Retirement plan

SMART CARE SOLUTIONS 401(K) PLAN

Name: EEC ACQUISITIONS, LLC DBA SMART CARE EQUIPMENT SOLUTIONS - SMART CARE SOLUTIONS 401(K) PLAN (2024) Form 5500
Creator: EEC ACQUISITIONS, LLC DBA SMART CARE EQUIPMENT SOLUTIONS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SMART CARE SOLUTIONS 401(K) PLAN, EEC ACQUISITIONS, LLC DBA SMART CARE EQUIPMENT SOLUTIONS

EEC ACQUISITIONS, LLC DBA SMART CARE EQUIPMENT SOLUTIONSEIN 82-3154334Plan #001PY 2024

370 WABASHA STREET NORTH - ST. PAUL, MN 55102612-509-4651

Prospect flagsLow participationLow assets / participantLow employer contributionLow participant contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$61.1M

+36.0% from 2023

Total participants

2,288

-4.7% from 2023

Average account balance

$44,798

+25.4% from 2023

Annual return

32.10%

+13.32 pp from 2023

Benchmarks

See 839 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants1,000-4,999

Cohort839 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$61.15M

Not enough data

1 years with asset history on file

Average account balance

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

$45K

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.

1,365

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.

51.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$8.51M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+32.10%

Not enough data

1 years with return on file

Admin fee / account holder

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

$203

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 5 by compensation

Provider	Service type	Compensation
MERCER1 year Filed as: MERCER INVESTMENTS, LLC Service code 16 · EIN 30-0282430	Consulting	$192,839
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$69,004
CLIFTONLARSONALLEN LLP1 year Filed as: CLIFTONLARSONALLEN, LLP Service code 10 P.O. BOX 829709 · PHILADELPHIA, PA 19182	Accounting	$12,636
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$1,325
FROEHLING ANDERSON1 year Filed as: FROEHLING ANDERSON LTD Service code 10 400 HWY 169 S, STE 400 · MINNEAPOLIS, MN 55426	Accounting	$1,149

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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.
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 participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow employer contribution
Employer contribution per participant 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.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$277K

$145 / participant

Recordkeeping$69K24.9%
Investment mgmt$194K70.1%
Other / not subdivided$14K5.0%

% of EOY assets

0.453%

all-in expense ratio

Categories reported

2 / 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: $13,785
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$44,798

$110,258-59.4%

$102,460-56.3%

$200,096-77.6%

Participation rate

51.6%

86.3%-34.7pp

76.5%-24.9pp

72.0%-20.4pp

Annual return

32.10%

35.78%-3.7pp

29.47%+2.6pp

34.26%-2.2pp

Employer contribution / active EE

$1,321

$3,605-63.3%

$3,025-56.3%

$3,038-56.5%

Participant deferral / active EE

$3,146

$6,377-50.7%

$5,056-37.8%

$5,090-38.2%

Admin fee / account holder

$203

$122+65.9%

$9,460-97.9%

$269-24.7%

Provider

Service type

Compensation

MERCER1 year

Filed as: MERCER INVESTMENTS, LLC

Service code 16 · EIN 30-0282430

Consulting

$192,839

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$69,004

CLIFTONLARSONALLEN LLP1 year

Filed as: CLIFTONLARSONALLEN, LLP

Service code 10

P.O. BOX 829709 · PHILADELPHIA, PA 19182

Accounting

$12,636

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$1,325

FROEHLING ANDERSON1 year

Filed as: FROEHLING ANDERSON LTD

Service code 10

400 HWY 169 S, STE 400 · MINNEAPOLIS, MN 55426

Accounting

$1,149

SMART CARE SOLUTIONS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SMART CARE SOLUTIONS 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