Retirement plan

LIFE POINT, INC. PROFIT SHARING PLAN

Name: LIFE POINT, INC. - LIFE POINT, INC. PROFIT SHARING PLAN (2015) Form 5500
Creator: LIFE POINT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LIFE POINT, INC. PROFIT SHARING PLAN, LIFE POINT, INC.

LIFE POINT, INC.EIN 57-0875658Plan #002PY 2015

3950 FABER PLACE, SUITE 400 - CHARLESTON, SC 29405843-763-7755sharinghopesc.orgLinkedIn51-200 employeesmedical practice

Prospect flagsCorrective distributions

How to read this page

Total assets (EOY)

$4.3M

No prior year

Total participants

113

No prior year

Average account balance

$40,298

No prior year

Annual return

0.62%

No prior year

Benchmarks

See 4,452 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort4,452 peers

Snapshot2015

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.70M

Not enough data

1 years with asset history on file

Average account balance

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

$53K

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.

163

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.

96.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$897K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+14.21%

Not enough data

1 years with return on file

Admin fee / account holder

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

$313

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 5 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.1+ years Filed as: MASS MUTUAL LIFE INSURANCE COMPANY Service code 52 · EIN 04-1590850	Indirect Investment Fees	$15,484
C E S INS AGENCY INC1+ years Filed as: C E S INS AGENCY, INC. Service code 53 · EIN 04-2865307	Insurance Commissions	$0
MARC GOODMAN1+ years Filed as: MARC W LEVY Service code 53 238 MATHIS FERRY RD, STE 104 · MOUNT PLEASANT, SC 29464	Insurance Commissions	$0
NICHOLAS PENSION CONSULTANTS1+ years Filed as: NICHOLAS GAVALAS Service code 53 799 CREEKSIDE DRIVE · MT PLEASANT, SC 29464	Insurance Commissions	$0
QUALIFIED PLANS, LLC1+ years Service code 13 · EIN 58-2605083	Contract Administrator	$0

Plan features & details

Pension benefit codes2E2F2J2T3D2K2S

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).
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.
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.
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

$15K

$155 / participant

Other / not subdivided$15K100.0%

% of EOY assets

0.362%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: ELLIOTT DAVIS DECOSIMO, LLC
Auditor EIN: 570381582
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$40,298

$46,360-13.1%

$147,617-72.7%

$52,331-23.0%

Participation rate

93.0%

64.9%+28.1pp

84.6%+8.4pp

68.1%+24.9pp

Annual return

0.62%

1.62%-1.0pp

61.98%-61.4pp

4.54%-3.9pp

Employer contribution / active EE

$902

$2,126-57.6%

$5,564-83.8%

$1,882-52.0%

Participant deferral / active EE

$3,611

$2,258+60.0%

$4,895-26.2%

$3,022+19.5%

Admin fee / account holder

$146

$766-80.9%

$11,612-98.7%

$592-75.3%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.1+ years

Filed as: MASS MUTUAL LIFE INSURANCE COMPANY

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$15,484

C E S INS AGENCY INC1+ years

Filed as: C E S INS AGENCY, INC.

Service code 53 · EIN 04-2865307

Insurance Commissions

MARC GOODMAN1+ years

Filed as: MARC W LEVY

Service code 53

238 MATHIS FERRY RD, STE 104 · MOUNT PLEASANT, SC 29464

Insurance Commissions

NICHOLAS PENSION CONSULTANTS1+ years

Filed as: NICHOLAS GAVALAS

Service code 53

799 CREEKSIDE DRIVE · MT PLEASANT, SC 29464

Insurance Commissions

QUALIFIED PLANS, LLC1+ years

Service code 13 · EIN 58-2605083

Contract Administrator

LIFE POINT, INC. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LIFE POINT, INC. PROFIT SHARING 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