Retirement plan

MASSACHUSETTS TEACHER ASSOCIATION 401(K) SAVINGS PLAN

Name: MASSACHUSETTS TEACHERS ASSOCIATION - MASSACHUSETTS TEACHER ASSOCIATION 401(K) SAVINGS PLAN (2021) Form 5500
Creator: MASSACHUSETTS TEACHERS ASSOCIATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MASSACHUSETTS TEACHER ASSOCIATION 401(K) SAVINGS PLAN, MASSACHUSETTS TEACHERS ASSOCIATION

MASSACHUSETTS TEACHERS ASSOCIATIONEIN 04-1591200Plan #002PY 2021

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

Other plans on this EIN

1 filing

#001Retirement-$265.0M assets

Prospect flagsLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$18.9M

+14.3% from 2020

Total participants

177

+5.4% from 2020

Average account balance

$146,785

+4.5% from 2020

Annual return

14.30%

-2.37 pp from 2020

Benchmarks

See 1,462 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants100-249

Cohort1,462 peers

Snapshot2021

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 INSTITUTIONAL7+ years Service code 37 · EIN 04-2647786	Loan Processing	$3,280

Plan features & details

Pension benefit codes2F2G2J2T3H3D

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 employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$6K

$38 / participant

Investment mgmt$3K46.7%
Other / not subdivided$3K53.3%

% of EOY assets

0.033%

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: CITRIN COOPERMAN & COMPANY, LLP
Auditor EIN: 222428965
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$146,785

$74,706+96.5%

$75,714+93.9%

$79,391+84.9%

Participation rate

70.2%

75.3%-5.2pp

74.8%-4.6pp

70.7%-0.5pp

Annual return

14.30%

18.52%-4.2pp

104.62%-90.3pp

116.88%-102.6pp

Employer contribution / active EE

$62

$2,590-97.6%

$2,744-97.7%

$2,428-97.4%

Participant deferral / active EE

$9,455

$3,533+167.6%

$3,820+147.5%

$4,046+133.7%

Admin fee / account holder

$48

$374-87.3%

$3,619-98.7%

$627-92.4%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL7+ years

Service code 37 · EIN 04-2647786

Loan Processing

$3,280

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