Retirement plan

CHILD & FAMILY AGENCY OF SOUTHEASTERN CONNECTICUT 403(B) PLAN

Name: CHILD & FAMILY AGENCY OF SOUTHEASTERN CONNECTICUT, INC. - CHILD & FAMILY AGENCY OF SOUTHEASTERN CONNECTICUT 403(B) PLAN (2024) Form 5500
Creator: CHILD & FAMILY AGENCY OF SOUTHEASTERN CONNECTICUT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CHILD & FAMILY AGENCY OF SOUTHEASTERN CONNECTICUT 403(B) PLAN, CHILD & FAMILY AGENCY OF SOUTHEASTERN CONNECTICUT, INC.

CHILD & FAMILY AGENCY OF SOUTHEASTERN CONNECTICUT, INC.EIN 23-7212022Plan #001PY 2024

PO BOX 120, 7 VAUXHALL STREET - NEW LONDON, CT 06320860-334-0155

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$4.9M

+25.5% from 2023

Total participants

264

-1.5% from 2023

Average account balance

$20,690

+28.6% from 2023

Annual return

13.58%

-3.62 pp from 2023

Benchmarks

See 6,019 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort6,019 peers

Snapshot2024

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$4.92M

Not enough data

1 years with asset history on file

Average account balance

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

$21K

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.

238

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.

88.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.06M

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

+13.58%

Not enough data

1 years with return on file

Admin fee / account holder

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

$173

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

See the 7-year trajectory. $4.99 for your first month.

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY2 years Service code 13 · EIN 42-0127290	Contract Administrator	$41,095
STIFEL NICOLAUS & CO INC2 years Service code 27 · EIN 43-0538770	Advisory (Plan)	$9,619
MORNINGSTAR1 year Filed as: MORNINGSTAR INVESTMENT MANAGEMENT Service code 26 · EIN 36-4317381	Advisory (Participants)	$0

Plan features & details

Pension benefit codes2A2E2F2G2L2M2S2T3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
2L
Code section 403(b)(1) arrangement
Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
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

1 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$41K

$179 / participant

Contract admin$37K90.2%
Other / not subdivided$4K9.8%

% of EOY assets

0.835%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: COHNREZNICK LLP
Auditor EIN: 334144829
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$20,690

$55,472-62.7%

$155,567-86.7%

$74,546-72.2%

Participation rate

88.6%

61.9%+26.7pp

78.2%+10.5pp

67.2%+21.4pp

Annual return

13.58%

268.72%-255.1pp

64.74%-51.2pp

1366.03%-1352.5pp

Employer contribution / active EE

$1,918

$2,269-15.4%

$4,674-59.0%

$2,624-26.9%

Participant deferral / active EE

$2,697

$2,838-5.0%

$5,628-52.1%

$4,347-38.0%

Admin fee / account holder

$173

$1,743-90.1%

$15,916-98.9%

$1,944-91.1%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY2 years

Service code 13 · EIN 42-0127290

Contract Administrator

$41,095

STIFEL NICOLAUS & CO INC2 years

Service code 27 · EIN 43-0538770

Advisory (Plan)

$9,619

MORNINGSTAR1 year

Filed as: MORNINGSTAR INVESTMENT MANAGEMENT

Service code 26 · EIN 36-4317381

Advisory (Participants)

CHILD & FAMILY AGENCY OF SOUTHEASTERN CONNECTICUT 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CHILD & FAMILY AGENCY OF SOUTHEASTERN CONNECTICUT 403(B) 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