Retirement plan

SHERMAN GROUP RETIREMENT PLAN

Name: EDGEWOOD MANOR OF WELLSTON - SHERMAN GROUP RETIREMENT PLAN (2024) Form 5500
Creator: EDGEWOOD MANOR OF WELLSTON
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SHERMAN GROUP RETIREMENT PLAN, EDGEWOOD MANOR OF WELLSTON

EDGEWOOD MANOR OF WELLSTONEIN 82-2279548Plan #001PY 2024

405 NORTH PARK AVE - WELLSTON, OH 45692740-384-5611

Prospect flagsLow returnsLow participationLow assets / participantLow employer contributionLow fidelity bondFailed to transmit contributions

How to read this page

Total assets (EOY)

$1.6M

+26.7% from 2023

Total participants

625

-0.6% from 2023

Average account balance

$3,666

+12.0% from 2023

Annual return

7.77%

-2.70 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

$1.64M

Not enough data

1 years with asset history on file

Average account balance

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

$4K

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.

448

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.

66.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$497K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$930

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

+7.77%

Not enough data

1 years with return on file

Admin fee / account holder

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

$214

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 5 by compensation

Provider	Service type	Compensation
PENSION ASSURANCE LLP5+ years Filed as: THE PENSION SERVICE INC. Service code 15 · EIN 16-1613026 616 NORTH FRENCH ROAD · AMHERST, NY 14228	Recordkeeping	$37,759
TPS GROUP 3(16) SERVICES, LLC5+ years Service code 14 · EIN 82-3348747 616 NORTH FRENCH ROAD · AMHERST, NY 14228	Plan Administrator	$27,970
NORTH AMERICAN KTRADE ALLIANCE, LLC3 years Service code 15 · EIN 32-0169227 1500 NORTH OAK DRIVE · PLYMOUTH, IN 46563	Recordkeeping	$15,612
EFPR GROUP, CPAS, PLLC4 years Filed as: EFPR GROUP CPAS PLLC Service code 10 6390 MAIN ST SUITE 200 · WILLIAMSVILLE, NY 14221	Accounting	$7,500
CETERA ADVISOR NETWORKS LLC1 year Filed as: CETERA INVESTMENT ADVISERS LLC Service code 26 · EIN 36-3258176 2301 ROSECRANS AVENUE · EL SEGUNDO, CA 90245	Advisory (Participants)	$7,167

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T2X3D3H

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.
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.
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.
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

6 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
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).
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$96K

$180 / participant

Recordkeeping$7K7.0%
Trustee / custodial$5K5.5%
Investment mgmt$7K7.6%
Contract admin$43K45.1%
Other / not subdivided$33K34.7%

% of EOY assets

5.839%

all-in expense ratio

Categories reported

4 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: EFPR GROUP, CPAS, PLLC
Auditor EIN: 474526160
Audit fees: $7,500
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$3,666

$50,919-92.8%

$155,556-97.6%

$77,762-95.3%

Participation rate

66.9%

63.1%+3.8pp

78.2%-11.4pp

70.6%-3.7pp

Annual return

7.77%

34.84%-27.1pp

64.84%-57.1pp

31.27%-23.5pp

Employer contribution / active EE

$10

$1,991-99.5%

$4,675-99.8%

$2,728-99.6%

Participant deferral / active EE

$920

$2,824-67.4%

$5,631-83.7%

$4,651-80.2%

Admin fee / account holder

$214

$437-51.0%

$15,885-98.7%

$433-50.6%

Provider

Service type

Compensation

PENSION ASSURANCE LLP5+ years

Filed as: THE PENSION SERVICE INC.

Service code 15 · EIN 16-1613026

616 NORTH FRENCH ROAD · AMHERST, NY 14228

Recordkeeping

$37,759

TPS GROUP 3(16) SERVICES, LLC5+ years

Service code 14 · EIN 82-3348747

616 NORTH FRENCH ROAD · AMHERST, NY 14228

Plan Administrator

$27,970

NORTH AMERICAN KTRADE ALLIANCE, LLC3 years

Service code 15 · EIN 32-0169227

1500 NORTH OAK DRIVE · PLYMOUTH, IN 46563

Recordkeeping

$15,612

EFPR GROUP, CPAS, PLLC4 years

Filed as: EFPR GROUP CPAS PLLC

Service code 10

6390 MAIN ST SUITE 200 · WILLIAMSVILLE, NY 14221

Accounting

$7,500

CETERA ADVISOR NETWORKS LLC1 year

Filed as: CETERA INVESTMENT ADVISERS LLC

Service code 26 · EIN 36-3258176

2301 ROSECRANS AVENUE · EL SEGUNDO, CA 90245

Advisory (Participants)

$7,167

SHERMAN GROUP RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SHERMAN GROUP RETIREMENT 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