Retirement plan
401(K) PENSION PLAN
NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATIONEIN 53-0116145Plan #444PY 2023
4301 WILSON BLVD - ARLINGTON, VA 22203703-907-6021
Other plans on this EIN
1 filingProspect flagsHigh feesFailed to transmit contributions
Filing contacts
From the Form 5500, federal recordPlan administrator signer
PETER BAXTER
Signed 10/15/2024
Plan administrator entity
SENIOR VICE PRESIDENT, INSURANCE AND FINANCIAL SERVICES
EIN 542072724
(703) 907-5743Summary metrics
Total assets (EOY)
$14978.7M
-9.3% from 2016
Total participants
79,162
-2.3% from 2016
Average account balance
$192,761
-9.1% from 2016
Annual return
18.02%
-9.04 pp from 2016
Benchmarks
Peer group
Industryany (size+type match)
Plan typeDefined contribution
Participants>=10,000
Cohort1,196 peers
Snapshot2023
68
Participant deferral / active EE
$7,551
median $4,454
68
Employer contribution / active EE
$4,151
median $2,149
81
Participation rate
97.6%
median 86.8%
87
Avg account balance
$192,761
median $66,781
1
Admin fee / account holder
$560
median $57
45
Annual return
18.02%
median 18.48%
Overall peer rank
58of 100
58th percentileavg across 6 metrics
Analytics
2015 - 2024
Total assets (EOY)
Plan-year ending balance
$16.84B
Average account balance
Total assets / participants with a balance (line 6g)
$211K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
79,674
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
98.7%
Contributions (total)
Employer and participant dollars contributed each year
$756.10M
Contributions per participant
Average employer and participant contribution per enrolled participant
$12K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+14.41%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$594
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
- Mutual / pooled
- Stocks
- Bonds
- Cash
- Real estate
- Loans
Service providers
Top 10 of 50 by compensation
| Provider | Service type | Compensation |
|---|---|---|
NRECA9+ years Service code 14 · EIN 53-0116145 | Plan Administrator | $24,447,849 |
T ROWE PRICE ASSOCIATES INC7 years Service code 28 · EIN 52-0556948 | Investment Management | $3,655,431 |
Service code 21 · EIN 94-3112180 | Bank Trustee | $2,629,732 |
Service code 28 · EIN 13-3806691 | Investment Management | $1,402,840 |
Service code 28 · EIN 22-2774695 | Investment Management | $1,031,404 |
LSV ASSET MANAGEMENT8 years Service code 28 · EIN 23-2772200 | Investment Management | $1,025,906 |
LOCKTON COMPANIES8 years Service code 22 · EIN 20-3354970 | Insurance Broker | $827,409 |
Service code 28 · EIN 33-0629048 | Investment Management | $737,386 |
CAPITAL INTERNATIONAL INC2 years Service code 28 · EIN 95-4797716 | Investment Management | $735,824 |
ENTERPRISE IRON FIS INC2 years Service code 16 · EIN 24-1550013 | Consulting | $500,620 |
Top hat statement on fileNQDC
Filed January 1, 2012
This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.
Plan features & details
Pension benefit codes2C2E2F2G2J2K2R2T3F3H2X
Plan features
- 2CMoney purchase planMoney purchase pension plan other than a target benefit plan.
- 2EProfit-sharingProfit-sharing plan.
- 2FERISA section 404(c) planThis plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
- 2GTotal participant-directed account planParticipants 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.
- 2JCode section 401(k) featureCash 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.
- 2KCode section 401(m) arrangementEmployee 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.
- 2RParticipant-directed brokerage accountsParticipant-directed brokerage accounts provided as an investment option under the plan.
- 2TDefault investment accountTotal or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
- 3FLeased employeesPlan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
- 3HControlled group memberPlan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
Opportunity flags
2 tripped
- OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
- ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Expense breakdown
Schedule H Part II
Admin total
$43.5M
$723 / participant
- Trustee / custodial$283K0.7%
- Investment mgmt$12M27.3%
- Legal$33K0.1%
- Contract admin$24M56.2%
- Other / not subdivided$7M15.8%
% of EOY assets
0.291%
all-in expense ratio
Categories reported
4 / 9
subdivided buckets used
Audit opinion
Schedule H Part III
Unqualified opinion
Auditor signed off without reservation - the cleanest possible opinion.
- Auditor firm
- CLIFTONLARSONALLEN LLP
- Auditor EIN
- 410746749
- Audit fees
- $58,236
- Opinion code
- Unqualified