Retirement plan

WESTMORELAND COUNTY FOOD BANK, INC. RETIREMENT PLAN

Name: WESTMORELAND COUNTY FOOD BANK, INC. - WESTMORELAND COUNTY FOOD BANK, INC. RETIREMENT PLAN (2022) Form 5500
Creator: WESTMORELAND COUNTY FOOD BANK, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WESTMORELAND COUNTY FOOD BANK, INC. RETIREMENT PLAN, WESTMORELAND COUNTY FOOD BANK, INC.

WESTMORELAND COUNTY FOOD BANK, INC.EIN 25-1422682Plan #001PY 2022

100 DEVONSHIRE DRIVE - DELMONT, PA 156261607724-468-8660

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$2.2M

-11.7% from 2021

Total participants

+3.2% from 2021

Average account balance

$68,370

-14.4% from 2021

Annual return

-15.15%

-28.43 pp from 2021

Benchmarks

See 11,552 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants<25

Cohort11,552 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.38M

Not enough data

1 years with asset history on file

Average account balance

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

$102K

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.

150.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$189K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+15.41%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3814

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 codes2E2F2J2T3D

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).
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

$92K

$3991 / participant

Other / not subdivided$92K100.0%

% of EOY assets

4.195%

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

$68,370

$84,551-19.1%

$61,452+11.3%

$134,532-49.2%

Participation rate

100.0%

62.2%+37.8pp

52.6%+47.4pp

81.2%+18.8pp

Annual return

-15.15%

585.39%-600.5pp

338.96%-354.1pp

418.27%-433.4pp

Employer contribution / active EE

$4,354

$1,545+181.8%

$1,160+275.5%

$4,741-8.2%

Participant deferral / active EE

$3,389

$2,818+20.2%

$2,125+59.5%

$6,401-47.1%

Admin fee / account holder

$2,868

$2,587+10.8%

$2,131+34.6%

$11,429-74.9%

WESTMORELAND COUNTY FOOD BANK, INC. RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WESTMORELAND COUNTY FOOD BANK, INC. RETIREMENT 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