Retirement plan

EMPLOYEE BENEFIT PLAN OF BETTER WAY OF MIAMI, INC.

Name: BETTER WAY OF MIAMI, INC. - EMPLOYEE BENEFIT PLAN OF BETTER WAY OF MIAMI, INC. (2019) Form 5500
Creator: BETTER WAY OF MIAMI, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, EMPLOYEE BENEFIT PLAN OF BETTER WAY OF MIAMI, INC., BETTER WAY OF MIAMI, INC.

BETTER WAY OF MIAMI, INC.EIN 59-2462933Plan #002PY 2019

800 NW 28TH ST - MIAMI, FL 331274046305-634-3409bwom.orgLinkedIn1-10 employeesnon-profit organization management

Other plans on this EIN

1 filing

#003Retirement-$15K assets

Prospect flagsLow returnsHigh feesLow assets / participant

How to read this page

Total assets (EOY)

$637K

+19.9% from 2018

Total participants

-26.5% from 2018

Average account balance

$12,996

+19.9% from 2018

Annual return

13.72%

+19.63 pp from 2018

Benchmarks

See 18,452 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort18,452 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.60M

Not enough data

1 years with asset history on file

Average account balance

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

$41K

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.

118.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$152K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+11.15%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3716

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 codes2F2G3D

Plan features

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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$61K

$2183 / participant

Other / not subdivided$61K100.0%

% of EOY assets

9.599%

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

$12,996

$85,171-84.7%

$172,753-92.5%

$72,976-82.2%

Participation rate

96.4%

70.1%+26.4pp

82.6%+13.8pp

69.5%+26.9pp

Annual return

13.72%

27.32%-13.6pp

803.00%-789.3pp

81.02%-67.3pp

Employer contribution / active EE

$891

$3,324-73.2%

$5,144-82.7%

$2,440-63.5%

Participant deferral / active EE

$2,212

$3,260-32.1%

$5,198-57.4%

$3,608-38.7%

Admin fee / account holder

$1,247

$5,880-78.8%

$13,956-91.1%

$5,124-75.7%

EMPLOYEE BENEFIT PLAN OF BETTER WAY OF MIAMI, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

EMPLOYEE BENEFIT PLAN OF BETTER WAY OF MIAMI, INC.

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