Retirement plan

403(B) THRIFT PLAN OF THE FOOD BANK OF WESTERN MASSACHUSETTS, INC.

Name: THE FOOD BANK OF WESTERN MASSACHUSE TTS, INC. - 403(B) THRIFT PLAN OF THE FOOD BANK OF WESTERN MASSACHUSETTS, INC. (2016) Form 5500
Creator: THE FOOD BANK OF WESTERN MASSACHUSE TTS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 403(B) THRIFT PLAN OF THE FOOD BANK OF WESTERN MASSACHUSETTS, INC., THE FOOD BANK OF WESTERN MASSACHUSE TTS, INC.

THE FOOD BANK OF WESTERN MASSACHUSE TTS, INC.EIN 04-2751023Plan #001PY 2016

97 N HATFIELD RD - HATFIELD, MA 010389773413-247-9738foodbankwma.orgLinkedIn11-50 employeesnon-profit organization management

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.2M

+3.2% from 2015

Total participants

-1.4% from 2015

Average account balance

$20,076

+16.5% from 2015

Annual return

9.03%

+7.10 pp from 2015

Benchmarks

See 17,769 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort17,769 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.01M

Not enough data

1 years with asset history on file

Average account balance

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

$39K

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.

103

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.

135.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$426K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+17.39%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2539

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 codes2L2T

Plan features

2L
Code section 403(b)(1) arrangement
Plan uses a Code section 403(b)(1) annuity contract 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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$199K

$4625 / participant

Other / not subdivided$199K100.0%

% of EOY assets

15.977%

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

$20,076

$77,638-74.1%

$156,551-87.2%

$62,881-68.1%

Participation rate

83.7%

71.2%+12.5pp

84.0%-0.3pp

69.3%+14.4pp

Annual return

9.03%

50.33%-41.3pp

32.23%-23.2pp

20.14%-11.1pp

Employer contribution / active EE

$1,003

$3,444-70.9%

$5,501-81.8%

$2,281-56.0%

Participant deferral / active EE

$1,972

$3,046-35.2%

$4,871-59.5%

$3,203-38.4%

Admin fee / account holder

$3,208

$5,561-42.3%

$13,028-75.4%

$4,296-25.3%

403(B) THRIFT PLAN OF THE FOOD BANK OF WESTERN MASSACHUSETTS, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

403(B) THRIFT PLAN OF THE FOOD BANK OF WESTERN MASSACHUSETTS, 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