Retirement plan

HAVEN OF REST MINISTRIES 401(K) PLAN

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

HAVEN OF REST MINISTRIES, INC.EIN 57-0422667Plan #001PY 2023

219 WEST WHITNER ST. - ANDERSON, SC 29624864-226-6193

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$459K

+9.8% from 2022

Total participants

+11.1% from 2022

Average account balance

$20,855

+34.7% from 2022

Annual return

14.77%

+25.95 pp from 2022

Benchmarks

See 9,816 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort9,816 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$693K

Not enough data

1 years with asset history on file

Average account balance

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

$28K

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.

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.

67.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$99K

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

+12.51%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1217

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

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 codes2E2F2G2J2T3D

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.
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.

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$107K

$2330 / participant

Other / not subdivided$107K100.0%

% of EOY assets

23.361%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$20,855

$57,312-63.6%

$86,617-75.9%

$75,181-72.3%

Participation rate

39.1%

63.2%-24.1pp

71.7%-32.6pp

67.2%-28.1pp

Annual return

14.77%

2672.78%-2658.0pp

591.91%-577.1pp

160.69%-145.9pp

Employer contribution / active EE

$705

$2,315-69.6%

$3,023-76.7%

$2,671-73.6%

Participant deferral / active EE

$1,115

$3,319-66.4%

$4,437-74.9%

$4,126-73.0%

Admin fee / account holder

$4,872

$4,114+18.4%

$5,613-13.2%

$5,650-13.8%

HAVEN OF REST MINISTRIES 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HAVEN OF REST MINISTRIES 401(K) 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