Retirement plan

GATHERWELL RETIREMENT SAVINGS PLAN

Name: GATHERWELL, PLLC - GATHERWELL RETIREMENT SAVINGS PLAN (2024) Form 5500
Creator: GATHERWELL, PLLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GATHERWELL RETIREMENT SAVINGS PLAN, GATHERWELL, PLLC

GATHERWELL, PLLCEIN 85-2083801Plan #001PY 2024

17565 CENTRAL AVENUE NE, SUITE 220 - HAM LAKE, MN 55304612-806-1546gatherwellmn.comLinkedIn11-50 employeeshospital & health care

Prospect flagsLow assets / participantLow participant contribution

How to read this page

Total assets (EOY)

$245K

+17.7% from 2023

Total participants

+9.5% from 2023

Average account balance

$11,139

+12.4% from 2023

Annual return

12.30%

-2.94 pp from 2023

Benchmarks

See 109,389 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort109,389 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$245K

Not enough data

1 years with asset history on file

Average account balance

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

$11K

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.

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.

244.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$12K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+12.30%

Not enough data

1 years with return on file

Admin fee / account holder

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

$86

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J2T3D3H

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.
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

2 tripped

OpportunityLow participant contribution
Participant 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.

Expense breakdown

Schedule H Part II

Admin total

$2K

$210 / participant

Other / not subdivided$2K100.0%

% of EOY assets

0.770%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$11,139

$183,592-93.9%

$155,574-92.8%

$145,877-92.4%

Participation rate

88.9%

82.7%+6.2pp

78.2%+10.7pp

80.3%+8.6pp

Annual return

12.30%

61.37%-49.1pp

64.87%-52.6pp

551.28%-539.0pp

Employer contribution / active EE

$1,132

$5,317-78.7%

$4,676-75.8%

$4,663-75.7%

Participant deferral / active EE

$174

$6,466-97.3%

$5,629-96.9%

$6,691-97.4%

Admin fee / account holder

$86

$19,316-99.6%

$15,914-99.5%

$13,402-99.4%

GATHERWELL RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GATHERWELL RETIREMENT SAVINGS 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