Retirement plan

RAREBREED VETERINARY PARTNERS 401(K) PLAN

Name: PROJECT INSPIRE, INC. DBA RAREBREED VETERINARY P - RAREBREED VETERINARY PARTNERS 401(K) PLAN (2024) Form 5500
Creator: PROJECT INSPIRE, INC. DBA RAREBREED VETERINARY P
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RAREBREED VETERINARY PARTNERS 401(K) PLAN, PROJECT INSPIRE, INC. DBA RAREBREED VETERINARY P

PROJECT INSPIRE, INC. DBA RAREBREED VETERINARY PEIN 83-2102599Plan #001PY 2024

27 PEARL STREET - PORTLAND, ME 04101207-333-7580

Prospect flagsLow assets / participantFailed to transmit contributions

How to read this page

Total assets (EOY)

$66M

+38.4% from 2023

Total participants

3,639

+12.5% from 2023

Average account balance

$22,956

+29.0% from 2023

Annual return

18.02%

-63.42 pp from 2023

Benchmarks

See 949 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort949 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$66.02M

Not enough data

1 years with asset history on file

Average account balance

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

$23K

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.

2,876

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.

70.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$14.52M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+18.02%

Not enough data

1 years with return on file

Admin fee / account holder

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

$26

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
PENSION ASSURANCE LLP3 years Filed as: THE PENSION SERVICE, INC. Service code 49	Other Services	$26,563
VOYA RETIREMENT INSURANCE & ANNUITY5 years Filed as: VOYA RETIREMENT INSURANCE AND ANNUI Service code 26 · EIN 71-0294708 PO BOX 990067 · HARTFORD, CT 061991268	Advisory (Participants)	$20,535
MORNINGSTAR5 years Service code 27	Advisory (Plan)	$8,633
MORNINGSTAR3 years Filed as: MORNINSTAR Service code 27 · EIN 36-3297908	Advisory (Plan)	$0
PENSION ASSURANCE LLP3 years Filed as: THE PENSION SERVICE INC. Service code 49 · EIN 06-0874395 510 MAIN STREET STOP A · GORHAM, ME 04038	Other Services	$0

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

2 tripped

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).

Expense breakdown

Schedule H Part II

Admin total

$75K

$29 / participant

Other / not subdivided$75K100.0%

% of EOY assets

0.113%

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: BAKER, NEWMAN & NOYES, LLC
Auditor EIN: 010494526
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$22,956

$122,128-81.2%

$147,080-84.4%

$199,960-88.5%

Participation rate

70.8%

78.2%-7.3pp

82.2%-11.3pp

72.0%-1.2pp

Annual return

18.02%

30.58%-12.6pp

420.17%-402.1pp

34.28%-16.3pp

Employer contribution / active EE

$1,788

$4,093-56.3%

$4,933-63.8%

$3,036-41.1%

Participant deferral / active EE

$3,760

$8,484-55.7%

$8,066-53.4%

$5,087-26.1%

Admin fee / account holder

$26

$180-85.5%

$12,989-99.8%

$269-90.4%

Provider

Service type

Compensation

PENSION ASSURANCE LLP3 years

Filed as: THE PENSION SERVICE, INC.

Service code 49

Other Services

$26,563

VOYA RETIREMENT INSURANCE & ANNUITY5 years

Filed as: VOYA RETIREMENT INSURANCE AND ANNUI

Service code 26 · EIN 71-0294708

PO BOX 990067 · HARTFORD, CT 061991268

Advisory (Participants)

$20,535

MORNINGSTAR5 years

Service code 27

Advisory (Plan)

$8,633

MORNINGSTAR3 years

Filed as: MORNINSTAR

Service code 27 · EIN 36-3297908

Advisory (Plan)

PENSION ASSURANCE LLP3 years

Filed as: THE PENSION SERVICE INC.

Service code 49 · EIN 06-0874395

510 MAIN STREET STOP A · GORHAM, ME 04038

Other Services

RAREBREED VETERINARY PARTNERS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RAREBREED VETERINARY PARTNERS 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