Retirement plan

403(B)THRIFT PLAN OF UNITED WAY OF SOUTHEASTERN CONNECTICUT

Name: UNITED WAY OF SOUTHEASTERN CON - 403(B)THRIFT PLAN OF UNITED WAY OF SOUTHEASTERN CONNECTICUT (2023) Form 5500
Creator: UNITED WAY OF SOUTHEASTERN CON
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 403(B)THRIFT PLAN OF UNITED WAY OF SOUTHEASTERN CONNECTICUT, UNITED WAY OF SOUTHEASTERN CON

UNITED WAY OF SOUTHEASTERN CONEIN 06-0771393Plan #002PY 2023

PO BOX 375 - GALES FERRY, CT 063350375860-464-7281uwsect.orgLinkedIn11-50 employeesnon-profit organization management

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$3.3M

+10.9% from 2022

Total participants

-14.3% from 2022

Average account balance

$98,096

+27.2% from 2022

Annual return

13.83%

+25.48 pp from 2022

Benchmarks

See 41,808 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort41,808 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.95M

Not enough data

1 years with asset history on file

Average account balance

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

$110K

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.

163.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$267K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+14.43%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3321

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 codes2G3D2J

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.
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.
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

$345K

$16407 / participant

Other / not subdivided$345K100.0%

% of EOY assets

10.331%

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

$98,096

$96,678+1.5%

$86,640+13.2%

$139,466-29.7%

Participation rate

90.5%

74.4%+16.1pp

71.7%+18.8pp

80.3%+10.1pp

Annual return

13.83%

106.69%-92.9pp

592.52%-578.7pp

373.66%-359.8pp

Employer contribution / active EE

$5,384

$3,265+64.9%

$3,024+78.0%

$4,754+13.2%

Participant deferral / active EE

$6,851

$4,837+41.6%

$4,438+54.4%

$6,712+2.1%

Admin fee / account holder

$10,134

$6,410+58.1%

$5,616+80.5%

$11,409-11.2%

403(B)THRIFT PLAN OF UNITED WAY OF SOUTHEASTERN CONNECTICUT

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

403(B)THRIFT PLAN OF UNITED WAY OF SOUTHEASTERN CONNECTICUT

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