATTEST SERVICE
Auditor EIN: 994124805
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$34,633

$55,437-37.5%

$155,534-77.7%

$74,459-53.5%

Participation rate

95.3%

61.9%+33.4pp

78.2%+17.1pp

67.2%+28.1pp

Annual return

13.16%

269.58%-256.4pp

64.92%-51.8pp

1369.70%-1356.5pp

Employer contribution / active EE

$3,103

$2,266+36.9%

$4,675-33.6%

$2,626+18.2%

Participant deferral / active EE

$2,473

$2,837-12.8%

$5,630-56.1%

$4,350-43.1%

Admin fee / account holder

$1,742-99.7%

$15,900-100.0%

$1,945-99.7%

MIRACLES IN SIGHT RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MIRACLES IN SIGHT 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