Opco Ca Skilled Mgmt 401(k) match, vesting and fees
What Opco Ca Skilled Mgmt's 401(k) plan says about matching contributions
The Company may contribute discretionary matching contributions to participant accounts, which are determined annually. Discretionary employer matching contributions are equal to 50% of the employee’s deferral not to exceed 2% of compensation. Participants become eligible for discretionary matching contributions after 1,000 hours of service during the plan year and must be employed on the last day of the Plan year. For the purpose of employer matching contributions, employees begin receiving matching contributions on the day the eligibility requirements are satisfied. Management calculates and remits the discretionary employer matching contribution subsequent to year-end and, as such, these amounts are presented as employer contributions receivable at December 31, 2024 and 2023 in the accompanying statements of net assets available for benefits, if applicable. The Company elected not to make any discretionary matching contributions for 2024 or 2023.
Quoted directly from the filing. Plan terms may have changed; check your current Summary Plan Description.
Plan features
Indented passages are quoted word for word from the audit report; plan terms may have changed since, so check your current Summary Plan Description.
| Employer match | Quoted from the filing above | Audit report, p. 37 ↗ |
| Match vesting | Vesting: Participants are immediately vested in both their voluntary contributions and any discretionary employer contributions plus any related earnings thereon. | Audit report, p. 37 ↗ |
| Roth contributions | Contributions: Participants may make voluntary pre-tax contributions or after-tax (Roth) contributions by means of a salary deferral agreement of up to 90% of their compensation, subject to the Internal Revenue Service (IRS) limitations for the Plan year. Plan participants over the age of 50 are also permitted to make additional pre-tax and Roth catch-up contributions ($7,500 in 2024). | Audit report, p. 36 ↗ |
| Loans | Notes receivable from participants: Participants may borrow from their fund accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of their vested account balance. Loan terms may not exceed five years unless the purpose of the loan is to purchase the participant’s primary residence. The loans are secured by the vested balance in the participant's account and bear interest at a rate determined by the plan administrator, currently the prime interest rate at the time of the loan plus 2%. | Audit report, p. 37 ↗ |
| Recordkeeper | John Hancock Life Insurance Company | Schedule C ↗ |
| Independent auditor | Pease Bell Cpas, LLC (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
| Late participant contributions | Reported on the filing | Schedule H ↗ |
All rows are from the plan year 2024 filing; plan features from its audit report.
How the plan compares
Plan year 2024 medians for 7,678 defined-contribution plans in health care and social assistance with 100 to 499 participants.
| Opco Ca Skilled Mgmt: employer contribution per participant | — | |
| Peer median | $1,468 |
| Opco Ca Skilled Mgmt: average balance | $18,393 | |
| Peer median | $37,786 |
| Opco Ca Skilled Mgmt: admin expenses ÷ assets | 1.12% | |
| Peer median | 0.39% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $2.7M at the end of plan year 2021 to $5.8M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 4,642 | $5.8M | — | — | 1.12% | Quoted in the audit report, p. 37 ↗ | Form 5500 ↗ |
| 2023 | 4,787 | $3.8M | $0 | $0 | 1.15% | Not published | Form 5500 ↗ |
| 2022 | 3,036 | $2.7M | $1,797 | $7 | 1.37% | Not published | Form 5500 ↗ |
| 2021 | 3,346 | $2.7M | — | — | 1.10% | Not published | Form 5500 ↗ |
Common questions
Does Opco Ca Skilled Mgmt match 401(k) contributions?
The audit report attached to the Opco Ca 401(k) Plan's plan year 2024 Form 5500, page 37 says: “The Company may contribute discretionary matching contributions to participant accounts, which are determined annually. Discretionary employer matching contributions are equal to 50% of the employee’s deferral not to exceed 2% of compensation. Participants become eligible for discretionary matching contributions after 1,000 hours of service during the plan year and must be employed on the last day of the Plan year. For the purpose of employer matching contributions, employees begin receiving matching contributions on the day the eligibility requirements are satisfied. Management calculates and remits the discretionary employer matching contribution subsequent to year-end and, as such, these amounts are presented as employer contributions receivable at December 31, 2024 and 2023 in the accompanying statements of net assets available for benefits, if applicable. The Company elected not to make any discretionary matching contributions for 2024 or 2023.” Plan terms may have changed; check your current Summary Plan Description.
When is the Opco Ca Skilled Mgmt 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 37 says: “Vesting: Participants are immediately vested in both their voluntary contributions and any discretionary employer contributions plus any related earnings thereon.”
Who manages the Opco Ca Skilled Mgmt 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is John Hancock Life Insurance Company. The plan administrator is Opco Ca Skilled Mgmt Inc..
I left Opco Ca Skilled Mgmt. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Opco Ca Skilled Mgmt Inc., (323) 739-1242) or the recordkeeper, John Hancock Life Insurance Company. The Opco Ca Skilled Mgmt old 401(k) page lists the contacts from every plan filing. Find an old Opco Ca Skilled Mgmt 401(k)
Data from the public Form 5500 annual reports Opco Ca Skilled Mgmt filed with the U.S. Department of Labor (plan years 2021 and 2022 and 2023 and 2024) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with Opco Ca Skilled Mgmt. Not financial advice. Report a correction · Methodology