Retirement plan

RED HOOK INITIATIVE 403(B)

Name: RED HOOK INITIATIVE - RED HOOK INITIATIVE 403(B) (2024) Form 5500
Creator: RED HOOK INITIATIVE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RED HOOK INITIATIVE 403(B), RED HOOK INITIATIVE

RED HOOK INITIATIVEEIN 20-3904662Plan #001PY 2024

767 HICKS ST - BROOKLYN, NY 11231718-858-6782rhicenter.orgLinkedIn51-200 employeesnon-profit organization management

Prospect flagsHigh feesLow participationLow participant contribution

How to read this page

Total assets (EOY)

$249K

+1.5% from 2023

Total participants

-11.8% from 2023

Average account balance

$27,718

+24.0% from 2023

Annual return

14.36%

-10.71 pp from 2023

Benchmarks

See 109,389 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort109,389 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$249K

Not enough data

1 years with asset history on file

Average account balance

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

$28K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$12K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+14.36%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4986

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 codes2M3D2G2F2T

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.
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

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.
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

$45K

$4986 / participant

Other / not subdivided$45K100.0%

% of EOY assets

17.988%

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

$27,718

$183,592-84.9%

$155,574-82.2%

$145,877-81.0%

Participation rate

33.3%

82.7%-49.4pp

78.2%-44.9pp

80.3%-47.0pp

Annual return

14.36%

61.37%-47.0pp

64.87%-50.5pp

551.28%-536.9pp

Employer contribution / active EE

$5,317-100.0%

$4,676-100.0%

$4,663-100.0%

Participant deferral / active EE

$1,305

$6,466-79.8%

$5,629-76.8%

$6,691-80.5%

Admin fee / account holder

$4,986

$19,316-74.2%

$15,914-68.7%

$13,402-62.8%

RED HOOK INITIATIVE 403(B)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RED HOOK INITIATIVE 403(B)

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