Retirement plan

MENTAL HEALTH CARE, INC. 401K PLAN

Name: MENTAL HEALTH CARE, INC. - MENTAL HEALTH CARE, INC. 401K PLAN (2023) Form 5500
Creator: MENTAL HEALTH CARE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MENTAL HEALTH CARE, INC. 401K PLAN, MENTAL HEALTH CARE, INC.

MENTAL HEALTH CARE, INC.EIN 59-0747306Plan #001PY 2023

5707 N 22ND STREET - TAMPA, FL 336104350813-239-8449LinkedIn11-50 employeeshospital & health care

Prospect flagsFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$14.9M

+20.6% from 2022

Total participants

1,107

+22.1% from 2022

Average account balance

$16,555

-8.5% from 2022

Annual return

18.52%

+36.15 pp from 2022

Benchmarks

See 4,038 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort4,038 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$17.10M

Not enough data

1 years with asset history on file

Average account balance

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

$16K

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.

1,089

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.

80.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.75M

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

+12.79%

Not enough data

1 years with return on file

Admin fee / account holder

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

$62

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 2 by compensation

Provider	Service type	Compensation
PENSIONMARK FINANCIAL GROUP LLC2 years Filed as: PENSIONMARK FINANCIAL GROUP, LLC Service code 99 24 E. COTA STREET #200 · SANTA BARBARA, CA 93101	Other Fees	$47,513
VOYA RETIREMENT INSURANCE & ANNUITY8 years Service code 64 · EIN 71-0294708	Recordkeeping Fees	$7,058

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

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$55K

$61 / participant

Contract admin$53K97.2%
Other / not subdivided$2K2.8%

% of EOY assets

0.367%

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: RIVERO,GORDIMER & COMPANY, P.A.
Auditor EIN: 593040705
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$16,555

$47,163-64.9%

$149,696-88.9%

$74,460-77.8%

Participation rate

76.9%

63.4%+13.5pp

78.8%-1.8pp

70.7%+6.2pp

Annual return

18.52%

22.75%-4.2pp

134.46%-115.9pp

34.38%-15.9pp

Employer contribution / active EE

$508

$1,907-73.4%

$4,821-89.5%

$2,638-80.8%

Participant deferral / active EE

$1,250

$2,730-54.2%

$5,682-78.0%

$4,530-72.4%

Admin fee / account holder

$61

$343-82.3%

$13,212-99.5%

$348-82.5%

Provider

Service type

Compensation

PENSIONMARK FINANCIAL GROUP LLC2 years

Filed as: PENSIONMARK FINANCIAL GROUP, LLC

Service code 99

24 E. COTA STREET #200 · SANTA BARBARA, CA 93101

Other Fees

$47,513

VOYA RETIREMENT INSURANCE & ANNUITY8 years

Service code 64 · EIN 71-0294708

Recordkeeping Fees

$7,058

MENTAL HEALTH CARE, INC. 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MENTAL HEALTH CARE, INC. 401K 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