Retirement plan

401(K) PLAN OF CAREPLUS BERGEN FOR UNION EMPLOYEES

Name: CAREPLUS BERGEN INC. - 401(K) PLAN OF CAREPLUS BERGEN FOR UNION EMPLOYEES (2022) Form 5500
Creator: CAREPLUS BERGEN INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 401(K) PLAN OF CAREPLUS BERGEN FOR UNION EMPLOYEES, CAREPLUS BERGEN INC.

CAREPLUS BERGEN INC.EIN 82-2081292Plan #002PY 2022

230 EAST RIDGEWOOD AVENUE - PARAMUS, NJ 07652201-967-4150careplusnj.orgLinkedIn501-1000 employeesindividual & family services

Other plans on this EIN

1 filing

#001Retirement-$26.9M assets

Prospect flagsLow participationCorrective distributions

How to read this page

Total assets (EOY)

$58.3M

-13.7% from 2021

Total participants

2,378

+8.8% from 2021

Average account balance

$55,024

-19.3% from 2021

Annual return

-13.14%

-23.64 pp from 2021

Benchmarks

See 1,377 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants1,000-4,999

Cohort1,377 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$77.98M

Not enough data

1 years with asset history on file

Average account balance

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

$65K

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.

1,197

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.

48.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$6.35M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+12.48%

Not enough data

1 years with return on file

Admin fee / account holder

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

$266

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
TIAA3 years Service code 15 · EIN 13-1624203	Recordkeeping	$193,408
CAPFINANCIAL PARTNERS LLC2 years Filed as: CAPFINANCIAL PARTNERS, LLC Service code 28 · EIN 26-0058143	Investment Management	$50,000

Plan features & details

Pension benefit codes2E2G2J2K3D

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.
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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$243K

$114 / participant

Investment mgmt$50K20.5%
Other / not subdivided$193K79.5%

% of EOY assets

0.417%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BDO USA LLP
Auditor EIN: 135381590
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$55,024

$45,000+22.3%

$143,799-61.7%

$77,906-29.4%

Participation rate

38.3%

66.8%-28.5pp

80.3%-42.0pp

73.7%-35.4pp

Annual return

-13.14%

29.03%-42.2pp

-0.04%-13.1pp

12.16%-25.3pp

Employer contribution / active EE

$320

$1,870-82.9%

$4,952-93.5%

$2,846-88.7%

Participant deferral / active EE

$2,106

$3,157-33.3%

$5,638-62.7%

$4,805-56.2%

Admin fee / account holder

$230

$98+133.3%

$14,677-98.4%

$133+73.2%

Provider

Service type

Compensation

TIAA3 years

Service code 15 · EIN 13-1624203

Recordkeeping

$193,408

CAPFINANCIAL PARTNERS LLC2 years

Filed as: CAPFINANCIAL PARTNERS, LLC

Service code 28 · EIN 26-0058143

Investment Management

$50,000

401(K) PLAN OF CAREPLUS BERGEN FOR UNION EMPLOYEES

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

401(K) PLAN OF CAREPLUS BERGEN FOR UNION EMPLOYEES

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