Retirement plan

403(B) THRIFT PLAN FOR EMPLOYEES OF HEALTH CHOICE NETWORK, INC.

Name: HEALTH CHOICE NETWORK, INC - 403(B) THRIFT PLAN FOR EMPLOYEES OF HEALTH CHOICE NETWORK, INC. (2024) Form 5500
Creator: HEALTH CHOICE NETWORK, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 403(B) THRIFT PLAN FOR EMPLOYEES OF HEALTH CHOICE NETWORK, INC., HEALTH CHOICE NETWORK, INC

HEALTH CHOICE NETWORK, INCEIN 90-0525658Plan #001PY 2024

9064 NW 13TH TER - DORAL, FL 331722907305-599-1015hcnetwork.orgLinkedIn51-200 employeeshospital & health care

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$10.9M

+46.8% from 2023

Total participants

214

+1.4% from 2023

Average account balance

$53,425

+42.4% from 2023

Annual return

34.12%

+0.49 pp from 2023

Benchmarks

See 6,007 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort6,007 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$10.90M

Not enough data

1 years with asset history on file

Average account balance

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

$53K

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.

204

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.

94.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.40M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+34.12%

Not enough data

1 years with return on file

Admin fee / account holder

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

$117

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

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 codes2F2G2S2T3D

Plan features

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

1 tripped

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

$24K

$123 / participant

Other / not subdivided$24K100.0%

% of EOY assets

0.219%

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: WITHUMSMITH+BROWN, PC
Auditor EIN: 222027092
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$53,425

$55,446-3.6%

$155,574-65.7%

$74,429-28.2%

Participation rate

94.8%

61.9%+32.9pp

78.2%+16.6pp

67.2%+27.6pp

Annual return

34.12%

269.20%-235.1pp

64.87%-30.7pp

1368.38%-1334.3pp

Employer contribution / active EE

$3,210

$2,266+41.6%

$4,676-31.4%

$2,625+22.3%

Participant deferral / active EE

$4,050

$2,836+42.8%

$5,629-28.0%

$4,348-6.9%

Admin fee / account holder

$117

$1,743-93.3%

$15,914-99.3%

$1,944-94.0%

403(B) THRIFT PLAN FOR EMPLOYEES OF HEALTH CHOICE NETWORK, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

403(B) THRIFT PLAN FOR EMPLOYEES OF HEALTH CHOICE NETWORK, INC.

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