Retirement plan

BETTER HEALTH RETIREMENT PLAN

Name: BETTER HEALTH GROUP SERVICES, INC. - BETTER HEALTH RETIREMENT PLAN (2024) Form 5500
Creator: BETTER HEALTH GROUP SERVICES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BETTER HEALTH RETIREMENT PLAN, BETTER HEALTH GROUP SERVICES, INC.

BETTER HEALTH GROUP SERVICES, INC.EIN 87-3709729Plan #002PY 2024

601 S. HARBOUR ISLAND BLVD, SUITE 200 - TAMPA, FL 33602407-808-9653betterhealthgroup.comLinkedIn501-1000 employeeshospital & health care

Prospect flagsLow participationFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$29.4M

+43.7% from 2023

Total participants

1,201

+5.5% from 2023

Average account balance

$44,261

+19.5% from 2023

Annual return

30.51%

-42.12 pp from 2023

Benchmarks

See 1,436 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants1,000-4,999

Cohort1,436 peers

Snapshot2024

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$29.39M

Not enough data

1 years with asset history on file

Average account balance

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

$44K

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.

664

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.

46.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.83M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+30.51%

Not enough data

1 years with return on file

Admin fee / account holder

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

$151

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

See the 4-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
AMERITAS LIFE INSURANCE CORP2 years Service code 12 · EIN 47-0098400	Participant loan processing; Account ...	$53,154
INVST4+ years Service code 26 · EIN 81-1661697	Advisory (Participants)	$41,399
CHARLES SCHWAB & CO., INC.3 years Filed as: CHARLES SCHWAB BANK Service code 19 · EIN 82-3967259	Securities Custodian	$5,740

Plan features & details

Pension benefit codes2A2E2F2G2J2K2T3D

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.

Opportunity flags

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$100K

$100 / participant

Trustee / custodial$6K5.7%
Investment mgmt$41K41.3%
Contract admin$53K53.0%

% of EOY assets

0.341%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: DGPERRY, PLLC
Auditor EIN: 833033790
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$44,261

$53,136-16.7%

$155,509-71.5%

$199,593-77.8%

Participation rate

46.6%

64.1%-17.5pp

78.2%-31.6pp

72.0%-25.4pp

Annual return

30.51%

41.15%-10.6pp

64.67%-34.2pp

34.25%-3.7pp

Employer contribution / active EE

$1,505

$1,851-18.7%

$4,672-67.8%

$3,034-50.4%

Participant deferral / active EE

$3,304

$3,161+4.5%

$5,626-41.3%

$5,087-35.0%

Admin fee / account holder

$151

$185-18.5%

$15,912-99.1%

$269-43.8%

Provider

Service type

Compensation

AMERITAS LIFE INSURANCE CORP2 years

Service code 12 · EIN 47-0098400

Participant loan processing; Account ...

$53,154

INVST4+ years

Service code 26 · EIN 81-1661697

Advisory (Participants)

$41,399

CHARLES SCHWAB & CO., INC.3 years

Filed as: CHARLES SCHWAB BANK

Service code 19 · EIN 82-3967259

Securities Custodian

$5,740

BETTER HEALTH RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BETTER HEALTH RETIREMENT 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