Retirement plan

401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF PALISADES FREE LIBRARY

Name: PALISADES FREE LIBRARY - 401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF PALISADES FREE LIBRARY (2024) Form 5500
Creator: PALISADES FREE LIBRARY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF PALISADES FREE LIBRARY, PALISADES FREE LIBRARY

PALISADES FREE LIBRARYEIN 13-1740017Plan #001PY 2024

19 CLOSTER RD - PALISADES, NY 109641527845-359-0136rclf.orgLinkedIn1-10 employeeslibraries

Prospect flagsLow participationLow participant contribution

How to read this page

Total assets (EOY)

$353K

+19.6% from 2023

Total participants

+100.0% from 2023

Average account balance

$50,461

+2.5% from 2023

Annual return

11.09%

-4.21 pp from 2023

Benchmarks

See 479 peers

Peer group

Industry92 - Public Administration

Plan typeDefined contribution

Participants<25

Cohort479 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$353K

Not enough data

1 years with asset history on file

Average account balance

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

$50K

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.

77.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$25K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+11.09%

Not enough data

1 years with return on file

Admin fee / account holder

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

$16

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 codes2G3D2J2E2T

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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 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.

Expense breakdown

Schedule H Part II

Admin total

$114

$13 / participant

Other / not subdivided$114100.0%

% of EOY assets

0.032%

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

$50,461

$85,094-40.7%

$76,327-33.9%

$145,884-65.4%

Participation rate

44.4%

82.9%-38.4pp

79.2%-34.8pp

80.3%-35.9pp

Annual return

11.09%

13.13%-2.0pp

13.79%-2.7pp

551.85%-540.8pp

Employer contribution / active EE

$1,331

$5,261-74.7%

$4,584-71.0%

$4,662-71.5%

Participant deferral / active EE

$1,469

$6,390-77.0%

$5,478-73.2%

$6,690-78.0%

Admin fee / account holder

$16

$5,773-99.7%

$5,139-99.7%

$13,392-99.9%

401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF PALISADES FREE LIBRARY

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF PALISADES FREE LIBRARY

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