Retirement plan

FRIENDS HOMES, INC. 401(K) RETIREMENT PLAN

Name: FRIENDS HOMES, INC. - FRIENDS HOMES, INC. 401(K) RETIREMENT PLAN (2021) Form 5500
Creator: FRIENDS HOMES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FRIENDS HOMES, INC. 401(K) RETIREMENT PLAN, FRIENDS HOMES, INC.

FRIENDS HOMES, INC.EIN 56-0754599Plan #002PY 2021

925 NEW GARDEN ROAD - GREENSBORO, NC 274103245336-292-8187friendshomes.orgLinkedIn51-200 employeeshospital & health care

Prospect flagsLow assets / participantFailed to transmit contributions

How to read this page

Total assets (EOY)

$4.6M

-3.2% from 2020

Total participants

634

+18.3% from 2020

Average account balance

$7,924

-11.7% from 2020

Annual return

16.93%

+0.75 pp from 2020

Benchmarks

See 3,799 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort3,799 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.48M

Not enough data

1 years with asset history on file

Average account balance

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

$7K

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.

662

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$455K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+9.71%

Not enough data

1 years with return on file

Admin fee / account holder

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

$42

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 codes2E2J2R2S2T

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.

Opportunity flags

2 tripped

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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

$3K

$12 / participant

Investment mgmt$3K100.0%

% of EOY assets

0.073%

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: TURLINGTON AND COMPANY, LLP
Auditor EIN: 560817345
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$7,924

$56,540-86.0%

$185,851-95.7%

$86,821-90.9%

Participation rate

79.9%

65.5%+14.3pp

81.7%-1.8pp

72.3%+7.6pp

Annual return

16.93%

118.20%-101.3pp

122.11%-105.2pp

97.94%-81.0pp

Employer contribution / active EE

$370

$1,844-79.9%

$5,168-92.8%

$2,406-84.6%

Participant deferral / active EE

$1,266

$2,555-50.5%

$5,569-77.3%

$4,132-69.4%

Admin fee / account holder

$150-96.1%

$16,245-100.0%

$170-96.6%

FRIENDS HOMES, INC. 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FRIENDS HOMES, INC. 401(K) 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