Retirement plan

TAX DEFERRED ANNUITY PLAN OF UNITED WAY, INC.

Name: UNITED WAY, INC. - TAX DEFERRED ANNUITY PLAN OF UNITED WAY, INC. (2023) Form 5500
Creator: UNITED WAY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TAX DEFERRED ANNUITY PLAN OF UNITED WAY, INC., UNITED WAY, INC.

UNITED WAY, INC.EIN 01-0241767Plan #002PY 2023

550 FOREST AVENUE, SUITE 100 - PORTLAND, ME 041011505207-874-1000

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$4.7M

+19.5% from 2022

Total participants

+3.0% from 2022

Average account balance

$71,842

+14.0% from 2022

Annual return

17.44%

+34.75 pp from 2022

Benchmarks

See 9,806 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort9,806 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.43M

Not enough data

1 years with asset history on file

Average account balance

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

$88K

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.

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.

140.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$424K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+13.79%

Not enough data

1 years with return on file

Admin fee / account holder

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

$5266

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

0 years with F_SCH_H allocation on file

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

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 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

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

$341K

$7579 / participant

Other / not subdivided$341K100.0%

% of EOY assets

7.304%

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: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$71,842

$57,330+25.3%

$86,656-17.1%

$75,177-4.4%

Participation rate

91.1%

63.2%+27.9pp

71.7%+19.4pp

67.2%+23.9pp

Annual return

17.44%

2675.40%-2658.0pp

593.09%-575.7pp

160.75%-143.3pp

Employer contribution / active EE

$3,010

$2,316+29.9%

$3,025-0.5%

$2,671+12.7%

Participant deferral / active EE

$5,955

$3,320+79.4%

$4,439+34.2%

$4,126+44.3%

Admin fee / account holder

$5,247

$4,115+27.5%

$5,619-6.6%

$5,651-7.1%

TAX DEFERRED ANNUITY PLAN OF UNITED WAY, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TAX DEFERRED ANNUITY PLAN OF UNITED WAY, INC.

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