Retirement plan

SWEETSER 403(B) EMPLOYEES SAVINGS PLAN

Name: SWEETSER - SWEETSER 403(B) EMPLOYEES SAVINGS PLAN (2024) Form 5500
Creator: SWEETSER
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SWEETSER 403(B) EMPLOYEES SAVINGS PLAN, SWEETSER

SWEETSEREIN 01-0211807Plan #003PY 2024

50 MOODY STREET - SACO, ME 040721536207-294-4425sweetser.orgLinkedIn501-1000 employeesmental health care

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$32.6M

+11.8% from 2023

Total participants

920

-3.1% from 2023

Average account balance

$39,561

+15.4% from 2023

Annual return

15.11%

+4.21 pp from 2023

Benchmarks

See 4,117 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort4,117 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$34.59M

Not enough data

1 years with asset history on file

Average account balance

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

$44K

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.

785

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.

86.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.66M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+12.54%

Not enough data

1 years with return on file

Admin fee / account holder

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

$167

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 3 by compensation

Provider	Service type	Compensation
LINCOLN NATIONAL CORPORATION9+ years Service code 13 · EIN 35-1140070	Contract Administrator	$80,466
VALMARK ADVISERS INC6 years Service code 27 · EIN 31-1509466	Advisory (Plan)	$25,097
BERRY DUNN5 years Filed as: BERRY, DUNN MCNEIL & PARKER Service code 10 · EIN 01-0523282	Accounting	$12,450

Plan features & details

Pension benefit codes2F2G2L2M2S2T3D

Plan features

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.
2L
Code section 403(b)(1) arrangement
Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
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

0 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$118K

$234 / participant

Investment mgmt$25K21.3%
Contract admin$80K68.2%
Other / not subdivided$12K10.5%

% of EOY assets

0.362%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BDMP ASSURANCE, LLP
Auditor EIN: 994708358
Audit fees: $12,450
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$39,561

$50,902-22.3%

$155,534-74.6%

$77,736-49.1%

Participation rate

81.2%

63.1%+18.1pp

78.2%+3.0pp

70.6%+10.6pp

Annual return

15.11%

34.85%-19.7pp

64.92%-49.8pp

31.26%-16.2pp

Employer contribution / active EE

$899

$1,991-54.8%

$4,675-80.8%

$2,728-67.0%

Participant deferral / active EE

$2,137

$2,824-24.3%

$5,630-62.0%

$4,651-54.0%

Admin fee / account holder

$143

$437-67.3%

$15,900-99.1%

$433-67.0%

Provider

Service type

Compensation

LINCOLN NATIONAL CORPORATION9+ years

Service code 13 · EIN 35-1140070

Contract Administrator

$80,466

VALMARK ADVISERS INC6 years

Service code 27 · EIN 31-1509466

Advisory (Plan)

$25,097

BERRY DUNN5 years

Filed as: BERRY, DUNN MCNEIL & PARKER

Service code 10 · EIN 01-0523282

Accounting

$12,450

SWEETSER 403(B) EMPLOYEES SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SWEETSER 403(B) EMPLOYEES SAVINGS PLAN

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