Retirement plan

FINGER LAKES AREA COUNSELING AND RECOVERY AGENCY 403(B) PLAN

Name: FINGER LAKES AREA COUNSELING AND RECOVERY AGENCY - FINGER LAKES AREA COUNSELING AND RECOVERY AGENCY 403(B) PLAN (2020) Form 5500
Creator: FINGER LAKES AREA COUNSELING AND RECOVERY AGENCY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FINGER LAKES AREA COUNSELING AND RECOVERY AGENCY 403(B) PLAN, FINGER LAKES AREA COUNSELING AND RECOVERY AGENCY

FINGER LAKES AREA COUNSELING AND RECOVERY AGENCYEIN 16-1013292Plan #003PY 2020

28 E. MAIN ST. - CLIFTON SPRINGS, NY 14432315-462-9162

Prospect flagsLow assets / participant

How to read this page

Total assets (EOY)

$3.1M

+34.0% from 2019

Total participants

403

+17.5% from 2019

Average account balance

$7,744

+14.0% from 2019

Annual return

27.78%

-0.79 pp from 2019

Benchmarks

See 5,414 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,414 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.83M

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.

446

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.

93.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$678K

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

+14.87%

Not enough data

1 years with return on file

Admin fee / account holder

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

$91

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
CANANDAIGUA NATIONAL BANK & TRUST5 years Filed as: CANANDAIGUA NATIONAL BANK AND TRUST Service code 21 · EIN 16-0373410	Bank Trustee	$22,886

Plan features & details

Pension benefit codes2F2G2K2M2T3D

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

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

Expense breakdown

Schedule H Part II

Admin total

$23K

$107 / participant

Other / not subdivided$23K100.0%

% of EOY assets

0.733%

all-in expense ratio

Categories reported

0 / 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: EFPR GROUP CPAS PLLC
Auditor EIN: 474526160
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$7,744

$58,895-86.9%

$178,503-95.7%

$73,497-89.5%

Participation rate

100.0%

66.2%+33.8pp

81.9%+18.1pp

70.7%+29.3pp

Annual return

27.78%

24.86%+2.9pp

151.12%-123.3pp

28.51%-0.7pp

Employer contribution / active EE

$882

$2,236-60.6%

$5,011-82.4%

$2,270-61.2%

Participant deferral / active EE

$1,132

$2,567-55.9%

$5,202-78.2%

$3,740-69.7%

Admin fee / account holder

$57

$400-85.8%

$13,987-99.6%

$513-88.9%

Provider

Service type

Compensation

CANANDAIGUA NATIONAL BANK & TRUST5 years

Filed as: CANANDAIGUA NATIONAL BANK AND TRUST

Service code 21 · EIN 16-0373410

Bank Trustee

$22,886

FINGER LAKES AREA COUNSELING AND RECOVERY AGENCY 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FINGER LAKES AREA COUNSELING AND RECOVERY AGENCY 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