Retirement plan

OCEAN PINES VOLUNTEER FIRE DEPARTMENT, INC. 403B PLAN

Name: OCEAN PINES VOLUNTEER FIRE FIRE DEPARTMENT, INC. - OCEAN PINES VOLUNTEER FIRE DEPARTMENT, INC. 403B PLAN (2022) Form 5500
Creator: OCEAN PINES VOLUNTEER FIRE FIRE DEPARTMENT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, OCEAN PINES VOLUNTEER FIRE DEPARTMENT, INC. 403B PLAN, OCEAN PINES VOLUNTEER FIRE FIRE DEPARTMENT, INC.

OCEAN PINES VOLUNTEER FIRE FIRE DEPARTMENT, INC.EIN 23-7405884Plan #001PY 2022

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

Prospect flagsLow fidelity bond

How to read this page

Total assets (EOY)

$1.8M

-20.6% from 2021

Total participants

+42.9% from 2021

Average account balance

$100,706

-38.2% from 2021

Annual return

-6.24%

-42.89 pp from 2021

Benchmarks

See 427 peers

Peer group

Industry92 - Public Administration

Plan typeDefined contribution

Participants<25

Cohort427 peers

Snapshot2022

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 codes2F2G2M2T3D

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.
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

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

$260

$14 / participant

Other / not subdivided$260100.0%

% of EOY assets

0.014%

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

$100,706

$67,214+49.8%

$61,491+63.8%

$134,532-25.1%

Participation rate

88.9%

83.7%+5.2pp

79.3%+9.6pp

81.2%+7.7pp

Annual return

-6.24%

-12.08%+5.8pp

-12.98%+6.7pp

418.27%-424.5pp

Employer contribution / active EE

$3,620

$4,974-27.2%

$4,246-14.7%

$4,741-23.6%

Participant deferral / active EE

$4,636

$6,103-24.0%

$5,188-10.7%

$6,401-27.6%

Admin fee / account holder

$14

$4,610-99.7%

$4,312-99.7%

$11,429-99.9%

OCEAN PINES VOLUNTEER FIRE DEPARTMENT, INC. 403B PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

OCEAN PINES VOLUNTEER FIRE DEPARTMENT, INC. 403B 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