Retirement plan

OCEAN STATE LIBRARIES DEFINED CONTRIBUTION PLAN

Name: COOPERATING LIBRARIES AUTOMATED NETWORK, INC D/B/A OCEAN STATE - OCEAN STATE LIBRARIES DEFINED CONTRIBUTION PLAN (2016) Form 5500
Creator: COOPERATING LIBRARIES AUTOMATED NETWORK, INC D/B/A OCEAN STATE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, OCEAN STATE LIBRARIES DEFINED CONTRIBUTION PLAN, COOPERATING LIBRARIES AUTOMATED NETWORK, INC D/B/A OCEAN STATE

COOPERATING LIBRARIES AUTOMATED NETWORK, INC D/B/A OCEAN STATEEIN 05-0465916Plan #001PY 2016

THE SUMMIT SOUTH, SUITE 103S, 300 CENTERVILLE ROAD - WARWICK, RI 028860200401-738-2200

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$721K

No prior year

Total participants

No prior year

Average account balance

$60,099

No prior year

Annual return

-0.05%

No prior year

Benchmarks

See 7,787 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants<25

Cohort7,787 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.44M

Not enough data

1 years with asset history on file

Average account balance

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

$90K

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.

177.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$79K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+11.82%

Not enough data

1 years with return on file

Admin fee / account holder

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

$33211

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 codes2L2G3D2M

Plan features

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.
2L
Code section 403(b)(1) arrangement
Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$36K

$4457 / participant

Other / not subdivided$36K100.0%

% of EOY assets

4.945%

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

$60,099

$96,558-37.8%

$80,977-25.8%

$273,972-78.1%

Participation rate

100.0%

79.1%+20.9pp

75.8%+24.2pp

83.0%+17.0pp

Annual return

-0.05%

15.14%-15.2pp

17.11%-17.2pp

41.46%-41.5pp

Employer contribution / active EE

$2,648

$4,869-45.6%

$3,715-28.7%

$4,869-45.6%

Participant deferral / active EE

$3,677

$6,598-44.3%

$5,696-35.5%

$5,287-30.5%

Admin fee / account holder

$2,972

$7,493-60.3%

$5,517-46.1%

$10,133-70.7%

OCEAN STATE LIBRARIES DEFINED CONTRIBUTION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

OCEAN STATE LIBRARIES DEFINED CONTRIBUTION 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