PlanOptica
Retirement plan

DESERET 401(K) PLAN

DESERET MUTUAL BENEFIT ADMINISTRATORSEIN 87-0440163Plan #003PY 2018
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PO BOX 45530 - SALT LAKE CITY, UT 84145801-578-5795dmba.comLinkedIn201-500 employeesfinancial services
Other plans on this EIN
4 filings
#001Retirement-$6.31B assets#004Retirement-$123.7M assets#005Retirement-$899K assets#007Retirement--
Prospect flagsNo flags tripped

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(801) 578-5795
Plan administrator signer
MICHAEL J. RASBAND
Signed 08/15/2019
How to read this page

Summary metrics

Total assets (EOY)
$3381.9M
-9.2% from 2016
Total participants
34,700
+0.8% from 2016
Average account balance
$98,433
-10.1% from 2016
Annual return
-6.35%
-9.06 pp from 2016

Benchmarks

See 86 peers
Peer group
Industry52 - Finance and Insurance
Plan typeDefined contribution
Participants>=10,000
Cohort86 peers
Snapshot2018
Participant deferral / active EE
$4,919
median $6,144
Employer contribution / active EE
$2,510
median $3,629
Participation rate
98.6%
median 96.1%
Avg account balance
$98,433
median $93,454
Admin fee / account holder
$14
median $60
Annual return
-6.35%
median -4.59%
Overall peer rank
49th percentileavg across 6 metrics

Analytics

2015 - 2024
Total assets (EOY)
Plan-year ending balance
$6.15B
Average account balance
Total assets / participants with a balance (line 6g)
$154K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
39,798
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
98.5%
Contributions (total)
Employer and participant dollars contributed each year
$363.32M
Contributions per participant
Average employer and participant contribution per enrolled participant
$14K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+11.71%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$18
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
  • Mutual / pooled
  • Stocks
  • Bonds
  • Cash
  • Real estate
  • Loans

Service providers

Top 1 by compensation
ProviderService typeCompensation
GREAT-WEST LIFE & ANNUITY INSURANCE3 years
Service code 64
8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111
Recordkeeping Fees
$767,237

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3H
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.
  • 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

0 tripped
No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II
Admin total
$482K
$20 / participant
  • Contract admin$482K100.0%
% of EOY assets
0.014%
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
DELOITTE & TOUCHE LLP
Auditor EIN
133891517
Audit fees
(not subdivided)
Opinion code
Unqualified