Retirement plan

UNITED WAY OF CONNECTICUT, INC. 401(K) RETIREMENT PLAN

Name: UNITED WAY OF CONNECTICUT, INC. - UNITED WAY OF CONNECTICUT, INC. 401(K) RETIREMENT PLAN (2023) Form 5500
Creator: UNITED WAY OF CONNECTICUT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, UNITED WAY OF CONNECTICUT, INC. 401(K) RETIREMENT PLAN, UNITED WAY OF CONNECTICUT, INC.

UNITED WAY OF CONNECTICUT, INC.EIN 06-1084194Plan #002PY 2023

55 CAPITAL BOULEVARD - ROCKY HILL, CT 06067860-571-7500ctunitedway.orgLinkedIn201-500 employeesnon-profit organization management

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$22M

+19.6% from 2022

Total participants

417

+3.5% from 2022

Average account balance

$53,852

+17.9% from 2022

Annual return

16.04%

+30.00 pp from 2022

Benchmarks

See 4,038 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort4,038 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$24.70M

Not enough data

1 years with asset history on file

Average account balance

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

$55K

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.

448

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.

98.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.64M

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

+11.03%

Not enough data

1 years with return on file

Admin fee / account holder

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

$98

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 2 by compensation

Provider	Service type	Compensation
STANCORP FINANCIAL GROUP2 years Service code 12 · EIN 93-1253576	Recordkeeping and information managem...	$33,475
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INSUARNCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$202

Plan features & details

Pension benefit codes2E2F2G2J2S2T3D3F

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.

Opportunity flags

1 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$34K

$112 / participant

Contract admin$34K100.0%

% of EOY assets

0.153%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: COHNREZNICK, LLP
Auditor EIN: 221478099
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$53,852

$47,163+14.2%

$149,696-64.0%

$74,460-27.7%

Participation rate

97.0%

63.4%+33.6pp

78.8%+18.2pp

70.7%+26.3pp

Annual return

16.04%

22.75%-6.7pp

134.46%-118.4pp

34.38%-18.3pp

Employer contribution / active EE

$4,387

$1,907+130.1%

$4,821-9.0%

$2,638+66.3%

Participant deferral / active EE

$3,874

$2,730+41.9%

$5,682-31.8%

$4,530-14.5%

Admin fee / account holder

$83

$343-75.9%

$13,212-99.4%

$348-76.3%

Provider

Service type

Compensation

STANCORP FINANCIAL GROUP2 years

Service code 12 · EIN 93-1253576

Recordkeeping and information managem...

$33,475

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INSUARNCE COMPANY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$202

UNITED WAY OF CONNECTICUT, INC. 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

UNITED WAY OF CONNECTICUT, INC. 401(K) RETIREMENT 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