Retirement plan

UNITED WAY OF GREATER CLEVELAND 403(B) RETIREMENT PLAN

Name: UNITED WAY OF GREATER CLEVELAND - UNITED WAY OF GREATER CLEVELAND 403(B) RETIREMENT PLAN (2020) Form 5500
Creator: UNITED WAY OF GREATER CLEVELAND
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, UNITED WAY OF GREATER CLEVELAND 403(B) RETIREMENT PLAN, UNITED WAY OF GREATER CLEVELAND

UNITED WAY OF GREATER CLEVELANDEIN 34-6516654Plan #003PY 2020

1331 EUCLID AVE. - CLEVELAND, OH 441151819216-436-2100unitedwaycleveland.orgLinkedIn51-200 employeesnon-profit organization management

Other plans on this EIN

1 filing

#002Retirement-$9.5M assets

Prospect flagsNo flags tripped

Top hat statement on fileNQDC

Filed October 26, 2023

Plan administrator

Plan administrator name— Sign in and upgrade to view

1331 Euclid Avenue

Cleveland, OH 44115

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Plans declared (1)

United Way 457b Plan1 emp

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Total assets (EOY)

$6.9M

+15.3% from 2019

Total participants

160

-13.5% from 2019

Average account balance

$47,018

+21.6% from 2019

Annual return

12.95%

-9.52 pp from 2019

Benchmarks

See 1,687 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants100-249

Cohort1,687 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.44M

Not enough data

1 years with asset history on file

Average account balance

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

$51K

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.

145

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.

85.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$784K

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

+14.41%

Not enough data

1 years with return on file

Admin fee / account holder

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

$293

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

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
GLOBAL RETIREMENT PARTNERS LLC1 year Service code 27 · EIN 47-1411118	Advisory (Plan)	$17,346
MASSACHUSETTS MUTUAL LIFE INS. CO.2 years Filed as: MASSACHUSETTS MUTUAL LIFE INS Service code 52 · EIN 04-1590850	Indirect Investment Fees	$5,962
CBIZ RETIREMENT PLAN SERVICES2 years Service code 13 · EIN 31-1582098	Contract Administrator	$3,136

Plan features & details

Pension benefit codes2A2G2L3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$6K

$54 / participant

Contract admin$6K100.0%

% of EOY assets

0.086%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BDO USA, LLP
Auditor EIN: 135381590
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$47,018

$66,124-28.9%

$90,461-48.0%

$73,497-36.0%

Participation rate

88.3%

69.7%+18.6pp

72.7%+15.6pp

70.7%+17.6pp

Annual return

12.95%

17.65%-4.7pp

1294.76%-1281.8pp

28.51%-15.6pp

Employer contribution / active EE

$3,241

$2,346+38.1%

$3,264-0.7%

$2,270+42.8%

Participant deferral / active EE

$3,394

$3,039+11.7%

$3,964-14.4%

$3,740-9.2%

Admin fee / account holder

$41

$396-89.8%

$5,617-99.3%

$513-92.1%

Provider

Service type

Compensation

GLOBAL RETIREMENT PARTNERS LLC1 year

Service code 27 · EIN 47-1411118

Advisory (Plan)

$17,346

MASSACHUSETTS MUTUAL LIFE INS. CO.2 years

Filed as: MASSACHUSETTS MUTUAL LIFE INS

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$5,962

CBIZ RETIREMENT PLAN SERVICES2 years

Service code 13 · EIN 31-1582098

Contract Administrator

$3,136

UNITED WAY OF GREATER CLEVELAND 403(B) RETIREMENT PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

UNITED WAY OF GREATER CLEVELAND 403(B) RETIREMENT PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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