Retirement plan

MEDICAL MUTUAL INSURANCE COMPANY OF MAINE SALARY DEFERRAL PLAN

Name: MEDICAL MUTUAL INSURANCE COMPANY OF MAINE - MEDICAL MUTUAL INSURANCE COMPANY OF MAINE SALARY DEFERRAL PLAN (2021) Form 5500
Creator: MEDICAL MUTUAL INSURANCE COMPANY OF MAINE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MEDICAL MUTUAL INSURANCE COMPANY OF MAINE SALARY DEFERRAL PLAN, MEDICAL MUTUAL INSURANCE COMPANY OF MAINE

MEDICAL MUTUAL INSURANCE COMPANY OF MAINEEIN 01-0355669Plan #001PY 2021

PO BOX 15275 - PORTLAND, ME 041125275207-775-2791medicalmutual.comLinkedIn11-50 employeesinsurance

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$27.6M

+6.1% from 2020

Total participants

+2.0% from 2020

Average account balance

$563,687

+6.1% from 2020

Annual return

14.67%

-7.42 pp from 2020

Benchmarks

See 7,182 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,182 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$27.52M

Not enough data

1 years with asset history on file

Average account balance

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

$562K

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.

97.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.11M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$28K

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

+18.19%

Not enough data

1 years with return on file

Admin fee / account holder

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

$15040

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 codes2E2F2G2J2T3D2R

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$3.4M

$87653 / participant

Other / not subdivided$3M100.0%

% of EOY assets

12.377%

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

$563,687

$137,414+310.2%

$189,545+197.4%

$85,851+556.6%

Participation rate

97.4%

84.6%+12.8pp

87.8%+9.6pp

69.3%+28.1pp

Annual return

14.67%

38.14%-23.5pp

555.36%-540.7pp

318.63%-304.0pp

Employer contribution / active EE

$17,184

$4,344+295.5%

$6,162+178.9%

$2,565+569.8%

Participant deferral / active EE

$13,035

$6,260+108.2%

$8,220+58.6%

$3,952+229.8%

Admin fee / account holder

$69,765

$8,630+708.4%

$12,049+479.0%

$6,261+1014.3%

MEDICAL MUTUAL INSURANCE COMPANY OF MAINE SALARY DEFERRAL PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MEDICAL MUTUAL INSURANCE COMPANY OF MAINE SALARY DEFERRAL 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