Retirement plan

LIBRARY SYSTEM OF LANCASTER COUNTY 403(B) DEFINED CONTRIBUTION RETIREMENT PLAN

Name: LIBRARY SYSTEM OF LANCASTER COUNTY - LIBRARY SYSTEM OF LANCASTER COUNTY 403(B) DEFINED CONTRIBUTION RETIREMENT PLAN (2024) Form 5500
Creator: LIBRARY SYSTEM OF LANCASTER COUNTY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LIBRARY SYSTEM OF LANCASTER COUNTY 403(B) DEFINED CONTRIBUTION RETIREMENT PLAN, LIBRARY SYSTEM OF LANCASTER COUNTY

LIBRARY SYSTEM OF LANCASTER COUNTYEIN 23-2495408Plan #001PY 2024

1866 COLONIAL VILLAGE LN #107 - LANCASTER, PA 17601717-207-0500lancasterlibraries.orgLinkedIn11-50 employeeslibraries

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$3.9M

+19.5% from 2023

Total participants

+16.7% from 2023

Average account balance

$186,903

-3.3% from 2023

Annual return

15.65%

-3.37 pp from 2023

Benchmarks

See 12,288 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants<25

Cohort12,288 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.92M

Not enough data

1 years with asset history on file

Average account balance

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

$187K

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

$162K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+15.65%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1696

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 codes2E2F2G2J2L2T3D

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.
2L
Code section 403(b)(1) arrangement
Plan uses a Code section 403(b)(1) annuity contract 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

1 tripped

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

$36K

$1696 / participant

Other / not subdivided$36K100.0%

% of EOY assets

0.908%

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

$186,903

$108,897+71.6%

$100,378+86.2%

$145,877+28.1%

Participation rate

100.0%

83.0%+17.0pp

81.5%+18.5pp

80.3%+19.7pp

Annual return

15.65%

58.17%-42.5pp

49.41%-33.8pp

551.28%-535.6pp

Employer contribution / active EE

$2,228

$4,420-49.6%

$3,942-43.5%

$4,663-52.2%

Participant deferral / active EE

$5,471

$8,455-35.3%

$8,087-32.4%

$6,691-18.2%

Admin fee / account holder

$1,696

$9,690-82.5%

$7,899-78.5%

$13,402-87.3%

LIBRARY SYSTEM OF LANCASTER COUNTY 403(B) DEFINED CONTRIBUTION RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LIBRARY SYSTEM OF LANCASTER COUNTY 403(B) DEFINED CONTRIBUTION RETIREMENT PLAN

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