Retirement plan

TRANSIT EMPLOYEES 401K PLAN

Name: SPRINGFIELD AREA TRANSIT CO INC - TRANSIT EMPLOYEES 401K PLAN (2017) Form 5500
Creator: SPRINGFIELD AREA TRANSIT CO INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TRANSIT EMPLOYEES 401K PLAN, SPRINGFIELD AREA TRANSIT CO INC

SPRINGFIELD AREA TRANSIT CO INCEIN 04-3572241Plan #003PY 2017

2840 MAIN STREET - SPRINGFIELD, MA 01107413-732-2161LinkedIn201-500 employeestransportation/trucking/railroad

Other plans on this EIN

1 filing

#002Retirement-$2.8M assets

Prospect flagsLow returnsLow participation

How to read this page

Total assets (EOY)

$4.5M

+10.1% from 2016

Total participants

331

+2.2% from 2016

Average account balance

$34,700

+3.3% from 2016

Annual return

9.05%

+7.55 pp from 2016

Benchmarks

See 639 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants250-999

Cohort639 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.40M

Not enough data

1 years with asset history on file

Average account balance

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

$45K

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.

163

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.

31.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$436K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+9.04%

Not enough data

1 years with return on file

Admin fee / account holder

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

$214

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 1 by compensation

Provider	Service type	Compensation
MERRILL LYNCH PIERCE FENNER & SMITH2+ years Filed as: MERRILL LYNCH LIFE AGENCY INC Service code 15 1400 MERRILL LYNCH DR · PENNINGTON, NJ 08534	Recordkeeping	$0

Plan features & details

Pension benefit codes2E2F2G2J2T3D3H

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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$3K

$10 / participant

Other / not subdivided$3K100.0%

% of EOY assets

0.075%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: MEYERS BROTHERS KALICKA PC
Auditor EIN: 042713795
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$34,700

$44,059-21.2%

$71,671-51.6%

$69,631-50.2%

Participation rate

37.8%

60.8%-23.0pp

68.7%-31.0pp

70.7%-32.9pp

Annual return

9.05%

21.97%-12.9pp

20.65%-11.6pp

27571.02%-27562.0pp

Employer contribution / active EE

$1,305-100.0%

$2,460-100.0%

$2,032-100.0%

Participant deferral / active EE

$867

$2,370-63.4%

$3,438-74.8%

$3,224-73.1%

Admin fee / account holder

$26

$108-75.9%

$5,558-99.5%

$110-76.5%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH2+ years

Filed as: MERRILL LYNCH LIFE AGENCY INC

Service code 15

1400 MERRILL LYNCH DR · PENNINGTON, NJ 08534

Recordkeeping

TRANSIT EMPLOYEES 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TRANSIT EMPLOYEES 401K 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