Retirement plan

NORTHBAY HEALTHCARE 403(B) RETIREMENT PLAN

Name: NORTHBAY HEALTHCARE CORPORATION - NORTHBAY HEALTHCARE 403(B) RETIREMENT PLAN (2024) Form 5500
Creator: NORTHBAY HEALTHCARE CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NORTHBAY HEALTHCARE 403(B) RETIREMENT PLAN, NORTHBAY HEALTHCARE CORPORATION

NORTHBAY HEALTHCARE CORPORATIONEIN 68-0046750Plan #003PY 2024

4500 BUSINESS CENTER DRIVE - FAIRFIELD, CA 945346888707-646-3333northbay.orgLinkedIn1001-5000 employeeshospital & health care

Prospect flagsLow returnsHigh feesFailed to transmit contributionsCorrective distributions

Top hat statement on fileNQDC

Filed January 29, 2008 (most recent of 2 filings on file)

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$500.8M

+10.2% from 2023

Total participants

3,856

+2.1% from 2023

Average account balance

$139,603

+8.4% from 2023

Annual return

11.67%

-3.08 pp from 2023

Benchmarks

See 1,436 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants1,000-4,999

Cohort1,436 peers

Snapshot2024

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Analytics

Total assets (EOY)

Plan-year ending balance

$500.75M

Not enough data

1 years with asset history on file

Average account balance

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

$140K

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.

3,587

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.

90.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$35.98M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+11.67%

Not enough data

1 years with return on file

Admin fee / account holder

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

$371

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 4 by compensation

Provider	Service type	Compensation
LINCOLN NATIONAL CORPORATION10+ years Service code 13 · EIN 35-1140070	Contract Administrator	$759,866
MORNINGSTAR2 years Service code 26 · EIN 36-3297908	Advisory (Participants)	$337,027
SAGEVIEW ADVISORY GROUP, LLC1 year Service code 26 · EIN 33-0818667	Advisory (Participants)	$213,803
FARBER HASS HURLEY LLP10+ years Filed as: FABER HASS HURLEY LLP Service code 10 · EIN 20-4207759	Accounting	$18,805

Plan features & details

Pension benefit codes2F2G2L2M2T2R2S3D

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.
2L
Code section 403(b)(1) arrangement
Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

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.
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

$1.3M

$480 / participant

Investment mgmt$551K41.4%
Contract admin$760K57.2%
Other / not subdivided$19K1.4%

% of EOY assets

0.265%

all-in expense ratio

Categories reported

2 / 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: FARBER HASS HURLEY LLP
Auditor EIN: 204207759
Audit fees: $18,805
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$139,603

$53,136+162.7%

$155,509-10.2%

$199,593-30.1%

Participation rate

90.3%

64.1%+26.2pp

78.2%+12.1pp

72.0%+18.3pp

Annual return

11.67%

41.15%-29.5pp

64.67%-53.0pp

34.25%-22.6pp

Employer contribution / active EE

$3,977

$1,851+114.9%

$4,672-14.9%

$3,034+31.1%

Participant deferral / active EE

$9,017

$3,161+185.3%

$5,626+60.3%

$5,087+77.3%

Admin fee / account holder

$371

$185+99.9%

$15,912-97.7%

$269+37.9%

Provider

Service type

Compensation

LINCOLN NATIONAL CORPORATION10+ years

Service code 13 · EIN 35-1140070

Contract Administrator

$759,866

MORNINGSTAR2 years

Service code 26 · EIN 36-3297908

Advisory (Participants)

$337,027

SAGEVIEW ADVISORY GROUP, LLC1 year

Service code 26 · EIN 33-0818667

Advisory (Participants)

$213,803

FARBER HASS HURLEY LLP10+ years

Filed as: FABER HASS HURLEY LLP

Service code 10 · EIN 20-4207759

Accounting

$18,805

NORTHBAY HEALTHCARE 403(B) RETIREMENT PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NORTHBAY HEALTHCARE 403(B) RETIREMENT PLAN

Top hat statement on fileNQDC

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