Retirement plan

403(B) THRIFT PLAN OF SPRINGFIELD PARTNERS FOR COMMUNITY ACTION, INC.

Name: SPRINGFIELD PARTNERS FOR COMMUNITY ACTION, INC. - 403(B) THRIFT PLAN OF SPRINGFIELD PARTNERS FOR COMMUNITY ACTION, INC. (2020) Form 5500
Creator: SPRINGFIELD PARTNERS FOR COMMUNITY ACTION, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 403(B) THRIFT PLAN OF SPRINGFIELD PARTNERS FOR COMMUNITY ACTION, INC., SPRINGFIELD PARTNERS FOR COMMUNITY ACTION, INC.

SPRINGFIELD PARTNERS FOR COMMUNITY ACTION, INC.EIN 04-2374279Plan #001PY 2020

721 STATE ST - SPRINGFIELD, MA 011094109413-263-6500springfieldpartnersinc.comLinkedIn51-200 employeesnon-profit organization management

Prospect flagsLow returnsHigh feesLow participation

How to read this page

Total assets (EOY)

$1.1M

+3.4% from 2019

Total participants

+17.6% from 2019

Average account balance

$31,321

+0.4% from 2019

Annual return

3.23%

+1.89 pp from 2019

Benchmarks

See 33 peers

Peer group

IndustryUnknown

Plan typeDefined contribution

Participants25-99

Cohort33 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.17M

Not enough data

1 years with asset history on file

Average account balance

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

$29K

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.

205.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$135K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+6.78%

Not enough data

1 years with return on file

Admin fee / account holder

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

$14944

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 codes2F2G2T

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.
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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$124K

$2036 / participant

Other / not subdivided$124K100.0%

% of EOY assets

11.665%

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

$31,321

$26,194+19.6%

$79,858-60.8%

Participation rate

24.6%

49.4%-24.8pp

69.6%-45.0pp

Annual return

3.23%

42.01%-38.8pp

31.72%-28.5pp

Employer contribution / active EE

$756

$1,555-51.4%

$2,471-69.4%

Participant deferral / active EE

$1,306

$1,743-25.1%

$3,740-65.1%

Admin fee / account holder

$3,654

$2,148+70.1%

$5,306-31.1%

403(B) THRIFT PLAN OF SPRINGFIELD PARTNERS FOR COMMUNITY ACTION, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

403(B) THRIFT PLAN OF SPRINGFIELD PARTNERS FOR COMMUNITY ACTION, INC.

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