Retirement plan

OCCUPATIONAL CENTER OF UNION COUNTY, INC TAX DEFER & THRIFT 403(B)

Name: OCCUPATIONAL CENTER OF UNION COUNTY, INC - OCCUPATIONAL CENTER OF UNION COUNTY, INC TAX DEFER & THRIFT 403(B) (2023) Form 5500
Creator: OCCUPATIONAL CENTER OF UNION COUNTY, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, OCCUPATIONAL CENTER OF UNION COUNTY, INC TAX DEFER & THRIFT 403(B), OCCUPATIONAL CENTER OF UNION COUNTY, INC

OCCUPATIONAL CENTER OF UNION COUNTY, INCEIN 22-1639789Plan #002PY 2023

301 COX STREET - ROSELLE, NJ 07203908-241-7200occupationalcenter.orgLinkedIn11-50 employees

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$1.8M

+18.3% from 2022

Total participants

116

+17.2% from 2022

Average account balance

$23,463

+12.1% from 2022

Annual return

13.37%

+28.04 pp from 2022

Benchmarks

See 20,801 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort20,801 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.55M

Not enough data

1 years with asset history on file

Average account balance

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

$19K

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.

106.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$114K

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

+8.86%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6486

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 codes2F2G2S2T3D

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

$51K

$911 / participant

Other / not subdivided$51K100.0%

% of EOY assets

2.824%

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

$23,463

$77,908-69.9%

$149,696-84.3%

$75,173-68.8%

Participation rate

30.4%

65.6%-35.2pp

78.8%-48.4pp

67.2%-36.8pp

Annual return

13.37%

31.73%-18.4pp

134.46%-121.1pp

160.72%-147.4pp

Employer contribution / active EE

$690

$3,138-78.0%

$4,821-85.7%

$2,671-74.2%

Participant deferral / active EE

$1,501

$3,411-56.0%

$5,682-73.6%

$4,126-63.6%

Admin fee / account holder

$663

$5,950-88.9%

$13,212-95.0%

$5,651-88.3%

OCCUPATIONAL CENTER OF UNION COUNTY, INC TAX DEFER & THRIFT 403(B)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

OCCUPATIONAL CENTER OF UNION COUNTY, INC TAX DEFER & THRIFT 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