Plan Snapshot
- Plan Sponsor: Carecloud, INC.
- Sponsor EIN: 223832302
- Sponsor Address: 7 CLYDE ROAD, SOMERSET, NJ, 08873
- Plan Type: 401(k)
- Total Participants: 236
- Total Assets: $24.5M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- 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. |
|---|---|---|---|---|
| 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 |
|---|---|---|---|---|
| LBMC, PC | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- LBMC, PC — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $0
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 |
|---|---|---|---|---|---|
| 2024 | $91,146 | $46,191 | $44,955 | — | — |
| 2023 | $72,341 | $39,710 | $32,631 | — | — |
| 2022 | $73,662 | $45,420 | $28,242 | — | — |