Retirement plan

SAVINGS PLAN FOR MINNESOTA REPRESENTED HOURLY EMPLOYEES

Name: HIBBING JOINT VENTURE CLIFFS MINING CO, MANAGING AGENT - SAVINGS PLAN FOR MINNESOTA REPRESENTED HOURLY EMPLOYEES (2020) Form 5500
Creator: HIBBING JOINT VENTURE CLIFFS MINING CO, MANAGING AGENT
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SAVINGS PLAN FOR MINNESOTA REPRESENTED HOURLY EMPLOYEES, HIBBING JOINT VENTURE CLIFFS MINING CO, MANAGING AGENT

HIBBING JOINT VENTURE CLIFFS MINING CO, MANAGING AGENTEIN 34-1120353Plan #018PY 2020

200 PUBLIC SQUARE, SUITE 3300 - CLEVELAND, OH 441142315216-694-5505

Other plans on this EIN

1 filing

#002Retirement-$1.3M assets

Prospect flagsLow employer contribution

How to read this page

Total assets (EOY)

$42.9M

+12.1% from 2019

Total participants

561

-6.0% from 2019

Average account balance

$92,381

+7.3% from 2019

Annual return

19.56%

+60.14 pp from 2019

Benchmarks

See 180 peers

Peer group

Industry21 - Mining, Quarrying, and Oil and Gas Extraction

Plan typeDefined contribution

Participants250-999

Cohort180 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$52.12M

Not enough data

1 years with asset history on file

Average account balance

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

$102K

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.

513

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.

84.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.06M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+16.98%

Not enough data

1 years with return on file

Admin fee / account holder

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

$30

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 3 by compensation

Provider	Service type	Compensation
MEADEN & MOORE, LTD.6+ years Service code 10 · EIN 34-1818258	Accounting	$11,100
HARTLAND & CO6+ years Service code 27 · EIN 34-1597728	Advisory (Plan)	$8,446
FIDELITY INVESTMENTS INSTITUTIONAL6+ years Filed as: FIDELITY INV INST OPERATIONS CO Service code 37 · EIN 04-2647786	Loan Processing	$0

Plan features & details

Pension benefit codes2E2G2J3H

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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

1 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$20K

$41 / participant

Other / not subdivided$20K100.0%

% of EOY assets

0.046%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MEADEN & MOORE, LTD
Auditor EIN: 341818258
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$92,381

$94,621-2.4%

$138,135-33.1%

$73,412+25.8%

Participation rate

79.4%

83.4%-4.0pp

78.7%+0.7pp

72.2%+7.3pp

Annual return

19.56%

16.57%+3.0pp

20.51%-1.0pp

59.30%-39.7pp

Employer contribution / active EE

$423

$4,410-90.4%

$5,587-92.4%

$2,234-81.1%

Participant deferral / active EE

$4,284

$6,199-30.9%

$6,431-33.4%

$3,806+12.6%

Admin fee / account holder

$42

$140-70.0%

$11,856-99.6%

$158-73.3%

Provider

Service type

Compensation

MEADEN & MOORE, LTD.6+ years

Service code 10 · EIN 34-1818258

Accounting

$11,100

HARTLAND & CO6+ years

Service code 27 · EIN 34-1597728

Advisory (Plan)

$8,446

FIDELITY INVESTMENTS INSTITUTIONAL6+ years

Filed as: FIDELITY INV INST OPERATIONS CO

Service code 37 · EIN 04-2647786

Loan Processing

SAVINGS PLAN FOR MINNESOTA REPRESENTED HOURLY EMPLOYEES

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SAVINGS PLAN FOR MINNESOTA REPRESENTED HOURLY EMPLOYEES

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