Retirement plan

COMMONWEALTH SENIOR LIVING 401(K) PLAN

Name: COMMONWEALTH SENIOR LIVING, LLC - COMMONWEALTH SENIOR LIVING 401(K) PLAN (2024) Form 5500
Creator: COMMONWEALTH SENIOR LIVING, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, COMMONWEALTH SENIOR LIVING 401(K) PLAN, COMMONWEALTH SENIOR LIVING, LLC

COMMONWEALTH SENIOR LIVING, LLCEIN 84-1799859Plan #001PY 2024

915 EAST HIGH STREET - CHARLOTTESVILLE, VA 22902434-220-1055commonwealthsl.comLinkedIn1001-5000 employeeshospital & health care

Prospect flagsLow returnsHigh feesLow participationLow participant contribution

How to read this page

Total assets (EOY)

$7.5M

+18.1% from 2023

Total participants

2,830

-16.7% from 2023

Average account balance

$21,264

+23.5% from 2023

Annual return

12.07%

-3.52 pp from 2023

Benchmarks

See 1,431 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants1,000-4,999

Cohort1,431 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.55M

Not enough data

1 years with asset history on file

Average account balance

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

$21K

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.

355

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.

9.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.56M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$568

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

+12.07%

Not enough data

1 years with return on file

Admin fee / account holder

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

$300

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 3 by compensation

Provider	Service type	Compensation
THE VANGUARD GROUP, INC.4 years Service code 15 · EIN 23-1945930	Recordkeeping	$71,007
CETERA ADVISOR NETWORKS LLC4 years Filed as: CETERA INVESTMENT SERVICES. Service code 27 140 EASTSHORE DRIVE · GLEN ALLEN, VA 23059	Advisory (Plan)	$29,705
CLEARSTEAD ADVISORS, LLC1 year Filed as: CLEARSTEAD ADVISORS LLC Service code 27 · EIN 87-3258080	Advisory (Plan)	$5,874

Plan features & details

Pension benefit codes2A2E3D2G2J2K2F2T3F3H

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
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

4 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.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$107K

$39 / participant

Investment mgmt$36K33.4%
Contract admin$71K66.6%

% of EOY assets

1.412%

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: BROWN, EDWARDS & COMPANY, LLP
Auditor EIN: 540504608
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$21,264

$53,216-60.0%

$155,534-86.3%

$199,960-89.4%

Participation rate

9.7%

64.1%-54.4pp

78.2%-68.5pp

72.0%-62.3pp

Annual return

12.07%

41.18%-29.1pp

64.92%-52.8pp

34.28%-22.2pp

Employer contribution / active EE

$203

$1,848-89.0%

$4,675-95.7%

$3,036-93.3%

Participant deferral / active EE

$365

$3,164-88.5%

$5,630-93.5%

$5,087-92.8%

Admin fee / account holder

$300

$186+61.7%

$15,900-98.1%

$269+11.5%

Provider

Service type

Compensation

THE VANGUARD GROUP, INC.4 years

Service code 15 · EIN 23-1945930

Recordkeeping

$71,007

CETERA ADVISOR NETWORKS LLC4 years

Filed as: CETERA INVESTMENT SERVICES.

Service code 27

140 EASTSHORE DRIVE · GLEN ALLEN, VA 23059

Advisory (Plan)

$29,705

CLEARSTEAD ADVISORS, LLC1 year

Filed as: CLEARSTEAD ADVISORS LLC

Service code 27 · EIN 87-3258080

Advisory (Plan)

$5,874

COMMONWEALTH SENIOR LIVING 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

COMMONWEALTH SENIOR LIVING 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