Retirement plan

MINNESOTA LITERACY COUNCIL 401(K) PLAN

Name: MINNESOTA LITERACY COUNCIL, INC. - MINNESOTA LITERACY COUNCIL 401(K) PLAN (2017) Form 5500
Creator: MINNESOTA LITERACY COUNCIL, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MINNESOTA LITERACY COUNCIL 401(K) PLAN, MINNESOTA LITERACY COUNCIL, INC.

MINNESOTA LITERACY COUNCIL, INC.EIN 23-7217182Plan #001PY 2017

700 RAYMOND AVENUE, SUITE 180 - SAINT PAUL, MN 55114651-645-2277literacymn.orgLinkedIn11-50 employeeseducation management

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$2M

+26.2% from 2016

Total participants

+10.9% from 2016

Average account balance

$32,358

+20.2% from 2016

Annual return

17.56%

+8.87 pp from 2016

Benchmarks

See 3,770 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants25-99

Cohort3,770 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.62M

Not enough data

1 years with asset history on file

Average account balance

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

$69K

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.

77.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$273K

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

+14.59%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6207

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 codes2E2F2G2J3D2T

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.
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

$59K

$1196 / participant

Other / not subdivided$59K100.0%

% of EOY assets

2.875%

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

$32,358

$45,041-28.2%

$63,003-48.6%

$70,131-53.9%

Participation rate

83.7%

69.5%+14.1pp

74.8%+8.9pp

69.5%+14.1pp

Annual return

17.56%

18.76%-1.2pp

87.59%-70.0pp

73.14%-55.6pp

Employer contribution / active EE

$940

$2,052-54.2%

$2,760-65.9%

$2,342-59.9%

Participant deferral / active EE

$3,042

$2,465+23.4%

$3,329-8.6%

$3,332-8.7%

Admin fee / account holder

$930

$2,836-67.2%

$3,600-74.2%

$4,645-80.0%

MINNESOTA LITERACY COUNCIL 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MINNESOTA LITERACY COUNCIL 401(K) 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