Retirement plan

OGLETHORPE, INC. 401(K) PLAN

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

OGLETHORPE, INC.EIN 59-3586063Plan #001PY 2022

7074 GROVE ROAD, SUITE C - BROOKSVILLE, FL 34609813-978-1933oglethorpeinc.comLinkedIn1001-5000 employeeshospital & health care

Prospect flagsLow returnsHigh feesLow participationLow employer contributionLow participant contributionCorrective distributions

How to read this page

Total assets (EOY)

$4.7M

-18.9% from 2021

Total participants

555

-16.5% from 2021

Average account balance

$31,474

-17.8% from 2021

Annual return

-18.08%

-27.89 pp from 2021

Benchmarks

See 251 peers

Peer group

Industry55 - Management of Companies and Enterprises

Plan typeDefined contribution

Participants250-999

Cohort251 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.58M

Not enough data

1 years with asset history on file

Average account balance

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

$45K

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.

125

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.

19.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$513K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+10.78%

Not enough data

1 years with return on file

Admin fee / account holder

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

$692

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 7 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.7 years Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 62 · EIN 04-1590850	Float revenue; Recordkeeping fees	$32,864
UBS FINANCIAL SERVICES INC6 years Filed as: UBS FINANCIAL SERVICES INC. Service code 27	Advisory (Plan)	$11,610
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$9,293
RETIREMENT SOLUTIONS SPECIALISTS7 years Service code 13 · EIN 27-0293282	Contract Administrator	$7,964
HARRELL, STINE & ASSOCIATES LLC3 years Service code 10 · EIN 26-1821557	Accounting	$7,000
UBS FINANCIAL SERVICES INC7 years Filed as: UBS FINANCIAL SERVICES Service code 27 · EIN 13-2638166	Advisory (Plan)	$3,207
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ADVISORY GROUP Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$16

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

6 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$57K

$113 / participant

Investment mgmt$32K55.9%
Contract admin$17K29.2%
Other / not subdivided$8K14.8%

% of EOY assets

1.226%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: HARRELL, STINE, & ASSOCIATES LLC
Auditor EIN: 261821557
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$31,474

$74,188-57.6%

$115,756-72.8%

$64,814-51.4%

Participation rate

19.6%

76.2%-56.7pp

77.1%-57.5pp

71.5%-51.9pp

Annual return

-18.08%

-11.81%-6.3pp

143.14%-161.2pp

32.84%-50.9pp

Employer contribution / active EE

$323

$3,365-90.4%

$3,793-91.5%

$2,507-87.1%

Participant deferral / active EE

$896

$5,294-83.1%

$6,254-85.7%

$4,310-79.2%

Admin fee / account holder

$386

$148+160.2%

$8,124-95.2%

$188+105.5%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.7 years

Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE

Service code 62 · EIN 04-1590850

Float revenue; Recordkeeping fees

$32,864

UBS FINANCIAL SERVICES INC6 years

Filed as: UBS FINANCIAL SERVICES INC.

Service code 27

Advisory (Plan)

$11,610

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$9,293

RETIREMENT SOLUTIONS SPECIALISTS7 years

Service code 13 · EIN 27-0293282

Contract Administrator

$7,964

HARRELL, STINE & ASSOCIATES LLC3 years

Service code 10 · EIN 26-1821557

Accounting

$7,000

UBS FINANCIAL SERVICES INC7 years

Filed as: UBS FINANCIAL SERVICES

Service code 27 · EIN 13-2638166

Advisory (Plan)

$3,207

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ADVISORY GROUP

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$16

OGLETHORPE, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

OGLETHORPE, 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