Retirement plan

WESTMORELAND COMMUNITY ACTION 403(B)

Name: WESTMORELAND COMMUNITY ACTION - WESTMORELAND COMMUNITY ACTION 403(B) (2020) Form 5500
Creator: WESTMORELAND COMMUNITY ACTION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WESTMORELAND COMMUNITY ACTION 403(B), WESTMORELAND COMMUNITY ACTION

WESTMORELAND COMMUNITY ACTIONEIN 25-1383079Plan #001PY 2020

226 SOUTH MAPLE AVE - GREENSBURG, PA 15601724-834-1260westmorelandca.orgLinkedIn51-200 employeesindividual & family services

Prospect flagsLow returnsLow participation

How to read this page

Total assets (EOY)

$7.1M

+2.3% from 2019

Total participants

303

-1.0% from 2019

Average account balance

$54,772

+66.5% from 2019

Annual return

3.72%

-2.83 pp from 2019

Benchmarks

See 5,415 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,415 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.08M

Not enough data

1 years with asset history on file

Average account balance

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

$38K

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.

212

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.

53.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$886K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+10.50%

Not enough data

1 years with return on file

Admin fee / account holder

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

$223

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 5 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.4 years Filed as: MML INVESTORS SERVICES INC. Service code 53	Insurance Commissions	$21,616
MASSACHUSETTS MUTUAL LIFE INS. CO.4 years Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 52 · EIN 04-1590850	Indirect Investment Fees	$13,365
THE RETIREMENT ADVANTAGE INC3 years Filed as: THE RETIREMENT ADVANTAGE, INC. Service code 13 · EIN 39-1816008	Contract Administrator	$2,476
LINCOLN NATIONAL CORPORATION5+ years Service code 13 · EIN 35-1140070	Contract Administrator	$645
MASSACHUSETTS MUTUAL LIFE INS. CO.5+ years Filed as: MML INVESTORS SERVICES INC Service code 53 · EIN 04-2746212	Insurance Commissions	$0

Plan features & details

Pension benefit codes2L2M2E2F2G2J2K3D

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.
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.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$19K

$84 / participant

Contract admin$19K100.0%

% of EOY assets

0.267%

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: ZELENKOFSKE AXELROD LLC
Auditor EIN: 233022325
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$54,772

$58,888-7.0%

$178,499-69.3%

$73,493-25.5%

Participation rate

22.0%

66.2%-44.3pp

81.9%-60.0pp

70.7%-48.7pp

Annual return

3.72%

24.86%-21.1pp

151.10%-147.4pp

28.51%-24.8pp

Employer contribution / active EE

$965

$2,236-56.8%

$5,011-80.7%

$2,270-57.5%

Participant deferral / active EE

$1,106

$2,568-56.9%

$5,202-78.7%

$3,740-70.4%

Admin fee / account holder

$146

$400-63.5%

$13,986-99.0%

$513-71.5%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.4 years

Filed as: MML INVESTORS SERVICES INC.

Service code 53

Insurance Commissions

$21,616

MASSACHUSETTS MUTUAL LIFE INS. CO.4 years

Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$13,365

THE RETIREMENT ADVANTAGE INC3 years

Filed as: THE RETIREMENT ADVANTAGE, INC.

Service code 13 · EIN 39-1816008

Contract Administrator

$2,476

LINCOLN NATIONAL CORPORATION5+ years

Service code 13 · EIN 35-1140070

Contract Administrator

$645

MASSACHUSETTS MUTUAL LIFE INS. CO.5+ years

Filed as: MML INVESTORS SERVICES INC

Service code 53 · EIN 04-2746212

Insurance Commissions

WESTMORELAND COMMUNITY ACTION 403(B)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WESTMORELAND COMMUNITY ACTION 403(B)

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