Retirement plan

403(B) THRIFT PLAN FOR EMPLOYEES OF MASSACHUSETTS ASSOCIATION FOR COMMUNITY ACTION, INC.

Name: MASSACHUSETTS ASSOCIATION FOR - 403(B) THRIFT PLAN FOR EMPLOYEES OF MASSACHUSETTS ASSOCIATION FOR COMMUNITY ACTION, INC. (2024) Form 5500
Creator: MASSACHUSETTS ASSOCIATION FOR
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 403(B) THRIFT PLAN FOR EMPLOYEES OF MASSACHUSETTS ASSOCIATION FOR COMMUNITY ACTION, INC., MASSACHUSETTS ASSOCIATION FOR

MASSACHUSETTS ASSOCIATION FOREIN 22-2777630Plan #001PY 2024

105 CHAUNCY ST - BOSTON, MA 021111726617-357-6086

Prospect flagsHigh feesLow employer contributionLow fidelity bond

How to read this page

Total assets (EOY)

$863K

+63.0% from 2023

Total participants

+28.6% from 2023

Average account balance

$107,818

+22.2% from 2023

Annual return

22.15%

+26.33 pp from 2023

Benchmarks

See 109,298 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort109,298 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$863K

Not enough data

1 years with asset history on file

Average account balance

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

$108K

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

$36K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+22.15%

Not enough data

1 years with return on file

Admin fee / account holder

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

$659

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 codes2G3D2J2E2T

Plan features

2E
Profit-sharing
Profit-sharing plan.
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

3 tripped

OpportunityLow employer contribution
Employer 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.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$5K

$659 / participant

Other / not subdivided$5K100.0%

% of EOY assets

0.612%

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

$107,818

$183,516-41.2%

$155,534-30.7%

$145,884-26.1%

Participation rate

87.5%

82.7%+4.8pp

78.2%+9.3pp

80.3%+7.2pp

Annual return

22.15%

61.43%-39.3pp

64.92%-42.8pp

551.85%-529.7pp

Employer contribution / active EE

$916

$5,315-82.8%

$4,675-80.4%

$4,662-80.4%

Participant deferral / active EE

$3,641

$6,467-43.7%

$5,630-35.3%

$6,690-45.6%

Admin fee / account holder

$659

$19,293-96.6%

$15,900-95.9%

$13,392-95.1%

403(B) THRIFT PLAN FOR EMPLOYEES OF MASSACHUSETTS ASSOCIATION FOR COMMUNITY ACTION, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

403(B) THRIFT PLAN FOR EMPLOYEES OF MASSACHUSETTS ASSOCIATION FOR COMMUNITY ACTION, INC.

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