Retirement plan

DISCOVERY BEHAVIORAL HEALTH 401(K) PLAN

Name: DISCOVERY PRACTICE MANAGEMENT, INC. - DISCOVERY BEHAVIORAL HEALTH 401(K) PLAN (2022) Form 5500
Creator: DISCOVERY PRACTICE MANAGEMENT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, DISCOVERY BEHAVIORAL HEALTH 401(K) PLAN, DISCOVERY PRACTICE MANAGEMENT, INC.

DISCOVERY PRACTICE MANAGEMENT, INC.dba DISCOVERY BEHAVIORAL HEALTHEIN 95-4628972Plan #001PY 2022

18401 VON KARMAN AVE, STE. 500 - IRVINE, CA 92612714-828-1800LinkedIn1-10 employeesmental health care

Prospect flagsLow returnsLow assets / participantFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$23.5M

+9.9% from 2021

Total participants

3,961

+14.4% from 2021

Average account balance

$6,235

-3.3% from 2021

Annual return

-18.40%

-39.48 pp from 2021

Benchmarks

See 1,377 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants1,000-4,999

Cohort1,377 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$38.05M

Not enough data

1 years with asset history on file

Average account balance

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

$12K

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.

3,091

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.

84.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$7.39M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+13.78%

Not enough data

1 years with return on file

Admin fee / account holder

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

$98

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 3 by compensation

Provider	Service type	Compensation
STANCORP FINANCIAL GROUP4 years Service code 12 · EIN 93-1253576	Direct payment from the plan; Custodi...	$278,488
GLOBAL RETIREMENT PARTNERS LLC4 years Filed as: GLOBAL RETIREMENT PARTNERS, LLC Service code 27 · EIN 47-1411118	Advisory (Plan)	$40,000
RELIANCE TRUST COMPANY3 years Service code 19 · EIN 58-1428634	Securities Custodian	$6,590

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D3H

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.
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.
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.
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

4 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match 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

$318K

$118 / participant

Contract admin$318K100.0%

% of EOY assets

1.354%

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: HOLTHOUSE CARLIN & VAN TRIGT LLP
Auditor EIN: 954345526
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$6,235

$45,000-86.1%

$143,799-95.7%

$77,906-92.0%

Participation rate

93.1%

66.8%+26.3pp

80.3%+12.8pp

73.7%+19.4pp

Annual return

-18.40%

29.03%-47.4pp

-0.04%-18.4pp

12.16%-30.6pp

Employer contribution / active EE

$857

$1,870-54.2%

$4,952-82.7%

$2,846-69.9%

Participant deferral / active EE

$2,445

$3,157-22.5%

$5,638-56.6%

$4,805-49.1%

Admin fee / account holder

$84

$98-14.3%

$14,677-99.4%

$133-36.3%

Provider

Service type

Compensation

STANCORP FINANCIAL GROUP4 years

Service code 12 · EIN 93-1253576

Direct payment from the plan; Custodi...

$278,488

GLOBAL RETIREMENT PARTNERS LLC4 years

Filed as: GLOBAL RETIREMENT PARTNERS, LLC

Service code 27 · EIN 47-1411118

Advisory (Plan)

$40,000

RELIANCE TRUST COMPANY3 years

Service code 19 · EIN 58-1428634

Securities Custodian

$6,590

DISCOVERY BEHAVIORAL HEALTH 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

DISCOVERY BEHAVIORAL 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