Retirement plan

UNITED WAY OF THE MOHAWK VALLEY, INC. 403(B) PLAN

Name: UNITED WAY OF THE MOHAWK VALLEY, INC. - UNITED WAY OF THE MOHAWK VALLEY, INC. 403(B) PLAN (2023) Form 5500
Creator: UNITED WAY OF THE MOHAWK VALLEY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, UNITED WAY OF THE MOHAWK VALLEY, INC. 403(B) PLAN, UNITED WAY OF THE MOHAWK VALLEY, INC.

UNITED WAY OF THE MOHAWK VALLEY, INC.EIN 15-0532074Plan #006PY 2023

258 GENESEE STREET - UTICA, NY 13502315-733-4691unitedwaymv.orgLinkedIn11-50 employeesfund-raising

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$496K

-24.8% from 2022

Total participants

-10.5% from 2022

Average account balance

$31,004

-10.7% from 2022

Annual return

13.83%

+32.75 pp from 2022

Benchmarks

See 108,131 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort108,131 peers

Snapshot2023

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Analytics

Total assets (EOY)

Plan-year ending balance

$278K

Not enough data

1 years with asset history on file

Average account balance

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

$17K

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.

145.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$46K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+17.18%

Not enough data

1 years with return on file

Admin fee / account holder

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

$522

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

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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 codes2F2G2L2M2T3D

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.
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

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

$318K

$52926 / participant

Other / not subdivided$318K100.0%

% of EOY assets

64.015%

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: -

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$31,004

$175,202-82.3%

$149,673-79.3%

$139,434-77.8%

Participation rate

83.3%

83.4%0pp

78.8%+4.6pp

80.3%+3.0pp

Annual return

13.83%

166.71%-152.9pp

134.42%-120.6pp

372.94%-359.1pp

Employer contribution / active EE

$3,508

$5,474-35.9%

$4,818-27.2%

$4,751-26.2%

Participant deferral / active EE

$5,775

$6,519-11.4%

$5,680+1.7%

$6,710-13.9%

Admin fee / account holder

$19,847

$16,150+22.9%

$13,210+50.2%

$11,403+74.1%

UNITED WAY OF THE MOHAWK VALLEY, INC. 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

UNITED WAY OF THE MOHAWK VALLEY, INC. 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