Retirement plan

GOVERNORS ISLAND CORPORATION 403(B) PLAN

Name: GOVERNORS ISLAND CORPORATION - GOVERNORS ISLAND CORPORATION 403(B) PLAN (2023) Form 5500
Creator: GOVERNORS ISLAND CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GOVERNORS ISLAND CORPORATION 403(B) PLAN, GOVERNORS ISLAND CORPORATION

GOVERNORS ISLAND CORPORATIONEIN 27-2683349Plan #003PY 2023

10 SOUTH STREET, BATTERY MARITIME BUILDING, SLIP 7 - NEW YORK, NY 10004212-440-2227LinkedIn11-50 employeesnon-profit organization management

Other plans on this EIN

1 filing

#004Retirement-$133K assets

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$3.3M

+61.6% from 2022

Total participants

+8.2% from 2022

Average account balance

$50,340

+49.4% from 2022

Annual return

22.86%

+41.99 pp from 2022

Benchmarks

See 9,806 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort9,806 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.73M

Not enough data

1 years with asset history on file

Average account balance

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

$67K

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.

151.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.01M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$18K

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

+18.28%

Not enough data

1 years with return on file

Admin fee / account holder

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

$8211

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 codes2E2G2L2M2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$42K

$787 / participant

Other / not subdivided$42K100.0%

% of EOY assets

1.255%

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

$50,340

$57,330-12.2%

$86,656-41.9%

$75,177-33.0%

Participation rate

100.0%

63.2%+36.8pp

71.7%+28.3pp

67.2%+32.8pp

Annual return

22.86%

2675.40%-2652.5pp

593.09%-570.2pp

160.75%-137.9pp

Employer contribution / active EE

$8,657

$2,316+273.7%

$3,025+186.1%

$2,671+224.1%

Participant deferral / active EE

$7,003

$3,320+110.9%

$4,439+57.8%

$4,126+69.7%

Admin fee / account holder

$632

$4,115-84.6%

$5,619-88.8%

$5,651-88.8%

GOVERNORS ISLAND CORPORATION 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GOVERNORS ISLAND CORPORATION 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