Retirement plan

GREATER WORCESTER COMMUNITY FOUNDATION 401(K) PLAN

Name: GREATER WORCESTER COMMUNITY FOUNDATION, INC. - GREATER WORCESTER COMMUNITY FOUNDATION 401(K) PLAN (2022) Form 5500
Creator: GREATER WORCESTER COMMUNITY FOUNDATION, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GREATER WORCESTER COMMUNITY FOUNDATION 401(K) PLAN, GREATER WORCESTER COMMUNITY FOUNDATION, INC.

GREATER WORCESTER COMMUNITY FOUNDATION, INC.EIN 04-2572276Plan #001PY 2022

370 MAIN STREET, SUITE 650 - WORCESTER, MA 01608508-755-0980greaterworcester.orgLinkedIn1-10 employeesphilanthropy

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$719K

-5.6% from 2021

Total participants

-5.6% from 2021

Average account balance

$42,274

-0.0% from 2021

Annual return

-16.02%

-30.26 pp from 2021

Benchmarks

See 39,290 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort39,290 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.24M

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.

176.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$206K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+12.43%

Not enough data

1 years with return on file

Admin fee / account holder

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

$342

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 codes2E2J2F2G2T3D

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

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

$40K

$3614 / participant

Other / not subdivided$40K100.0%

% of EOY assets

5.532%

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

$42,274

$92,743-54.4%

$82,744-48.9%

$134,532-68.6%

Participation rate

100.0%

75.2%+24.8pp

72.6%+27.4pp

81.2%+18.8pp

Annual return

-16.02%

946.63%-962.7pp

702.22%-718.2pp

418.27%-434.3pp

Employer contribution / active EE

$4,275

$3,273+30.6%

$3,008+42.1%

$4,741-9.8%

Participant deferral / active EE

$5,954

$4,802+24.0%

$4,395+35.5%

$6,401-7.0%

Admin fee / account holder

$2,339

$5,977-60.9%

$5,325-56.1%

$11,429-79.5%

GREATER WORCESTER COMMUNITY FOUNDATION 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GREATER WORCESTER COMMUNITY FOUNDATION 401(K) 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