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 (2017) 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 INCEIN 04-2751023Plan #001PY 2017

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)

$1.7M

+33.4% from 2016

Total participants

+8.7% from 2016

Average account balance

$25,954

+29.3% from 2016

Annual return

23.51%

+14.48 pp from 2016

Benchmarks

See 17,854 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort17,854 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.92M

Not enough data

1 years with asset history on file

Average account balance

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

$47K

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.

105

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.

128.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$561K

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

+14.92%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2384

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 codes2F2T

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).
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

$35K

$760 / participant

Other / not subdivided$35K100.0%

% of EOY assets

2.105%

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

$25,954

$84,236-69.2%

$170,439-84.8%

$70,124-63.0%

Participation rate

76.1%

70.8%+5.3pp

83.6%-7.5pp

69.5%+6.5pp

Annual return

23.51%

23.06%+0.4pp

205.94%-182.4pp

73.14%-49.6pp

Employer contribution / active EE

$2,122

$3,387-37.4%

$5,433-60.9%

$2,342-9.4%

Participant deferral / active EE

$1,314

$3,086-57.4%

$4,939-73.4%

$3,332-60.6%

Admin fee / account holder

$546

$5,698-90.4%

$13,881-96.1%

$4,645-88.2%

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