Retirement plan

NATURAL RESOURCES COUNCIL OF MAINE 403(B) PLAN

Name: NATURAL RESOURCES COUNCIL OF MAINE, INC. - NATURAL RESOURCES COUNCIL OF MAINE 403(B) PLAN (2023) Form 5500
Creator: NATURAL RESOURCES COUNCIL OF MAINE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NATURAL RESOURCES COUNCIL OF MAINE 403(B) PLAN, NATURAL RESOURCES COUNCIL OF MAINE, INC.

NATURAL RESOURCES COUNCIL OF MAINE, INC.EIN 01-0270690Plan #001PY 2023

3 WADE STREET - AUGUSTA, ME 04330207-430-0119nrcm.orgLinkedIn11-50 employeesnon-profit organization management

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$3.9M

+10.7% from 2022

Total participants

+4.7% from 2022

Average account balance

$92,365

+8.1% from 2022

Annual return

18.41%

+37.21 pp from 2022

Benchmarks

See 28,708 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort28,708 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.68M

Not enough data

1 years with asset history on file

Average account balance

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

$94K

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.

150.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$254K

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

+12.51%

Not enough data

1 years with return on file

Admin fee / account holder

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

$24569

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 codes2S2M3D2G2F2T

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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$593K

$20454 / participant

Other / not subdivided$593K100.0%

% of EOY assets

15.290%

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

$92,365

$93,598-1.3%

$135,974-32.1%

$75,173+22.9%

Participation rate

89.7%

75.2%+14.5pp

81.9%+7.7pp

67.2%+22.5pp

Annual return

18.41%

30.89%-12.5pp

68.30%-49.9pp

160.72%-142.3pp

Employer contribution / active EE

$4,497

$3,538+27.1%

$4,859-7.5%

$2,671+68.4%

Participant deferral / active EE

$6,099

$6,405-4.8%

$7,760-21.4%

$4,126+47.8%

Admin fee / account holder

$14,123

$6,978+102.4%

$10,767+31.2%

$5,651+149.9%

NATURAL RESOURCES COUNCIL OF MAINE 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NATURAL RESOURCES COUNCIL OF MAINE 403(B) 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