Retirement plan

AMARE MEDICAL NETWORK, INC. 401(K) PLAN

Name: AMARE MEDICAL NETWORK, INC. - AMARE MEDICAL NETWORK, INC. 401(K) PLAN (2022) Form 5500
Creator: AMARE MEDICAL NETWORK, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, AMARE MEDICAL NETWORK, INC. 401(K) PLAN, AMARE MEDICAL NETWORK, INC.

AMARE MEDICAL NETWORK, INC.EIN 86-3989253Plan #001PY 2022

40 LINCOLN WAY, SUITE 103 - IRWIN, PA 15642724-515-2337amaremedicalnetwork.comLinkedIn201-500 employeeshospital & health care

Prospect flagsLow participationLow employer contributionLow participant contribution

How to read this page

Total assets (EOY)

$1.7M

No prior year

Total participants

561

No prior year

Average account balance

$14,043

No prior year

Annual return

-11.79%

No prior year

Benchmarks

See 3,875 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort3,875 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.27M

Not enough data

1 years with asset history on file

Average account balance

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

$18K

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.

56.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$292K

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

+11.37%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6277

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

Top 4 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1+ years Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$8,502
COMMONWEALTH FINANCIAL NETWORK1+ years Filed as: COMMONWEALTH EQUITY SERVICES LLC Service code 27 29 SAWYER RD · WALTHAM, MA 024533483	Advisory (Plan)	$5,538
M2B RETIREMENT CONSULTING LLC1+ years Service code 13 · EIN 81-3989034 101 BRADFORD RD STE 200 · WEXFORD, PA 15090	Contract Administrator	$5,060
LPL FINANCIAL1+ years Service code 99 · EIN 95-2834236 PO BOX 502533 · SAN DIEGO, CA 92150	Other Fees	-$434

Plan features & details

Pension benefit codes2A2E2J2K2F2G3D2T3H

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.
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

3 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.

Expense breakdown

Schedule H Part II

Admin total

$18K

$34 / participant

Contract admin$18K100.0%

% of EOY assets

1.063%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: WILKE & ASSOCIATES, LLP
Auditor EIN: 251871694
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$14,043

$46,332-69.7%

$143,797-90.2%

$64,824-78.3%

Participation rate

15.8%

64.2%-48.4pp

80.3%-64.5pp

71.5%-55.7pp

Annual return

-11.79%

-10.05%-1.7pp

-0.04%-11.8pp

32.84%-44.6pp

Employer contribution / active EE

$354

$1,911-81.5%

$4,952-92.8%

$2,507-85.9%

Participant deferral / active EE

$660

$2,647-75.1%

$5,638-88.3%

$4,311-84.7%

Admin fee / account holder

$149

$154-3.0%

$14,679-99.0%

$188-20.5%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1+ years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$8,502

COMMONWEALTH FINANCIAL NETWORK1+ years

Filed as: COMMONWEALTH EQUITY SERVICES LLC

Service code 27

29 SAWYER RD · WALTHAM, MA 024533483

Advisory (Plan)

$5,538

M2B RETIREMENT CONSULTING LLC1+ years

Service code 13 · EIN 81-3989034

101 BRADFORD RD STE 200 · WEXFORD, PA 15090

Contract Administrator

$5,060

LPL FINANCIAL1+ years

Service code 99 · EIN 95-2834236

PO BOX 502533 · SAN DIEGO, CA 92150

Other Fees

-$434

AMARE MEDICAL NETWORK, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

AMARE MEDICAL NETWORK, INC. 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