Retirement plan
DESERET MUTUAL RETIREMENT PLUS PLAN
DESERET MUTUAL BENEFIT ADMINISTRATORSEIN 87-0440163Plan #004PY 2017
P.O. BOX 45530 - SALT LAKE CITY, UT 841450530801-578-5628dmba.comLinkedIn201-500 employeesfinancial services
Other plans on this EIN
4 filingsProspect flagsLow assets / participant
Filing contacts
From the Form 5500, federal recordPlan administrator signer
MICHAEL J. RASBAND
Signed 07/30/2018
Plan administrator entity
DESERET MUTUAL BENEFIT ADMINISTRATORS
EIN 870440163
Summary metrics
Total assets (EOY)
$97.3M
-66.9% from 2016
Total participants
12,757
-14.3% from 2016
Average account balance
$7,627
-66.8% from 2016
Annual return
20.49%
-43.34 pp from 2016
Benchmarks
Peer group
Industry52 - Finance and Insurance
Plan typeDefined contribution
Participants>=10,000
Cohort80 peers
Snapshot2017
0
Participant deferral / active EE
$0
median $5,833
44
Employer contribution / active EE
$3,315
median $3,527
87
Participation rate
100.0%
median 96.0%
5
Avg account balance
$7,627
median $108,862
75
Admin fee / account holder
$20
median $54
89
Annual return
20.49%
median 17.71%
Overall peer rank
60of 100
60th percentileavg across 6 metrics
Analytics
2015 - 2019
Total assets (EOY)
Plan-year ending balance
$0
Average account balance
Total assets / participants with a balance (line 6g)
$9K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
14,157
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
92.3%
Contributions (total)
Employer and participant dollars contributed each year
$48.45M
Contributions per participant
Average employer and participant contribution per enrolled participant
$3K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
-133.17%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$0
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
| Provider | Service type | Compensation |
|---|---|---|
Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Recordkeeping Fees | $255,435 |
Plan features & details
Pension benefit codes2E2F2G2T3H
Plan features
- 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.
- 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.
- 3HControlled group memberPlan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
Opportunity flags
1 tripped
- OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Expense breakdown
Schedule H Part II
Admin total
$249K
$21 / participant
- Other / not subdivided$249K100.0%
% of EOY assets
0.256%
all-in expense ratio
Categories reported
0 / 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