Retirement plan

LIFESKILLS, INC. 401(K) PLAN

Name: LIFESKILLS, INC. - LIFESKILLS, INC. 401(K) PLAN (2024) Form 5500
Creator: LIFESKILLS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LIFESKILLS, INC. 401(K) PLAN, LIFESKILLS, INC.

LIFESKILLS, INC.EIN 61-0661819Plan #001PY 2024

380 SUWANNEE TRAIL STREET - BOWLING GREEN, KY 42103270-901-5000lifeskills.comLinkedIn201-500 employeeshospital & health care

Prospect flagsLow returnsHigh feesLow participationLow participant contribution

How to read this page

Total assets (EOY)

$7.5M

+7.0% from 2023

Total participants

572

+11.7% from 2023

Average account balance

$48,867

+9.1% from 2023

Annual return

9.57%

-3.13 pp from 2023

Benchmarks

See 4,134 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort4,134 peers

Snapshot2024

See peer percentile detail. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$7.53M

Not enough data

1 years with asset history on file

Average account balance

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

$49K

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.

154

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.

20.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$381K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$724

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

+9.57%

Not enough data

1 years with return on file

Admin fee / account holder

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

$344

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

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

Start for $4.99 See plans

Service providers

Top 5 by compensation

Provider	Service type	Compensation
LINCOLN NATIONAL CORPORATION3 years Filed as: LINCOLN RETIREMENT SERVICES COMPANY Service code 15 · EIN 35-0472300 P.O. BOX 7877 · FORT WAYNE, IN 46801	Recordkeeping	$51,074
GLOBAL RETIREMENT PARTNERS LLC2 years Filed as: GLOBAL RETIREMENT PARTNERS, LL Service code 27 · EIN 47-1411118 4340 REDWOOD HWY SUITE B60 · SAN RAFAEL, CA 94903	Advisory (Plan)	$13,648
CREATIVE RETIREMENT SYSTEMS, INC.5 years Filed as: CREATIVE RETIREMENT SYSTEMS Service code 15 · EIN 31-1299207 25 MERCHANT STREET · CINCINNATI, OH 45246	Recordkeeping	$5,621
WELLTH ADVISORY SERVICES LLC1 year Filed as: WELLTH ADVISORY SERVICE, LLC Service code 27 25434 PRAIRIEWOOD LAND · SHOREWOOD, IL 60404	Advisory (Plan)	$4,958
BLUE CHIP RETIREMENT PLANS, INC.1 year Filed as: BLUE & CO, LLC Service code 10 2712 SOLUTION CENTER · CHICAGO, IL 60677	Accounting	$4,000

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D2A

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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

4 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.
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.

Expense breakdown

Schedule H Part II

Admin total

$53K

$101 / participant

Other / not subdivided$53K100.0%

% of EOY assets

0.704%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: BLUE & CO., LLC
Auditor EIN: 351178661
Audit fees: $0
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$48,867

$50,820-3.8%

$155,567-68.6%

$77,671-37.1%

Participation rate

20.5%

63.1%-42.6pp

78.2%-57.7pp

70.6%-50.0pp

Annual return

9.57%

34.85%-25.3pp

64.74%-55.2pp

31.21%-21.6pp

Employer contribution / active EE

$1,993-100.0%

$4,674-100.0%

$2,726-100.0%

Participant deferral / active EE

$724

$2,823-74.3%

$5,628-87.1%

$4,648-84.4%

Admin fee / account holder

$344

$436-21.1%

$15,916-97.8%

$430-20.1%

Provider

Service type

Compensation

LINCOLN NATIONAL CORPORATION3 years

Filed as: LINCOLN RETIREMENT SERVICES COMPANY

Service code 15 · EIN 35-0472300

P.O. BOX 7877 · FORT WAYNE, IN 46801

Recordkeeping

$51,074

GLOBAL RETIREMENT PARTNERS LLC2 years

Filed as: GLOBAL RETIREMENT PARTNERS, LL

Service code 27 · EIN 47-1411118

4340 REDWOOD HWY SUITE B60 · SAN RAFAEL, CA 94903

Advisory (Plan)

$13,648

CREATIVE RETIREMENT SYSTEMS, INC.5 years

Filed as: CREATIVE RETIREMENT SYSTEMS

Service code 15 · EIN 31-1299207

25 MERCHANT STREET · CINCINNATI, OH 45246

Recordkeeping

$5,621

WELLTH ADVISORY SERVICES LLC1 year

Filed as: WELLTH ADVISORY SERVICE, LLC

Service code 27

25434 PRAIRIEWOOD LAND · SHOREWOOD, IL 60404

Advisory (Plan)

$4,958

BLUE CHIP RETIREMENT PLANS, INC.1 year

Filed as: BLUE & CO, LLC

Service code 10

2712 SOLUTION CENTER · CHICAGO, IL 60677

Accounting

$4,000

LIFESKILLS, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LIFESKILLS, 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