Retirement plan

BROOKLYN COMMUNITY SERVICES 403(B) PLAN

Name: BROOKLYN BUREAU OF COMMUNITY SERVICE - BROOKLYN COMMUNITY SERVICES 403(B) PLAN (2020) Form 5500
Creator: BROOKLYN BUREAU OF COMMUNITY SERVICE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BROOKLYN COMMUNITY SERVICES 403(B) PLAN, BROOKLYN BUREAU OF COMMUNITY SERVICE

BROOKLYN BUREAU OF COMMUNITY SERVICEEIN 11-1630780Plan #003PY 2020

285 SCHERMERHORN STREET - BROOKLYN, NY 11217718-310-5600LinkedIn1-10 employeesmedical practice

Other plans on this EIN

1 filing

#001Retirement-$6.6M assets

Prospect flagsLow participationLow employer contributionLow participant contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$4.2M

+17.0% from 2019

Total participants

717

-20.2% from 2019

Average account balance

$24,852

+17.6% from 2019

Annual return

15.83%

-7.02 pp from 2019

Benchmarks

See 3,872 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort3,872 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.25M

Not enough data

1 years with asset history on file

Average account balance

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

$25K

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.

171

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.

12.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$269K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$433

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

+15.83%

Not enough data

1 years with return on file

Admin fee / account holder

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

$96

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

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Service providers

Top 8 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years Service code 52 · EIN 04-1590850	Indirect Investment Fees	$16,353
MORGAN STANLEY SMITH BARNEY6+ years Filed as: MORGAN STANLEY INS SERVICES INC Service code 53 · EIN 51-0116113	Insurance Commissions	$6,027
AMERICAN FUNDS4 years Service code 52 · EIN 95-1411037	Indirect Investment Fees	$0
DELAWARE INVESTMENTS4 years Service code 52 · EIN 23-2651520	Indirect Investment Fees	$0
FRANKLIN TEMPLETON4 years Filed as: FRANKLINTEMPLETON Service code 52 · EIN 13-3151768	Indirect Investment Fees	$0
INVESCO4 years Service code 52 · EIN 84-0933032	Indirect Investment Fees	$0
T ROWE PRICE RPS INC4 years Filed as: T. ROWE PRICE Service code 52 · EIN 52-1151266	Indirect Investment Fees	$0
THE VANGUARD GROUP, INC.4 years Filed as: VANGUARD Service code 52 · EIN 23-1999755	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2M2L2A2F2G2T

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.

Opportunity flags

5 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$16K

$26 / participant

Investment mgmt$15K89.1%
Contract admin$2K10.9%

% of EOY assets

0.385%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: MARKS PANETH LLP
Auditor EIN: 113518842
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$24,852

$52,293-52.5%

$178,498-86.1%

$73,412-66.1%

Participation rate

12.1%

65.3%-53.3pp

81.9%-69.9pp

72.2%-60.1pp

Annual return

15.83%

34.75%-18.9pp

151.09%-135.3pp

59.30%-43.5pp

Employer contribution / active EE

$48

$1,735-97.2%

$5,011-99.0%

$2,234-97.9%

Participant deferral / active EE

$385

$2,332-83.5%

$5,202-92.6%

$3,806-89.9%

Admin fee / account holder

$96

$127-24.9%

$13,985-99.3%

$158-39.4%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$16,353

MORGAN STANLEY SMITH BARNEY6+ years

Filed as: MORGAN STANLEY INS SERVICES INC

Service code 53 · EIN 51-0116113

Insurance Commissions

$6,027

AMERICAN FUNDS4 years

Service code 52 · EIN 95-1411037

Indirect Investment Fees

DELAWARE INVESTMENTS4 years

Service code 52 · EIN 23-2651520

Indirect Investment Fees

FRANKLIN TEMPLETON4 years

Filed as: FRANKLINTEMPLETON

Service code 52 · EIN 13-3151768

Indirect Investment Fees

INVESCO4 years

Service code 52 · EIN 84-0933032

Indirect Investment Fees

T ROWE PRICE RPS INC4 years

Filed as: T. ROWE PRICE

Service code 52 · EIN 52-1151266

Indirect Investment Fees

THE VANGUARD GROUP, INC.4 years

Filed as: VANGUARD

Service code 52 · EIN 23-1999755

Indirect Investment Fees

BROOKLYN COMMUNITY SERVICES 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BROOKLYN COMMUNITY SERVICES 403(B) 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