Retirement plan

SOUND EMPLOYEES RETIREMENT PLAN

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

SOUNDEIN 91-0818971Plan #001PY 2024

6400 SOUTHCENTER BLVD - TUKWILA, WA 98188206-302-2200sound.healthLinkedIn201-500 employeesmental health care

Prospect flagsLow returns

How to read this page

Total assets (EOY)

$41.5M

+9.0% from 2023

Total participants

1,173

-5.3% from 2023

Average account balance

$35,413

+13.7% from 2023

Annual return

8.99%

-6.25 pp from 2023

Benchmarks

See 4,134 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort4,134 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$41.54M

Not enough data

1 years with asset history on file

Average account balance

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

$35K

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.

1,173

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.94M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+8.99%

Not enough data

1 years with return on file

Admin fee / account holder

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

$142

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 1 by compensation

Provider	Service type	Compensation
BENEFIT ADMINISTRATION, INC.10+ years Filed as: BENEFIT ADMINISTRATION CO. Service code 13 · EIN 91-1999591	Contract Administrator	$136,587

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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.

Opportunity flags

1 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$166K

$333 / participant

Contract admin$166K100.0%

% of EOY assets

0.400%

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: BAKER TILLY
Auditor EIN: 301413443
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$35,413

$50,820-30.3%

$155,567-77.2%

$77,671-54.4%

Participation rate

100.0%

63.1%+36.9pp

78.2%+21.8pp

70.6%+29.4pp

Annual return

8.99%

34.85%-25.9pp

64.74%-55.7pp

31.21%-22.2pp

Employer contribution / active EE

$2,797

$1,993+40.4%

$4,674-40.2%

$2,726+2.6%

Participant deferral / active EE

$5,100

$2,823+80.6%

$5,628-9.4%

$4,648+9.7%

Admin fee / account holder

$142

$436-67.5%

$15,916-99.1%

$430-67.1%

Provider

Service type

Compensation

BENEFIT ADMINISTRATION, INC.10+ years

Filed as: BENEFIT ADMINISTRATION CO.

Service code 13 · EIN 91-1999591

Contract Administrator

$136,587

SOUND EMPLOYEES RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SOUND EMPLOYEES 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