Retirement plan
DESERET MUTUAL PUERTO RICO THRIFT PLAN
DESERET MUTUAL BENEFIT ADMINISTRATORSEIN 87-0440163Plan #005PY 2018
P.O. BOX 45530 - SALT LAKE CITY, UT 84145801-578-5795dmba.comLinkedIn201-500 employeesfinancial services
Other plans on this EIN
4 filingsProspect flagsHigh fees
Filing contacts
From the Form 5500, federal recordPlan administrator signer
MICHAEL J. RASBAND
Signed 08/17/2019
Plan administrator entity
DESERET MUTUAL BENEFIT ADMINISTRATORS
EIN 870440163
Summary metrics
Total assets (EOY)
$899K
-15.8% from 2016
Total participants
18
+5.3% from 2016
Average account balance
$49,938
-20.0% from 2016
Annual return
-3.07%
-9.46 pp from 2016
Benchmarks
Peer group
Industry52 - Finance and Insurance
Plan typeDefined contribution
Participants<25
Cohort31,465 peers
Snapshot2018
25
Participant deferral / active EE
$3,538
median $6,402
48
Employer contribution / active EE
$3,997
median $3,133
32
Participation rate
100.0%
median 100.0%
31
Avg account balance
$49,938
median $85,572
15
Admin fee / account holder
$9,654
median $567
66
Annual return
-3.07%
median -5.85%
Overall peer rank
36of 100
36th percentileavg across 6 metrics
Analytics
2015 - 2024
Total assets (EOY)
Plan-year ending balance
$1.78M
Average account balance
Total assets / participants with a balance (line 6g)
$64K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
28
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
94.7%
Contributions (total)
Employer and participant dollars contributed each year
$154K
Contributions per participant
Average employer and participant contribution per enrolled participant
$8K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+11.51%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$1710
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
Not enough data
0 years with F_SCH_H allocation on file
Service providers
Providers data not reported
Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.
Plan features & details
Pension benefit codes2E2F2G2S2T3H
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.
- 2SAutomatic enrollmentPlan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
- 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
- OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Expense breakdown
Schedule H Part II
Admin total
$174K
$15798 / participant
- Other / not subdivided$174K100.0%
% of EOY assets
19.332%
all-in expense ratio
Categories reported
0 / 9
subdivided buckets used
Audit opinion
Schedule H Part III
No opinion code on file for this filing.
- Auditor firm
- (not reported)
- Auditor EIN
- -
- Audit fees
- (not subdivided)
- Opinion code
- -