Retirement plan

MAINE FARMLAND TRUST, INC. RETIREMENT PLAN

Name: MAINE FARMLAND TRUST, INC. - MAINE FARMLAND TRUST, INC. RETIREMENT PLAN (2021) Form 5500
Creator: MAINE FARMLAND TRUST, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MAINE FARMLAND TRUST, INC. RETIREMENT PLAN, MAINE FARMLAND TRUST, INC.

MAINE FARMLAND TRUST, INC.EIN 01-0528014Plan #001PY 2021

97 MAIN STREET - BELFAST, ME 04915207-338-6575mainefarmlandtrust.orgLinkedIn11-50 employeesenvironmental services

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$2.1M

+17.7% from 2020

Total participants

0.0% from 2020

Average account balance

$51,395

+14.7% from 2020

Annual return

14.97%

+0.75 pp from 2020

Benchmarks

See 17,096 peers

Peer group

Industry53 - Real Estate and Rental and Leasing

Plan typeDefined contribution

Participants<25

Cohort17,096 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.38M

Not enough data

1 years with asset history on file

Average account balance

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

$43K

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.

147.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$361K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+16.36%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4755

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 codes2E2F2G2J2T3D

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.
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

$102K

$4655 / participant

Other / not subdivided$102K100.0%

% of EOY assets

4.982%

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

$51,395

$227,633-77.4%

$189,597-72.9%

$167,553-69.3%

Participation rate

95.5%

82.5%+13.0pp

78.4%+17.0pp

82.1%+13.3pp

Annual return

14.97%

78.45%-63.5pp

64.20%-49.2pp

478.89%-463.9pp

Employer contribution / active EE

$2,325

$5,317-56.3%

$4,412-47.3%

$4,840-52.0%

Participant deferral / active EE

$4,080

$7,003-41.7%

$6,174-33.9%

$6,343-35.7%

Admin fee / account holder

$2,560

$11,879-78.4%

$9,807-73.9%

$12,316-79.2%

MAINE FARMLAND TRUST, INC. RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MAINE FARMLAND TRUST, INC. RETIREMENT 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