Retirement plan

CENTER FOR BENEFITS MANAGEMENT RETIREMENT SAVINGS PLAN

Name: CENTER FOR BENEFITS MANAGEMENT, INC. - CENTER FOR BENEFITS MANAGEMENT RETIREMENT SAVINGS PLAN (2024) Form 5500
Creator: CENTER FOR BENEFITS MANAGEMENT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CENTER FOR BENEFITS MANAGEMENT RETIREMENT SAVINGS PLAN, CENTER FOR BENEFITS MANAGEMENT, INC.

CENTER FOR BENEFITS MANAGEMENT, INC.EIN 74-3144644Plan #001PY 2024

24651 CENTER RIDGE RD - WESTLAKE, OH 441455635440-892-2600LinkedIn1-10 employeesinsurance

Prospect flagsHigh feesHigh assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$3.7M

+7.3% from 2023

Total participants

-17.6% from 2023

Average account balance

$281,026

+32.1% from 2023

Annual return

12.60%

-1.44 pp from 2023

Benchmarks

See 37,087 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort37,087 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.65M

Not enough data

1 years with asset history on file

Average account balance

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

$281K

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.

108.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$176K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

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

+12.60%

Not enough data

1 years with return on file

Admin fee / account holder

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

$28958

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 codes2E2F2G2J2T3D

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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$376K

$31372 / participant

Other / not subdivided$376K100.0%

% of EOY assets

10.304%

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

$281,026

$201,372+39.6%

$184,260+52.5%

$145,884+92.6%

Participation rate

91.7%

87.5%+4.2pp

86.8%+4.8pp

80.3%+11.4pp

Annual return

12.60%

29.04%-16.4pp

28.84%-16.2pp

551.85%-539.2pp

Employer contribution / active EE

$3,191

$7,024-54.6%

$6,427-50.3%

$4,662-31.6%

Participant deferral / active EE

$11,496

$9,808+17.2%

$9,133+25.9%

$6,690+71.8%

Admin fee / account holder

$28,958

$16,362+77.0%

$13,898+108.4%

$13,392+116.2%

CENTER FOR BENEFITS MANAGEMENT RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CENTER FOR BENEFITS MANAGEMENT RETIREMENT SAVINGS 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