Retirement plan

ECONOMIC OPPORTUNITY PROGRAM, INC. 403(B) PLAN

Name: ECONOMIC OPPORTUNITY PROGRAM, INC. - ECONOMIC OPPORTUNITY PROGRAM, INC. 403(B) PLAN (2016) Form 5500
Creator: ECONOMIC OPPORTUNITY PROGRAM, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ECONOMIC OPPORTUNITY PROGRAM, INC. 403(B) PLAN, ECONOMIC OPPORTUNITY PROGRAM, INC.

ECONOMIC OPPORTUNITY PROGRAM, INC.EIN 16-0906941Plan #001PY 2016

650 BALDWIN STREET - ELMIRA, NY 14901607-734-6174LinkedIn51-200 employeeshospital & health care

Prospect flagsLow participationLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$2.9M

+1.2% from 2015

Total participants

290

-4.6% from 2015

Average account balance

$16,292

+12.1% from 2015

Annual return

5.33%

+5.43 pp from 2015

Benchmarks

See 1,686 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants100-249

Cohort1,686 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.46M

Not enough data

1 years with asset history on file

Average account balance

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

$30K

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.

147

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.

65.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$239K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+12.30%

Not enough data

1 years with return on file

Admin fee / account holder

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

$189

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 2 by compensation

Provider	Service type	Compensation
CHEMUNG CANAL TRUST COMPANY2+ years Service code 13 P.O. BOX 1522 · ELMIRA, NY 14902	Contract Administrator	$14,984
AXA EQUITABLE LIFE INSURANCE CO2+ years Filed as: AXA EQUITABLE LIFE INSURANCE CO. Service code 25 · EIN 13-5570651	Directed Trustee	$4

Plan features & details

Pension benefit codes2A2G2L2M

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).
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.

Opportunity flags

3 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.
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

$17K

$105 / participant

Contract admin$2K13.2%
Other / not subdivided$15K86.8%

% of EOY assets

0.595%

all-in expense ratio

Categories reported

1 / 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: INSERO & CO. CPAS, LLP
Auditor EIN: 475324570
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$16,292

$43,423-62.5%

$78,676-79.3%

$55,167-70.5%

Participation rate

31.1%

68.0%-36.9pp

73.6%-42.5pp

69.0%-37.9pp

Annual return

5.33%

11.53%-6.2pp

62.19%-56.9pp

169.23%-163.9pp

Employer contribution / active EE

$525

$1,997-73.7%

$2,850-81.6%

$1,963-73.3%

Participant deferral / active EE

$326

$2,509-87.0%

$3,517-90.7%

$3,054-89.3%

Admin fee / account holder

$97

$416-76.7%

$4,510-97.9%

$504-80.8%

Provider

Service type

Compensation

CHEMUNG CANAL TRUST COMPANY2+ years

Service code 13

P.O. BOX 1522 · ELMIRA, NY 14902

Contract Administrator

$14,984

AXA EQUITABLE LIFE INSURANCE CO2+ years

Filed as: AXA EQUITABLE LIFE INSURANCE CO.

Service code 25 · EIN 13-5570651

Directed Trustee

ECONOMIC OPPORTUNITY PROGRAM, INC. 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ECONOMIC OPPORTUNITY PROGRAM, 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