Retirement plan

403(B) THRIFT PLAN OF EASTERN CONNECTICUT AREA AGENCY ON AGING

Name: EASTERN CONNECTICUT AREA AGENCY ON AGING, INC. - 403(B) THRIFT PLAN OF EASTERN CONNECTICUT AREA AGENCY ON AGING (2023) Form 5500
Creator: EASTERN CONNECTICUT AREA AGENCY ON AGING, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 403(B) THRIFT PLAN OF EASTERN CONNECTICUT AREA AGENCY ON AGING, EASTERN CONNECTICUT AREA AGENCY ON AGING, INC.

EASTERN CONNECTICUT AREA AGENCY ON AGING, INC.EIN 06-0916608Plan #001PY 2023

19 OHIO AVENUE - NORWICH, CT 06360860-887-3561

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.8M

+6.2% from 2022

Total participants

+12.5% from 2022

Average account balance

$79,081

+6.2% from 2022

Annual return

11.66%

+25.28 pp from 2022

Benchmarks

See 108,045 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort108,045 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.29M

Not enough data

1 years with asset history on file

Average account balance

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

$82K

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.

127.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$166K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+26.23%

Not enough data

1 years with return on file

Admin fee / account holder

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

$12552

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 codes2F2G2L2T3D

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.
2L
Code section 403(b)(1) arrangement
Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$193K

$9201 / participant

Other / not subdivided$193K100.0%

% of EOY assets

10.623%

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

$79,081

$175,257-54.9%

$149,717-47.2%

$139,456-43.3%

Participation rate

81.0%

83.4%-2.4pp

78.8%+2.2pp

80.3%+0.6pp

Annual return

11.66%

166.70%-155.0pp

134.41%-122.7pp

373.45%-361.8pp

Employer contribution / active EE

$2,190

$5,477-60.0%

$4,820-54.6%

$4,753-53.9%

Participant deferral / active EE

$2,571

$6,521-60.6%

$5,682-54.8%

$6,711-61.7%

Admin fee / account holder

$8,401

$16,156-48.0%

$13,213-36.4%

$11,407-26.4%

403(B) THRIFT PLAN OF EASTERN CONNECTICUT AREA AGENCY ON AGING

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

403(B) THRIFT PLAN OF EASTERN CONNECTICUT AREA AGENCY ON AGING

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