Retirement plan

LOCKPORT PUBLIC LIBRARY 401(K) PLAN

Name: LOCKPORT PUBLIC LIBRARY 401(K) PLAN - LOCKPORT PUBLIC LIBRARY 401(K) PLAN (2015) Form 5500
Creator: LOCKPORT PUBLIC LIBRARY 401(K) PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LOCKPORT PUBLIC LIBRARY 401(K) PLAN, LOCKPORT PUBLIC LIBRARY 401(K) PLAN

LOCKPORT PUBLIC LIBRARY 401(K) PLANEIN 16-6000556Plan #001PY 2015

23 EAST AVE - LOCKPORT, NY 140940475716-433-5935lockportlibrary.orgLinkedIn11-50 employeeslibraries

Prospect flagsLow participation

How to read this page

Total assets (EOY)

$574K

No prior year

Total participants

No prior year

Average account balance

$63,831

No prior year

Annual return

-2.24%

No prior year

Benchmarks

See 2,754 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants25-99

Cohort2,754 peers

Snapshot2015

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.09M

Not enough data

1 years with asset history on file

Average account balance

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

$109K

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.

30.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$16K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$475

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

+15.17%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3741

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 codes2E2F2G2J2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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

1 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.

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

$63,831

$52,911+20.6%

$73,309-12.9%

$59,633+7.0%

Participation rate

0.0%

68.2%-68.2pp

74.9%-74.9pp

68.7%-68.7pp

Annual return

-2.24%

12.20%-14.4pp

5.67%-7.9pp

2041.45%-2043.7pp

Employer contribution / active EE

$1,909-100.0%

$3,237-100.0%

$2,203-100.0%

Participant deferral / active EE

$1,841

$4,069-54.8%

$4,991-63.1%

$3,192-42.3%

Admin fee / account holder

$3,835-100.0%

$5,635-100.0%

$4,297-100.0%

LOCKPORT PUBLIC LIBRARY 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

LOCKPORT PUBLIC LIBRARY 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion