Retirement plan

EMPLOYEE BENEFIT PLAN OF WESTBAY COMMUNITY ACTION, INC.

Name: WESTBAY COMMUNITY ACTION, INC. - EMPLOYEE BENEFIT PLAN OF WESTBAY COMMUNITY ACTION, INC. (2020) Form 5500
Creator: WESTBAY COMMUNITY ACTION, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, EMPLOYEE BENEFIT PLAN OF WESTBAY COMMUNITY ACTION, INC., WESTBAY COMMUNITY ACTION, INC.

WESTBAY COMMUNITY ACTION, INC.EIN 05-0311985Plan #001PY 2020

224 BUTTONWOODS AVE - WARWICK, RI 028867541401-732-4666westbaycap.orgLinkedIn51-200 employeescivic & social organization

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.1M

+25.1% from 2019

Total participants

+12.1% from 2019

Average account balance

$17,133

+13.0% from 2019

Annual return

16.28%

-6.00 pp from 2019

Benchmarks

See 18,628 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort18,628 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.92M

Not enough data

1 years with asset history on file

Average account balance

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

$24K

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.

90.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$269K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+12.97%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1897

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 codes2F2G2T3D

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).
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.
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.)
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

$50K

$1024 / participant

Other / not subdivided$50K100.0%

% of EOY assets

4.722%

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

$17,133

$91,198-81.2%

$178,503-90.4%

$79,856-78.5%

Participation rate

93.9%

69.2%+24.7pp

81.9%+11.9pp

69.6%+24.2pp

Annual return

16.28%

24.20%-7.9pp

151.12%-134.8pp

31.71%-15.4pp

Employer contribution / active EE

$928

$3,257-71.5%

$5,011-81.5%

$2,471-62.4%

Participant deferral / active EE

$1,619

$3,237-50.0%

$5,202-68.9%

$3,741-56.7%

Admin fee / account holder

$809

$6,748-88.0%

$13,987-94.2%

$5,306-84.8%

EMPLOYEE BENEFIT PLAN OF WESTBAY COMMUNITY ACTION, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

EMPLOYEE BENEFIT PLAN OF WESTBAY COMMUNITY ACTION, 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