Retirement plan

NORWICHTOWN AND NEW LONDON REHAB & CARE CENTER 401(K) PLAN

Name: NORWICH CONVALESCENT HOME, INC - NORWICHTOWN AND NEW LONDON REHAB & CARE CENTER 401(K) PLAN (2022) Form 5500
Creator: NORWICH CONVALESCENT HOME, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NORWICHTOWN AND NEW LONDON REHAB & CARE CENTER 401(K) PLAN, NORWICH CONVALESCENT HOME, INC

NORWICH CONVALESCENT HOME, INCEIN 82-0737214Plan #001PY 2022

93 WEST TOWN STREET - NORWICH, CT 06360860-889-2614

Prospect flagsLow participationLow assets / participantRecently reached 100 employeesLow fidelity bond

How to read this page

Total assets (EOY)

$1.2M

+7.4% from 2021

Total participants

237

+7.2% from 2021

Average account balance

$12,032

-23.2% from 2021

Annual return

-17.63%

-29.91 pp from 2021

Benchmarks

See 5,350 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,350 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.23M

Not enough data

1 years with asset history on file

Average account balance

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

$22K

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.

101

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.

21.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$392K

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

+12.00%

Not enough data

1 years with return on file

Admin fee / account holder

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

$57

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 2 by compensation

Provider	Service type	Compensation
JIM HALLINAN PENSION CONSULTING LLC4+ years Service code 10 · EIN 51-0523358 77 SOUTH MAIN STREET · WEST HARTFORD, CT 06107	Accounting	$3,835
AMERICAN FUNDS4+ years Filed as: CAPITAL BANK & TRUST Service code 15 6456 IRVINE CENTER DRIVE · IRVINE, CA 92618	Recordkeeping	$975

Plan features & details

Pension benefit codes2A2E2F2G2J2K2T3D3H

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.
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

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$5K

$27 / participant

Other / not subdivided$5K100.0%

% of EOY assets

0.392%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: PDR CPAS + ADVISORS
Auditor EIN: 591687531
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$12,032

$65,083-81.5%

$143,788-91.6%

$66,930-82.0%

Participation rate

25.4%

65.2%-39.8pp

80.3%-54.9pp

69.8%-44.4pp

Annual return

-17.63%

-11.13%-6.5pp

-0.03%-17.6pp

1.57%-19.2pp

Employer contribution / active EE

$679

$2,361-71.2%

$4,952-86.3%

$2,545-73.3%

Participant deferral / active EE

$1,336

$2,920-54.2%

$5,638-76.3%

$4,238-68.5%

Admin fee / account holder

$47

$502-90.6%

$14,675-99.7%

$593-92.1%

Provider

Service type

Compensation

JIM HALLINAN PENSION CONSULTING LLC4+ years

Service code 10 · EIN 51-0523358

77 SOUTH MAIN STREET · WEST HARTFORD, CT 06107

Accounting

$3,835

AMERICAN FUNDS4+ years

Filed as: CAPITAL BANK & TRUST

Service code 15

6456 IRVINE CENTER DRIVE · IRVINE, CA 92618

Recordkeeping

$975

NORWICHTOWN AND NEW LONDON REHAB & CARE CENTER 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NORWICHTOWN AND NEW LONDON REHAB & CARE CENTER 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