Retirement plan

MASSACHUSETTS TEACHER ASSOCIATION 401(K) SAVINGS PLAN

Name: MASSACHUSETTS TEACHER ASSOCIATION - MASSACHUSETTS TEACHER ASSOCIATION 401(K) SAVINGS PLAN (2019) Form 5500
Creator: MASSACHUSETTS TEACHER ASSOCIATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MASSACHUSETTS TEACHER ASSOCIATION 401(K) SAVINGS PLAN, MASSACHUSETTS TEACHER ASSOCIATION

MASSACHUSETTS TEACHER ASSOCIATIONEIN 04-1591200Plan #002PY 2019

2 HERITAGE DRIVE, 8TH FLOOR - QUINCY, MA 02171617-878-8000massteacher.orgLinkedIn51-200 employeespublic policy

Other plans on this EIN

1 filing

#001Retirement-$213.6M assets

Prospect flagsLow participationLow employer contribution

How to read this page

Total assets (EOY)

$13.9M

+26.1% from 2018

Total participants

169

+1.2% from 2018

Average account balance

$120,904

+22.8% from 2018

Annual return

27.40%

+31.13 pp from 2018

Benchmarks

See 1,482 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants100-249

Cohort1,482 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$20.56M

Not enough data

1 years with asset history on file

Average account balance

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

$143K

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.

144

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.

69.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.55M

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

+14.75%

Not enough data

1 years with return on file

Admin fee / account holder

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

$65

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 1 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL5+ years Service code 37 · EIN 04-2647786	Loan Processing	$3,392

Plan features & details

Pension benefit codes2F2G2J2T3D3H

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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$4K

$29 / participant

Investment mgmt$1K23.6%
Other / not subdivided$3K76.4%

% of EOY assets

0.032%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: CITRIN COOPERMAN & CO, LLP
Auditor EIN: 222428965
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$120,904

$60,795+98.9%

$69,483+74.0%

$65,186+85.5%

Participation rate

64.2%

74.9%-10.6pp

74.6%-10.4pp

70.2%-6.0pp

Annual return

27.40%

17.46%+9.9pp

28.99%-1.6pp

29.39%-2.0pp

Employer contribution / active EE

$2,452-100.0%

$2,780-100.0%

$2,177-100.0%

Participant deferral / active EE

$7,561

$3,162+139.1%

$3,537+113.8%

$3,514+115.2%

Admin fee / account holder

$39

$314-87.7%

$3,841-99.0%

$847-95.4%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL5+ years

Service code 37 · EIN 04-2647786

Loan Processing

$3,392

MASSACHUSETTS TEACHER ASSOCIATION 401(K) SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MASSACHUSETTS TEACHER ASSOCIATION 401(K) SAVINGS 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