Retirement plan

GREATER ERIE COMMUNITY ACTION COMMITTEE TAX DEFERRED ANNUITY PROGRAM

Name: GREATER ERIE COMMUNITY ACTION COMMITTEE - GREATER ERIE COMMUNITY ACTION COMMITTEE TAX DEFERRED ANNUITY PROGRAM (2020) Form 5500
Creator: GREATER ERIE COMMUNITY ACTION COMMITTEE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GREATER ERIE COMMUNITY ACTION COMMITTEE TAX DEFERRED ANNUITY PROGRAM, GREATER ERIE COMMUNITY ACTION COMMITTEE

GREATER ERIE COMMUNITY ACTION COMMITTEEEIN 25-6068246Plan #001PY 2020

18 W 9TH ST - ERIE, PA 165011343814-459-4581gecac.orgLinkedIn51-200 employeesindividual & family services

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$13.9M

-3.6% from 2019

Total participants

283

-13.5% from 2019

Average account balance

$53,841

+10.5% from 2019

Annual return

9.40%

+5.87 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

$11.33M

Not enough data

1 years with asset history on file

Average account balance

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

$56K

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.

202

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.

65.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$502K

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

+8.87%

Not enough data

1 years with return on file

Admin fee / account holder

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

$486

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 1 by compensation

Provider	Service type	Compensation
LINCOLN NATIONAL CORPORATION2 years Service code 13 · EIN 35-1140070	Contract Administrator	$102,517

Plan features & details

Pension benefit codes2F2G2L2M2T3D

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.
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.
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

2 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.

Expense breakdown

Schedule H Part II

Admin total

$103K

$833 / participant

Contract admin$103K100.0%

% of EOY assets

0.735%

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: ROOT, SPITZNAS & SMILEY, INC.
Auditor EIN: 251381610
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$53,841

$58,888-8.6%

$178,498-69.8%

$73,493-26.7%

Participation rate

80.5%

66.2%+14.3pp

81.9%-1.4pp

70.7%+9.8pp

Annual return

9.40%

24.86%-15.5pp

151.09%-141.7pp

28.51%-19.1pp

Employer contribution / active EE

$1,627

$2,236-27.3%

$5,011-67.5%

$2,270-28.3%

Participant deferral / active EE

$2,022

$2,568-21.2%

$5,202-61.1%

$3,740-45.9%

Admin fee / account holder

$396

$400-1.1%

$13,985-97.2%

$513-22.9%

Provider

Service type

Compensation

LINCOLN NATIONAL CORPORATION2 years

Service code 13 · EIN 35-1140070

Contract Administrator

$102,517

GREATER ERIE COMMUNITY ACTION COMMITTEE TAX DEFERRED ANNUITY PROGRAM

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GREATER ERIE COMMUNITY ACTION COMMITTEE TAX DEFERRED ANNUITY PROGRAM

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