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Retirement plan

DESERET MUTUAL PUERTO RICO THRIFT PLAN

DESERET MUTUAL BENEFIT ADMINISTRATORSEIN 87-0440163Plan #005PY 2019
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P.O. BOX 45530 - SALT LAKE CITY, UT 84145801-578-5795dmba.comLinkedIn201-500 employeesfinancial services
Other plans on this EIN
3 filings
#001Retirement-$7.08B assets#003Retirement-$4.26B assets#004Retirement--
Prospect flagsHigh fees

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 07/29/2020
Plan administrator entity
DESERET MUTUAL BENEFIT ADMINISTRATORS
EIN 870440163
How to read this page

Summary metrics

Total assets (EOY)
$1.1M
-15.8% from 2016
Total participants
18
+5.3% from 2016
Average account balance
$58,437
-20.0% from 2016
Annual return
14.35%
-9.46 pp from 2016

Benchmarks

See 31,989 peers
Peer group
Industry52 - Finance and Insurance
Plan typeDefined contribution
Participants<25
Cohort31,989 peers
Snapshot2019
Participant deferral / active EE
$4,012
median $6,694
Employer contribution / active EE
$4,153
median $3,180
Participation rate
100.0%
median 100.0%
Avg account balance
$58,437
median $97,389
Admin fee / account holder
$3,682
median $573
Annual return
14.35%
median 20.79%
Overall peer rank
31st 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
  • 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.
  • 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

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
$66K
$6025 / participant
  • Other / not subdivided$66K100.0%
% of EOY assets
6.300%
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
-