Retirement plan

THE ALLIANCE OF STATE RETAIL ASSOCIATIONS 401(K) PLAN & TRUST

Name: RETAIL ASSOCIATION OF MAINE - THE ALLIANCE OF STATE RETAIL ASSOCIATIONS 401(K) PLAN & TRUST (2024) Form 5500
Creator: RETAIL ASSOCIATION OF MAINE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE ALLIANCE OF STATE RETAIL ASSOCIATIONS 401(K) PLAN & TRUST, RETAIL ASSOCIATION OF MAINE

RETAIL ASSOCIATION OF MAINEEIN 01-0165117Plan #333PY 2024

45 MELVILLE STREET STE 1 - AUGUSTA, ME 04330207-623-1149LinkedIn1-10 employeesnon-profit organization management

Prospect flagsHigh retiree %Low returnsHigh feesLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$76.9M

+4.7% from 2023

Total participants

7,983

+152.5% from 2023

Average account balance

$42,066

+73.4% from 2023

Annual return

4.55%

-84.96 pp from 2023

Benchmarks

See 62 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants5,000-9,999

Cohort62 peers

Snapshot2024

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$76.85M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$42K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

2,161

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

0.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$9.74M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+4.55%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$498

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 7 by compensation

Provider	Service type	Compensation
LINCOLN NATIONAL CORPORATION1 year Service code 13 · EIN 35-1140070 1301 S HARRISON ST · FORT WAYNE, IN 468012248	Contract Administrator	$575,619
ATLAS PENSION ADMINISTRATORS, INC2 years Filed as: ATLAS PENSION ADMINISTRATORS INC Service code 15 123 N STATE ST. UNIT 1 · CONCORD, NH 03301	Recordkeeping	$96,117
ATLAS FINANCIAL GROUP, LLC2 years Filed as: ATLAS FIDUCIARY SERVICES Service code 27 123 N STATE ST. UNIT 1 · CONCORD, NH 03301	Advisory (Plan)	$74,249
SAGEPOINT FINANCIAL INC2 years Service code 27 PO BOX 842643 · LOS ANGELES, CA 900842643	Advisory (Plan)	$47,915
CAMBRIDGE INVESTMENT RESEARCH2 years Service code 27 36 COUNTRY CLUB RD UNIT 926 · GILFORD, NH 03249	Advisory (Plan)	$29,075
TRANSAMERICA RETIREMENT SOLUTIONS1 year Service code 15 · EIN 13-3689044	Recordkeeping	$22,209
TRANSAMERICA RETIREMENT SOLUTIONS1 year Filed as: TRANSAMERICA FINANCIAL LIFE INS CO. Service code 22 · EIN 36-6071399	Insurance Broker	$9,913

Plan features & details

Pension benefit codes2S2E2F2G2J2K2T3D

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.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

5 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

Expense breakdown

Schedule H Part II

Admin total

$910K

$156 / participant

Contract admin$910K100.0%

% of EOY assets

1.184%

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: TEMPLETON & CO.
Auditor EIN: 141918990
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$42,066

$41,039+2.5%

$85,240-50.6%

$99,313-57.6%

Participation rate

0.0%

34.4%-34.4pp

67.5%-67.5pp

71.7%-71.7pp

Annual return

4.55%

17.44%-12.9pp

66.75%-62.2pp

17.67%-13.1pp

Employer contribution / active EE

$371

$1,106-66.4%

$2,735-86.4%

$3,264-88.6%

Participant deferral / active EE

$1,302

$2,193-40.6%

$4,527-71.2%

$5,346-75.6%

Admin fee / account holder

$498

$177+181.2%

$6,165-91.9%

$109+356.1%

Provider

Service type

Compensation

LINCOLN NATIONAL CORPORATION1 year

Service code 13 · EIN 35-1140070

1301 S HARRISON ST · FORT WAYNE, IN 468012248

Contract Administrator

$575,619

ATLAS PENSION ADMINISTRATORS, INC2 years

Filed as: ATLAS PENSION ADMINISTRATORS INC

Service code 15

123 N STATE ST. UNIT 1 · CONCORD, NH 03301

Recordkeeping

$96,117

ATLAS FINANCIAL GROUP, LLC2 years

Filed as: ATLAS FIDUCIARY SERVICES

Service code 27

123 N STATE ST. UNIT 1 · CONCORD, NH 03301

Advisory (Plan)

$74,249

SAGEPOINT FINANCIAL INC2 years

Service code 27

PO BOX 842643 · LOS ANGELES, CA 900842643

Advisory (Plan)

$47,915

CAMBRIDGE INVESTMENT RESEARCH2 years

Service code 27

36 COUNTRY CLUB RD UNIT 926 · GILFORD, NH 03249

Advisory (Plan)

$29,075

TRANSAMERICA RETIREMENT SOLUTIONS1 year

Service code 15 · EIN 13-3689044

Recordkeeping

$22,209

TRANSAMERICA RETIREMENT SOLUTIONS1 year

Filed as: TRANSAMERICA FINANCIAL LIFE INS CO.

Service code 22 · EIN 36-6071399

Insurance Broker

$9,913

THE ALLIANCE OF STATE RETAIL ASSOCIATIONS 401(K) PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE ALLIANCE OF STATE RETAIL ASSOCIATIONS 401(K) PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion