Retirement plan

MCLS 401(K) RETIREMENT PLAN

Name: MASSACHUSETTS CORRECTIONAL LEGAL SERVICES, INC. - MCLS 401(K) RETIREMENT PLAN (2020) Form 5500
Creator: MASSACHUSETTS CORRECTIONAL LEGAL SERVICES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MCLS 401(K) RETIREMENT PLAN, MASSACHUSETTS CORRECTIONAL LEGAL SERVICES, INC.

MASSACHUSETTS CORRECTIONAL LEGAL SERVICES, INC.EIN 04-2523362Plan #002PY 2020

50 FEDERAL STREET, 4TH FLOOR - BOSTON, MA 02110617-482-2773LinkedIn11-50 employeesmedical practice

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$2.2M

+10.2% from 2019

Total participants

+8.3% from 2019

Average account balance

$95,386

-13.7% from 2019

Annual return

4.58%

-1.43 pp from 2019

Benchmarks

See 120,737 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort120,737 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.34M

Not enough data

1 years with asset history on file

Average account balance

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

$101K

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.

143.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$329K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+12.85%

Not enough data

1 years with return on file

Admin fee / account holder

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

$8728

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 codes2E2J2F2G3D2T

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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$31K

$1918 / participant

Other / not subdivided$31K100.0%

% of EOY assets

1.399%

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

$95,386

$165,399-42.3%

$149,745-36.3%

$158,982-40.0%

Participation rate

81.3%

84.6%-3.3pp

82.5%-1.2pp

82.0%-0.7pp

Annual return

4.58%

348.34%-343.8pp

276.72%-272.1pp

302.99%-298.4pp

Employer contribution / active EE

$4,644

$5,105-9.0%

$4,6460%

$4,763-2.5%

Participant deferral / active EE

$4,251

$7,183-40.8%

$6,843-37.9%

$5,983-29.0%

Admin fee / account holder

$1,334

$10,811-87.7%

$9,312-85.7%

$11,252-88.1%

MCLS 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MCLS 401(K) 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