Retirement plan

WORCESTER COUNTY MECHANICS ASSOCIATION PROGRESS SHARING RETIREMENT PLAN

Name: WORCESTER COUNTY MECHANICS ASSOCIATION - WORCESTER COUNTY MECHANICS ASSOCIATION PROGRESS SHARING RETIREMENT PLAN (2017) Form 5500
Creator: WORCESTER COUNTY MECHANICS ASSOCIATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WORCESTER COUNTY MECHANICS ASSOCIATION PROGRESS SHARING RETIREMENT PLAN, WORCESTER COUNTY MECHANICS ASSOCIATION

WORCESTER COUNTY MECHANICS ASSOCIATIONEIN 04-1988955Plan #001PY 2017

321 MAIN STREET - WORCESTER, MA 01608508-752-5608

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.4M

+4.3% from 2016

Total participants

+7.1% from 2016

Average account balance

$94,836

-2.6% from 2016

Annual return

10.93%

+4.82 pp from 2016

Benchmarks

See 6,540 peers

Peer group

Industry71 - Arts, Entertainment, and Recreation

Plan typeDefined contribution

Participants<25

Cohort6,540 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.09M

Not enough data

1 years with asset history on file

Average account balance

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

$54K

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.

117.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$66K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+19.60%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1636

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 codes2E2F2G2L2M2T

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.
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.
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.

Opportunity flags

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$173K

$17302 / participant

Other / not subdivided$173K100.0%

% of EOY assets

12.162%

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

$94,836

$165,912-42.8%

$122,342-22.5%

$147,585-35.7%

Participation rate

100.0%

79.6%+20.4pp

71.6%+28.4pp

82.8%+17.2pp

Annual return

10.93%

34.55%-23.6pp

30.28%-19.3pp

578.57%-567.6pp

Employer contribution / active EE

$2,576

$5,754-55.2%

$4,051-36.4%

$4,876-47.2%

Participant deferral / active EE

$5,717

$4,005+42.7%

$3,287+73.9%

$5,439+5.1%

Admin fee / account holder

$11,534

$7,424+55.4%

$5,478+110.5%

$10,885+6.0%

WORCESTER COUNTY MECHANICS ASSOCIATION PROGRESS SHARING RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WORCESTER COUNTY MECHANICS ASSOCIATION PROGRESS SHARING 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