Retirement plan

403(B) THRIFT PLAN FOR MURTIS TAYLOR HUMAN SERVICES SYSTEM

Name: MURTIS TAYLOR HUMAN SERVICES SYSTEM - 403(B) THRIFT PLAN FOR MURTIS TAYLOR HUMAN SERVICES SYSTEM (2023) Form 5500
Creator: MURTIS TAYLOR HUMAN SERVICES SYSTEM
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 403(B) THRIFT PLAN FOR MURTIS TAYLOR HUMAN SERVICES SYSTEM, MURTIS TAYLOR HUMAN SERVICES SYSTEM

MURTIS TAYLOR HUMAN SERVICES SYSTEMEIN 23-7158458Plan #003PY 2023

13422 KINSMAN ROAD - CLEVELAND, OH 44120216-283-4400murtistaylor.orgLinkedIn201-500 employeesindividual & family services

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$7.2M

+10.9% from 2022

Total participants

266

+1.1% from 2022

Average account balance

$33,445

+18.1% from 2022

Annual return

13.92%

+28.80 pp from 2022

Benchmarks

See 5,703 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,703 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.50M

Not enough data

1 years with asset history on file

Average account balance

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

$41K

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.

183

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.

78.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$457K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+11.99%

Not enough data

1 years with return on file

Admin fee / account holder

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

$278

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 4 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY9+ years Service code 13 · EIN 42-0127290	Contract Administrator	$46,249
GLOBAL RETIREMENT PARTNERS LLC9+ years Service code 27	Advisory (Plan)	$19,134
CBIZ RETIREMENT PLAN SERVICES8 years Filed as: CBIZ BENEFITS & INSURANCE Service code 49 · EIN 31-1582098	Other Services	$5,659
GLOBAL RETIREMENT PARTNERS LLC9+ years Filed as: GLOBAL RETIREMENT PARTNERS INC Service code 27 · EIN 47-1411118	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2F2G2T2L3D2K

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$46K

$232 / participant

Contract admin$46K100.0%

% of EOY assets

0.645%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: MALONEY & NOVOTNY, LLC
Auditor EIN: 340677006
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$33,445

$61,391-45.5%

$149,723-77.7%

$71,529-53.2%

Participation rate

74.5%

62.5%+12.0pp

78.8%-4.3pp

67.9%+6.6pp

Annual return

13.92%

35.88%-22.0pp

134.50%-120.6pp

28.97%-15.1pp

Employer contribution / active EE

$1,046

$2,384-56.1%

$4,821-78.3%

$2,590-59.6%

Participant deferral / active EE

$1,556

$2,921-46.7%

$5,682-72.6%

$4,291-63.7%

Admin fee / account holder

$216

$1,264-82.9%

$13,215-98.4%

$1,588-86.4%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY9+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$46,249

GLOBAL RETIREMENT PARTNERS LLC9+ years

Service code 27

Advisory (Plan)

$19,134

CBIZ RETIREMENT PLAN SERVICES8 years

Filed as: CBIZ BENEFITS & INSURANCE

Service code 49 · EIN 31-1582098

Other Services

$5,659

GLOBAL RETIREMENT PARTNERS LLC9+ years

Filed as: GLOBAL RETIREMENT PARTNERS INC

Service code 27 · EIN 47-1411118

Advisory (Plan)

403(B) THRIFT PLAN FOR MURTIS TAYLOR HUMAN SERVICES SYSTEM

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

403(B) THRIFT PLAN FOR MURTIS TAYLOR HUMAN SERVICES SYSTEM

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