Retirement plan

BORINQUEN HEALTH CARE CENTER, INC. 401(K) PLAN

Name: BORINQUEN HEALTH CARE CENTER, INC. - BORINQUEN HEALTH CARE CENTER, INC. 401(K) PLAN (2022) Form 5500
Creator: BORINQUEN HEALTH CARE CENTER, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BORINQUEN HEALTH CARE CENTER, INC. 401(K) PLAN, BORINQUEN HEALTH CARE CENTER, INC.

BORINQUEN HEALTH CARE CENTER, INC.EIN 59-1417397Plan #002PY 2022

3601 FEDERAL HIGHWAY - MIAMI, FL 33137305-576-6611LinkedIn1-10 employeesmedical practice

Prospect flagsLow participationLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$4M

-8.7% from 2021

Total participants

359

+1.1% from 2021

Average account balance

$17,720

-12.4% from 2021

Annual return

-16.86%

-28.48 pp from 2021

Benchmarks

See 3,875 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort3,875 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.60M

Not enough data

1 years with asset history on file

Average account balance

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

$24K

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.

232

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.

57.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$830K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+10.75%

Not enough data

1 years with return on file

Admin fee / account holder

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

$224

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
LPL FINANCIAL2 years Filed as: LPL FINANCIAL LLC Service code 55	Other Commissions	$8,760
THE RETIREMENT ADVANTAGE INC4 years Service code 13 101 E GRAND AVENUE SUITE 16 · PORT WASHINGTON, WI 53074	Contract Administrator	$2,350
LEAFHOUSE FINANCIAL ADVISORS, LLC1 year Filed as: LEAF HOUSE FINANCIAL ADVISORS Service code 99 6504 BRIDGE POINT PKWY · AUSTIN, TX 787305097	Other Fees	$1,798
MORNINGSTAR4 years Filed as: MORNINGSTAR INC MORNINGSTAR ASSOCIA Service code 99 5904 PAYSPHERE CIRCLE · CHICAGO, IL 60674	Other Fees	$215
LPL FINANCIAL2 years Filed as: LPL FINANACIAL LLC Service code 55 PO BOX 509026 · SAN DIEGO, CA 92150	Other Commissions	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.
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.
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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$27K

$80 / participant

Other / not subdivided$27K100.0%

% of EOY assets

0.670%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: GARCIAESPINOSAMIYARESRODRIGUETRUEBA
Auditor EIN: 830696713
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$17,720

$46,332-61.8%

$143,797-87.7%

$64,824-72.7%

Participation rate

59.8%

64.2%-4.5pp

80.3%-20.6pp

71.5%-11.7pp

Annual return

-16.86%

-10.05%-6.8pp

-0.04%-16.8pp

32.84%-49.7pp

Employer contribution / active EE

$361

$1,911-81.1%

$4,952-92.7%

$2,507-85.6%

Participant deferral / active EE

$1,800

$2,647-32.0%

$5,638-68.1%

$4,311-58.2%

Admin fee / account holder

$119

$154-22.9%

$14,679-99.2%

$188-36.8%

Provider

Service type

Compensation

LPL FINANCIAL2 years

Filed as: LPL FINANCIAL LLC

Service code 55

Other Commissions

$8,760

THE RETIREMENT ADVANTAGE INC4 years

Service code 13

101 E GRAND AVENUE SUITE 16 · PORT WASHINGTON, WI 53074

Contract Administrator

$2,350

LEAFHOUSE FINANCIAL ADVISORS, LLC1 year

Filed as: LEAF HOUSE FINANCIAL ADVISORS

Service code 99

6504 BRIDGE POINT PKWY · AUSTIN, TX 787305097

Other Fees

$1,798

MORNINGSTAR4 years

Filed as: MORNINGSTAR INC MORNINGSTAR ASSOCIA

Service code 99

5904 PAYSPHERE CIRCLE · CHICAGO, IL 60674

Other Fees

$215

LPL FINANCIAL2 years

Filed as: LPL FINANACIAL LLC

Service code 55

PO BOX 509026 · SAN DIEGO, CA 92150

Other Commissions

BORINQUEN HEALTH CARE CENTER, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BORINQUEN HEALTH CARE CENTER, INC. 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