Retirement plan

MASSCHALLENGE 403(B) PLAN

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

MASSCHALLENGE, INC.EIN 27-0382989Plan #001PY 2022

21 DRYDOCK AVENUE, 610E - BOSTON, MA 02210888-782-7820masschallenge.orgLinkedIn51-200 employeesventure capital & private equity

Prospect flagsHigh feesRecently reached 100 employees

How to read this page

Total assets (EOY)

$2.4M

+2.7% from 2021

Total participants

135

+31.1% from 2021

Average account balance

$18,514

-21.6% from 2021

Annual return

-8.83%

-22.55 pp from 2021

Benchmarks

See 9,364 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort9,364 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.16M

Not enough data

1 years with asset history on file

Average account balance

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

$28K

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.

114

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.

79.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$371K

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

+13.68%

Not enough data

1 years with return on file

Admin fee / account holder

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

$206

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

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 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.)
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$215K

$4387 / participant

Other / not subdivided$215K100.0%

% of EOY assets

9.142%

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

$18,514

$54,357-65.9%

$82,706-77.6%

$68,495-73.0%

Participation rate

83.7%

63.9%+19.7pp

72.6%+11.1pp

67.9%+15.8pp

Annual return

-8.83%

-13.67%+4.8pp

701.76%-710.6pp

-7.84%-1.0pp

Employer contribution / active EE

$2,510

$2,218+13.1%

$3,007-16.5%

$2,596-3.3%

Participant deferral / active EE

$6,898

$3,246+112.5%

$4,394+57.0%

$4,028+71.3%

Admin fee / account holder

$1,693

$4,396-61.5%

$5,329-68.2%

$5,403-68.7%

MASSCHALLENGE 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MASSCHALLENGE 403(B) 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