Retirement plan

NEW SALEM BAPTIST CHURCH TAX-DEFERRED PLAN

Name: NEW SALEM BAPTIST CHURCH - NEW SALEM BAPTIST CHURCH TAX-DEFERRED PLAN (2023) Form 5500
Creator: NEW SALEM BAPTIST CHURCH
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NEW SALEM BAPTIST CHURCH TAX-DEFERRED PLAN, NEW SALEM BAPTIST CHURCH

NEW SALEM BAPTIST CHURCHEIN 31-0865997Plan #001PY 2023

2956 CLEVELAND AVENUE - COLUMBUS, OH 43224614-267-2536

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.6M

+8.1% from 2022

Total participants

-7.7% from 2022

Average account balance

$71,146

+13.1% from 2022

Annual return

12.16%

+29.23 pp from 2022

Benchmarks

See 41,808 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort41,808 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.87M

Not enough data

1 years with asset history on file

Average account balance

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

$89K

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.

116.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$136K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+12.32%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1558

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 codes2M3D2G2F2T

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.
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

$216K

$11982 / participant

Other / not subdivided$216K100.0%

% of EOY assets

13.779%

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

$71,146

$96,678-26.4%

$86,640-17.9%

$139,466-49.0%

Participation rate

88.9%

74.4%+14.5pp

71.7%+17.2pp

80.3%+8.6pp

Annual return

12.16%

106.69%-94.5pp

592.52%-580.4pp

373.66%-361.5pp

Employer contribution / active EE

$4,149

$3,265+27.0%

$3,024+37.2%

$4,754-12.7%

Participant deferral / active EE

$3,494

$4,837-27.8%

$4,438-21.3%

$6,712-47.9%

Admin fee / account holder

$9,803

$6,410+52.9%

$5,616+74.6%

$11,409-14.1%

NEW SALEM BAPTIST CHURCH TAX-DEFERRED PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NEW SALEM BAPTIST CHURCH TAX-DEFERRED 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