Plan Snapshot
- Plan Sponsor: Carecloud, INC.
- Sponsor EIN: 223832302
- Sponsor Address: 7 CLYDE ROAD, SOMERSET, NJ, 08873
- Plan Type: 401(k)
- Plan Number: 001
- Total Participants: 529
- Total Assets: $26.1M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- Participant Loans: Yes
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2025 | 529 | $26.1M | $0 | $0 |
| 2024 | 236 | $24.5M | $336,962 | $1.0M |
| 2023 | 329 | $22.6M | $471,548 | $1.4M |
| 2022 | 393 | $19.8M | $372,665 | $1.2M |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| NFP RETIREMENT | Other Service Provider | $48,012 | — | $48,012 |
| THE VANGUARD GROUP, INC. | Other Service Provider | $41,966 | — | $41,966 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $89,978
- Estimated Expense Ratio: 0.345% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2025 | $2,655,598 | $48,012 | $41,966 | — | — |
| 2024 | $91,146 | $46,191 | $44,955 | — | — |
| 2023 | $72,341 | $39,710 | $32,631 | — | — |
| 2022 | $73,662 | $45,420 | $28,242 | — | — |