Retirement plan

403(B) THRIFT PLAN FOR EMPLOYEES OF THE ARC EASTERN CONNECTICUT, INC.

Name: THE ARC EASTERN CONNECTICUT, INC. - 403(B) THRIFT PLAN FOR EMPLOYEES OF THE ARC EASTERN CONNECTICUT, INC. (2024) Form 5500
Creator: THE ARC EASTERN CONNECTICUT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 403(B) THRIFT PLAN FOR EMPLOYEES OF THE ARC EASTERN CONNECTICUT, INC., THE ARC EASTERN CONNECTICUT, INC.

THE ARC EASTERN CONNECTICUT, INC.EIN 06-6010477Plan #001PY 2024

125 SACHEM ST - NORWICH, CT 063604128860-889-4435thearcect.orgLinkedIn201-500 employeesindividual & family services

Prospect flagsLow assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$4.1M

+16.3% from 2023

Total participants

424

+5.7% from 2023

Average account balance

$10,167

-45.3% from 2023

Annual return

14.66%

+3.59 pp from 2023

Benchmarks

See 1,034 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants250-999

Cohort1,034 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.42M

Not enough data

1 years with asset history on file

Average account balance

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

$11K

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.

396

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.

66.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$668K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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)

$15

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 1 by compensation

Provider	Service type	Compensation
MUTUAL OF AMERICA INVESTMENT CORP5 years Service code 12 320 PARK AVENUE · NEW YORK, NY 10022	Account maintenance fees; Recordkeepi...	$4,742

Plan features & details

Pension benefit codes2G3D2F2L2E2T2M

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.
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.
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

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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

$5K

$15 / participant

Recordkeeping$5K100.0%

% of EOY assets

0.114%

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

$10,167

$66,004-84.6%

$81,820-87.6%

$77,714-86.9%

Participation rate

95.0%

65.8%+29.2pp

72.4%+22.6pp

70.6%+24.4pp

Annual return

14.66%

26.65%-12.0pp

777.93%-763.3pp

31.26%-16.6pp

Employer contribution / active EE

$416

$2,375-82.5%

$2,915-85.7%

$2,727-84.7%

Participant deferral / active EE

$1,094

$3,508-68.8%

$4,323-74.7%

$4,649-76.5%

Admin fee / account holder

$12

$527-97.8%

$7,391-99.8%

$433-97.3%

Provider

Service type

Compensation

MUTUAL OF AMERICA INVESTMENT CORP5 years

Service code 12

320 PARK AVENUE · NEW YORK, NY 10022

Account maintenance fees; Recordkeepi...

$4,742

403(B) THRIFT PLAN FOR EMPLOYEES OF THE ARC EASTERN CONNECTICUT, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

403(B) THRIFT PLAN FOR EMPLOYEES OF THE ARC EASTERN CONNECTICUT, 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