Retirement plan

CENTRIC HEALTH 401(K) PLAN

Name: CENTRIC HEALTH - CENTRIC HEALTH 401(K) PLAN (2023) Form 5500
Creator: CENTRIC HEALTH
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CENTRIC HEALTH 401(K) PLAN, CENTRIC HEALTH

CENTRIC HEALTHEIN 95-3511288Plan #002PY 2023

11612 BOLTHOUSE DRIVE SUITE 200 - BAKERSFIELD, CA 93311661-323-8384centrichealthca.comLinkedIn1-10 employees

Prospect flagsLow returnsLow fidelity bondCorrective distributions

How to read this page

Total assets (EOY)

$15.1M

+14.1% from 2022

Total participants

348

-11.2% from 2022

Average account balance

$46,377

+35.9% from 2022

Annual return

12.58%

+26.65 pp from 2022

Benchmarks

See 4,036 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort4,036 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$15.26M

Not enough data

1 years with asset history on file

Average account balance

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

$41K

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.

368

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.

96.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.47M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+10.88%

Not enough data

1 years with return on file

Admin fee / account holder

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

$153

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 2 by compensation

Provider	Service type	Compensation
TRI-AD ACTUARIES, INC.6 years Service code 13 · EIN 95-2887986	Contract Administrator	$55,632
CHARLES SCHWAB & CO., INC.6 years Service code 59 · EIN 94-1737782	Shareholder Servicing	$0

Plan features & details

Pension benefit codes2A2E2F2G2J2T3D

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.
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 returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$56K

$215 / participant

Contract admin$56K100.0%

% of EOY assets

0.369%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: BARBICH HOOPER KING DILL HOFFMAN
Auditor EIN: 953705481
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$46,377

$47,180-1.7%

$149,723-69.0%

$74,473-37.7%

Participation rate

91.1%

63.4%+27.7pp

78.8%+12.3pp

70.7%+20.4pp

Annual return

12.58%

22.75%-10.2pp

134.50%-121.9pp

34.36%-21.8pp

Employer contribution / active EE

$1,642

$1,907-13.9%

$4,821-65.9%

$2,638-37.8%

Participant deferral / active EE

$4,736

$2,730+73.4%

$5,682-16.7%

$4,530+4.5%

Admin fee / account holder

$171

$343-50.1%

$13,215-98.7%

$347-50.7%

Provider

Service type

Compensation

TRI-AD ACTUARIES, INC.6 years

Service code 13 · EIN 95-2887986

Contract Administrator

$55,632

CHARLES SCHWAB & CO., INC.6 years

Service code 59 · EIN 94-1737782

Shareholder Servicing

CENTRIC HEALTH 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CENTRIC HEALTH 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