Retirement plan

WE ARE SHARING HOPE SC RETIREMENT PLAN

Name: WE ARE SHARING HOPE SC - WE ARE SHARING HOPE SC RETIREMENT PLAN (2020) Form 5500
Creator: WE ARE SHARING HOPE SC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WE ARE SHARING HOPE SC RETIREMENT PLAN, WE ARE SHARING HOPE SC

WE ARE SHARING HOPE SCEIN 57-0875658Plan #002PY 2020

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

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$6M

+12.9% from 2019

Total participants

124

+2.5% from 2019

Average account balance

$49,580

+9.2% from 2019

Annual return

16.50%

-4.57 pp from 2019

Benchmarks

See 18,628 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort18,628 peers

Snapshot2020

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

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Service providers

Top 10 of 22 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.2 years Filed as: MASS MUTUAL Service code 49 · EIN 04-1590850	Other Services	$34,653
COMMONWEALTH FINANCIAL NETWORK4 years Service code 27 · EIN 04-2675571	Advisory (Plan)	$20,816
FUTURE PLAN CONSULTING - FORT WAYNE1 year Service code 13 · EIN 11-3665754	Contract Administrator	$2,534
AB FUNDS4 years Service code 52 · EIN 13-4071393	Indirect Investment Fees	$0
AMERICAN FUNDS4 years Service code 52 · EIN 95-2817150	Indirect Investment Fees	$0
COLUMBIA4 years Service code 52 · EIN 94-1687665	Indirect Investment Fees	$0
ENVESTNET RETIREMENT SOLUTIONS, LLC5 years Service code 27 · EIN 61-1732930	Advisory (Plan)	$0
FRANKLIN TEMPLETON4 years Service code 52 · EIN 22-2169185	Indirect Investment Fees	$0
JANUS HENDERSON2 years Service code 52 · EIN 84-0592523	Indirect Investment Fees	$0
LORD ABBETT4 years Service code 52 · EIN 13-4055167	Indirect Investment Fees	$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

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

$55K

$653 / participant

Contract admin$55K100.0%

% of EOY assets

0.917%

all-in expense ratio

Categories reported

1 / 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, LLC
Auditor EIN: 570381582
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$49,580

$91,198-45.6%

$178,503-72.2%

$79,856-37.9%

Participation rate

97.6%

69.2%+28.4pp

81.9%+15.7pp

69.6%+28.0pp

Annual return

16.50%

24.20%-7.7pp

151.12%-134.6pp

31.71%-15.2pp

Employer contribution / active EE

$1,144

$3,257-64.9%

$5,011-77.2%

$2,471-53.7%

Participant deferral / active EE

$4,855

$3,237+50.0%

$5,202-6.7%

$3,741+29.8%

Admin fee / account holder

$455

$6,748-93.3%

$13,987-96.7%

$5,306-91.4%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.2 years

Filed as: MASS MUTUAL

Service code 49 · EIN 04-1590850

Other Services

$34,653

COMMONWEALTH FINANCIAL NETWORK4 years

Service code 27 · EIN 04-2675571

Advisory (Plan)

$20,816

FUTURE PLAN CONSULTING - FORT WAYNE1 year

Service code 13 · EIN 11-3665754

Contract Administrator

$2,534

AB FUNDS4 years

Service code 52 · EIN 13-4071393

Indirect Investment Fees

AMERICAN FUNDS4 years

Service code 52 · EIN 95-2817150

Indirect Investment Fees

COLUMBIA4 years

Service code 52 · EIN 94-1687665

Indirect Investment Fees

ENVESTNET RETIREMENT SOLUTIONS, LLC5 years

Service code 27 · EIN 61-1732930

Advisory (Plan)

FRANKLIN TEMPLETON4 years

Service code 52 · EIN 22-2169185

Indirect Investment Fees

JANUS HENDERSON2 years

Service code 52 · EIN 84-0592523

Indirect Investment Fees

LORD ABBETT4 years

Service code 52 · EIN 13-4055167

Indirect Investment Fees

WE ARE SHARING HOPE SC RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WE ARE SHARING HOPE SC 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