Retirement plan

IGNITE MEDICAL RESORTS EMPLOYEE 401(K) PLAN

Name: IGNITE TEAM PARTNERS, LLC - IGNITE MEDICAL RESORTS EMPLOYEE 401(K) PLAN (2022) Form 5500
Creator: IGNITE TEAM PARTNERS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IGNITE MEDICAL RESORTS EMPLOYEE 401(K) PLAN, IGNITE TEAM PARTNERS, LLC

IGNITE TEAM PARTNERS, LLCEIN 82-3928071Plan #002PY 2022

1550 NORTH NORTHWEST HWY., SUITE 430 - PARK RIDGE, IL 60068312-533-0332

Other plans on this EIN

1 filing

#001Retirement-$734K assets

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

How to read this page

Total assets (EOY)

$2.2M

+31.3% from 2021

Total participants

950

+28.6% from 2021

Average account balance

$11,945

-14.8% from 2021

Annual return

-0.78%

-58.17 pp from 2021

Benchmarks

See 934 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants250-999

Cohort934 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$13.14M

Not enough data

1 years with asset history on file

Average account balance

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

$3K

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.

3,963

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.

95.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.30M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+49.38%

Not enough data

1 years with return on file

Admin fee / account holder

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

$20

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 6 by compensation

Provider	Service type	Compensation
HOKIN INVESTMENT ADVISORS1 year Filed as: HOKIN INVESTMENT ADVISORS LLC Service code 51 · EIN 20-5320732 707 SKOKIE BLVD · NORTHBROOK, IL 60062	Investment Mgmt Fees	$9,401
NATIONWIDE1 year Service code 18 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215	Investment advisory (plan); Recordkee...	$8,083
STADION MONEY MANAGEMENT1 year Filed as: STADION MONEY MANAGEMENT, LLC Service code 51 · EIN 45-1564286 1061 CLIFF DAWSON ROAD · WATKINSVILLE, GA 30677	Investment Mgmt Fees	$2,112
IRON-CO-FID-COMPREHENSIVE1 year Filed as: IRON ADMINISTRATION CREATIVE PLANNI Service code 15 · EIN 43-1270780 5400 W. 110TH STREET · OVERLAND PARK, KS 66211	Recordkeeping	$1,175
INDEX CORE - PASSIVE THROUGH TARGET1 year Service code 51 · EIN 26-2409128 5440 W 110TH ST · SHAWNEE MISSION, KS 66211	Investment Mgmt Fees	$939
NATIONWIDE1 year Filed as: NATIONWIDE LIFE INSURANCE COMPANY Service code 51 · EIN 31-4156830 10 W NATIONWIDE BLVD 5-05-111V · COLUMBUS, OH 43215	Investment Mgmt Fees	$131

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.

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.
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

$22K

$25 / participant

Investment mgmt$13K59.9%
Contract admin$1K5.5%
Other / not subdivided$8K34.6%

% of EOY assets

0.972%

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: MARCUM, LLP
Auditor EIN: 111986323
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$11,945

$47,766-75.0%

$82,763-85.6%

$64,824-81.6%

Participation rate

14.4%

67.7%-53.3pp

72.6%-58.2pp

71.5%-57.1pp

Annual return

-0.78%

-13.06%+12.3pp

702.45%-703.2pp

32.84%-33.6pp

Employer contribution / active EE

$65

$2,182-97.0%

$3,008-97.9%

$2,507-97.4%

Participant deferral / active EE

$749

$3,332-77.5%

$4,395-83.0%

$4,311-82.6%

Admin fee / account holder

$116

$143-18.8%

$5,325-97.8%

$188-38.2%

Provider

Service type

Compensation

HOKIN INVESTMENT ADVISORS1 year

Filed as: HOKIN INVESTMENT ADVISORS LLC

Service code 51 · EIN 20-5320732

707 SKOKIE BLVD · NORTHBROOK, IL 60062

Investment Mgmt Fees

$9,401

NATIONWIDE1 year

Service code 18

ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215

Investment advisory (plan); Recordkee...

$8,083

STADION MONEY MANAGEMENT1 year

Filed as: STADION MONEY MANAGEMENT, LLC

Service code 51 · EIN 45-1564286

1061 CLIFF DAWSON ROAD · WATKINSVILLE, GA 30677

Investment Mgmt Fees

$2,112

IRON-CO-FID-COMPREHENSIVE1 year

Filed as: IRON ADMINISTRATION CREATIVE PLANNI

Service code 15 · EIN 43-1270780

5400 W. 110TH STREET · OVERLAND PARK, KS 66211

Recordkeeping

$1,175

INDEX CORE - PASSIVE THROUGH TARGET1 year

Service code 51 · EIN 26-2409128

5440 W 110TH ST · SHAWNEE MISSION, KS 66211

Investment Mgmt Fees

$939

NATIONWIDE1 year

Filed as: NATIONWIDE LIFE INSURANCE COMPANY

Service code 51 · EIN 31-4156830

10 W NATIONWIDE BLVD 5-05-111V · COLUMBUS, OH 43215

Investment Mgmt Fees

$131

IGNITE MEDICAL RESORTS EMPLOYEE 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IGNITE MEDICAL RESORTS EMPLOYEE 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