Retirement plan

SENIORSPLUS PENSION PLAN

Name: SENIORSPLUS - SENIORSPLUS PENSION PLAN (2023) Form 5500
Creator: SENIORSPLUS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SENIORSPLUS PENSION PLAN, SENIORSPLUS

SENIORSPLUSEIN 01-0317103Plan #001PY 2023

8 FALCON ROAD - LEWISTON, ME 04240207-795-4010seniorsplus.orgLinkedIn51-200 employeesindividual & family services

Prospect flagsLow participationRecently reached 100 employees

How to read this page

Total assets (EOY)

$7.3M

+23.5% from 2022

Total participants

182

+3.4% from 2022

Average account balance

$72,377

+19.8% from 2022

Annual return

19.23%

+35.14 pp from 2022

Benchmarks

See 1,919 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants100-249

Cohort1,919 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.77M

Not enough data

1 years with asset history on file

Average account balance

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

$89K

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.

71.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$310K

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

+16.99%

Not enough data

1 years with return on file

Admin fee / account holder

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

$34304

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

Top 2 by compensation

Provider	Service type	Compensation
AMERICAN UNITED LIFE INSURANCE CO9+ years Service code 15 · EIN 35-0145825	Recordkeeping	$115
VOYA RETIREMENT INSURANCE & ANNUITY8+ years Filed as: VOYA RET INSURANCE AND ANNUITY CO Service code 18 · EIN 71-0294708	Custodial (other than securities)	$0

Plan features & details

Pension benefit codes2F2G2K2L2M3D

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.
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.
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.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$3K

$18 / participant

Contract admin$3K100.0%

% of EOY assets

0.034%

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: OUELLETTE & ASSOCIATES, PA
Auditor EIN: 010448675
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$72,377

$58,264+24.2%

$86,617-16.4%

$71,495+1.2%

Participation rate

42.1%

65.0%-22.8pp

71.7%-29.6pp

67.9%-25.8pp

Annual return

19.23%

21.63%-2.4pp

591.91%-572.7pp

28.85%-9.6pp

Employer contribution / active EE

$1,001

$2,574-61.1%

$3,023-66.9%

$2,589-61.3%

Participant deferral / active EE

$1,717

$3,436-50.0%

$4,437-61.3%

$4,291-60.0%

Admin fee / account holder

$25

$1,057-97.6%

$5,613-99.6%

$1,588-98.4%

Provider

Service type

Compensation

AMERICAN UNITED LIFE INSURANCE CO9+ years

Service code 15 · EIN 35-0145825

Recordkeeping

$115

VOYA RETIREMENT INSURANCE & ANNUITY8+ years

Filed as: VOYA RET INSURANCE AND ANNUITY CO

Service code 18 · EIN 71-0294708

Custodial (other than securities)

SENIORSPLUS PENSION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SENIORSPLUS PENSION 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