Retirement plan

METHODIST RETIREMENT COMMUNITIES & ITS AFFILIATED ORGANIZATIONS ASSOCIATES 401(K) PLAN

Name: METHODIST RETIREMENT COMMUNITIES - METHODIST RETIREMENT COMMUNITIES & ITS AFFILIATED ORGANIZATIONS ASSOCIATES 401(K) PLAN (2024) Form 5500
Creator: METHODIST RETIREMENT COMMUNITIES
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, METHODIST RETIREMENT COMMUNITIES & ITS AFFILIATED ORGANIZATIONS ASSOCIATES 401(K) PLAN, METHODIST RETIREMENT COMMUNITIES

METHODIST RETIREMENT COMMUNITIESEIN 74-1403088Plan #001PY 2024

1440 LAKE FRONT CIRCLE, SUITE 140 - THE WOODLANDS, TX 773803607281-363-2600mrcaff.orgLinkedIn1001-5000 employeeshospital & health care

Prospect flagsLow returnsLow participationCorrective distributions

How to read this page

Total assets (EOY)

$12.1M

+20.4% from 2023

Total participants

972

+48.6% from 2023

Average account balance

$25,861

+7.5% from 2023

Annual return

11.49%

-3.87 pp from 2023

Benchmarks

See 4,117 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort4,117 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$12.10M

Not enough data

1 years with asset history on file

Average account balance

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

$26K

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.

468

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.

42.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.82M

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

+11.49%

Not enough data

1 years with return on file

Admin fee / account holder

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

$212

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 3 by compensation

Provider	Service type	Compensation
BALLEW ADVISORS4 years Filed as: BALLEW ADVISORS, INC. Service code 26 · EIN 64-0797641	Advisory (Participants)	$31,443
COMPENSATION STRATEGIES GROUP, LTD.7 years Service code 17 · EIN 76-0188119	Pension Consulting	$12,331
JOHN HANCOCK LIFE INSURANCE COMPANY7 years Filed as: JOHN HANCOCK LIFE INSURANCE CO USA Service code 15 · EIN 01-0233346	Recordkeeping	$9,718

Plan features & details

Pension benefit codes2E2G2J2K2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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 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

$99K

$113 / participant

Investment mgmt$31K31.7%
Valuation$12K12.4%
Contract admin$55K55.8%

% of EOY assets

0.818%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CLIFTONLARSONALLEN LLP
Auditor EIN: 410746749
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$25,861

$50,919-49.2%

$155,556-83.4%

$77,762-66.7%

Participation rate

42.3%

63.1%-20.8pp

78.2%-36.0pp

70.6%-28.3pp

Annual return

11.49%

34.84%-23.3pp

64.84%-53.3pp

31.27%-19.8pp

Employer contribution / active EE

$744

$1,991-62.6%

$4,675-84.1%

$2,728-72.7%

Participant deferral / active EE

$1,343

$2,824-52.4%

$5,631-76.1%

$4,651-71.1%

Admin fee / account holder

$212

$437-51.5%

$15,885-98.7%

$433-51.1%

Provider

Service type

Compensation

BALLEW ADVISORS4 years

Filed as: BALLEW ADVISORS, INC.

Service code 26 · EIN 64-0797641

Advisory (Participants)

$31,443

COMPENSATION STRATEGIES GROUP, LTD.7 years

Service code 17 · EIN 76-0188119

Pension Consulting

$12,331

JOHN HANCOCK LIFE INSURANCE COMPANY7 years

Filed as: JOHN HANCOCK LIFE INSURANCE CO USA

Service code 15 · EIN 01-0233346

Recordkeeping

$9,718

METHODIST RETIREMENT COMMUNITIES & ITS AFFILIATED ORGANIZATIONS ASSOCIATES 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

METHODIST RETIREMENT COMMUNITIES & ITS AFFILIATED ORGANIZATIONS ASSOCIATES 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