Retirement plan

MUNICIPAL AUTHORITY OF WESTMORELAND COUNTY 401(K) PLAN

Name: MUNICIPAL AUTHORITY OF WESTMORELAND - MUNICIPAL AUTHORITY OF WESTMORELAND COUNTY 401(K) PLAN (2023) Form 5500
Creator: MUNICIPAL AUTHORITY OF WESTMORELAND
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MUNICIPAL AUTHORITY OF WESTMORELAND COUNTY 401(K) PLAN, MUNICIPAL AUTHORITY OF WESTMORELAND

MUNICIPAL AUTHORITY OF WESTMORELANDEIN 25-6003829Plan #001PY 2023

PO BOX 730 - GREENSBURG, PA 15601724-755-5800mawc.orgLinkedIn201-500 employeesutilities

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$13.2M

+42.3% from 2022

Total participants

224

+13.1% from 2022

Average account balance

$60,036

+27.4% from 2022

Annual return

17.09%

+29.82 pp from 2022

Benchmarks

See 33 peers

Peer group

Industry92 - Public Administration

Plan typeDefined contribution

Participants100-249

Cohort33 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$17.19M

Not enough data

1 years with asset history on file

Average account balance

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

$74K

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.

231

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.65M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+10.68%

Not enough data

1 years with return on file

Admin fee / account holder

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

$333

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 2 by compensation

Provider	Service type	Compensation
LPL FINANCIAL3 years Filed as: LPL FINANCIAL CORPORATION RPCP Service code 27 · EIN 04-3046611	Advisory (Plan)	$34,288
STANCORP FINANCIAL GROUP3 years Service code 12 · EIN 93-1253576	Direct payment from the plan; Custodi...	$20,818

Plan features & details

Pension benefit codes2E2F2G2J2S2T3D

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$55K

$256 / participant

Investment mgmt$34K62.2%
Contract admin$21K37.8%

% of EOY assets

0.417%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: DELUZIO & CO
Auditor EIN: 453941203
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$60,036

$53,063+13.1%

$70,161-14.4%

$71,495-16.0%

Participation rate

98.1%

62.1%+36.0pp

78.8%+19.3pp

67.9%+30.2pp

Annual return

17.09%

19.46%-2.4pp

19.08%-2.0pp

28.85%-11.8pp

Employer contribution / active EE

$4,399

$3,011+46.1%

$4,285+2.7%

$2,589+69.9%

Participant deferral / active EE

$6,490

$3,291+97.2%

$5,394+20.3%

$4,291+51.2%

Admin fee / account holder

$250

$1,068-76.5%

$4,581-94.5%

$1,588-84.2%

Provider

Service type

Compensation

LPL FINANCIAL3 years

Filed as: LPL FINANCIAL CORPORATION RPCP

Service code 27 · EIN 04-3046611

Advisory (Plan)

$34,288

STANCORP FINANCIAL GROUP3 years

Service code 12 · EIN 93-1253576

Direct payment from the plan; Custodi...

$20,818

MUNICIPAL AUTHORITY OF WESTMORELAND COUNTY 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MUNICIPAL AUTHORITY OF WESTMORELAND COUNTY 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