Retirement plan

RED HOOK INITIATIVE 403(B)

Name: RED HOOK INITIATIVE - RED HOOK INITIATIVE 403(B) (2023) 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 2023

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

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$246K

-23.0% from 2020

Total participants

-5.6% from 2020

Average account balance

$22,347

-23.0% from 2020

Annual return

25.06%

+6.77 pp from 2020

Benchmarks

See 107,959 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort107,959 peers

Snapshot2023

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

2 tripped

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

$5K

$375 / participant

Other / not subdivided$5K100.0%

% of EOY assets

2.137%

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

$22,347

$175,259-87.2%

$149,723-85.1%

$139,487-84.0%

Participation rate

57.1%

83.4%-26.3pp

78.8%-21.6pp

80.3%-23.2pp

Annual return

25.06%

166.82%-141.8pp

134.50%-109.4pp

373.84%-348.8pp

Employer contribution / active EE

$5,478-100.0%

$4,821-100.0%

$4,755-100.0%

Participant deferral / active EE

$2,297

$6,522-64.8%

$5,682-59.6%

$6,713-65.8%

Admin fee / account holder

$478

$16,158-97.0%

$13,215-96.4%

$11,407-95.8%

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