Retirement plan

OCEAN PINES VOLUNTEER FIRE DEPARTMENT, INC. 403(B) PLAN

Name: OCEAN PINES VOLUNTEER FIRE DEPARTMENT, INC. - OCEAN PINES VOLUNTEER FIRE DEPARTMENT, INC. 403(B) PLAN (2016) Form 5500
Creator: OCEAN PINES VOLUNTEER FIRE DEPARTMENT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, OCEAN PINES VOLUNTEER FIRE DEPARTMENT, INC. 403(B) PLAN, OCEAN PINES VOLUNTEER FIRE DEPARTMENT, INC.

OCEAN PINES VOLUNTEER FIRE DEPARTMENT, INC.EIN 23-7405884Plan #001PY 2016

911 OCEAN PARKWAY - OCEAN PINES, MD 21811410-641-8272opvfd.comLinkedIn11-50 employeespublic safety

Prospect flagsLow returnsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$885K

No prior year

Total participants

No prior year

Average account balance

$68,059

No prior year

Annual return

-3.23%

No prior year

Benchmarks

See 310 peers

Peer group

Industry92 - Public Administration

Plan typeDefined contribution

Participants<25

Cohort310 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.72M

Not enough data

1 years with asset history on file

Average account balance

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

$143K

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.

95.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$228K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+16.51%

Not enough data

1 years with return on file

Admin fee / account holder

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

$24

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 codes2F2G2M2T

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.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts 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.

Opportunity flags

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
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

$12K

$1113 / participant

Other / not subdivided$12K100.0%

% of EOY assets

1.384%

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

$68,059

$52,379+29.9%

$46,225+47.2%

$273,972-75.2%

Participation rate

100.0%

84.0%+16.0pp

79.5%+20.5pp

83.0%+17.0pp

Annual return

-3.23%

7.23%-10.5pp

7.57%-10.8pp

41.46%-44.7pp

Employer contribution / active EE

$4,062

$4,226-3.9%

$3,424+18.7%

$4,869-16.6%

Participant deferral / active EE

$5,150

$4,660+10.5%

$3,776+36.4%

$5,287-2.6%

Admin fee / account holder

$942

$4,652-79.8%

$3,519-73.2%

$10,133-90.7%

OCEAN PINES VOLUNTEER FIRE DEPARTMENT, INC. 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

OCEAN PINES VOLUNTEER FIRE DEPARTMENT, INC. 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