Retirement plan

403(B) THRIFT PLAN FOR EMPLOYEES OF NATIONAL LEGAL AID AND DEFENDER ASSOCIATION

Name: NATIONAL LEGAL AID AND DEFENDER ASSOCIATION - 403(B) THRIFT PLAN FOR EMPLOYEES OF NATIONAL LEGAL AID AND DEFENDER ASSOCIATION (2023) Form 5500
Creator: NATIONAL LEGAL AID AND DEFENDER ASSOCIATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 403(B) THRIFT PLAN FOR EMPLOYEES OF NATIONAL LEGAL AID AND DEFENDER ASSOCIATION, NATIONAL LEGAL AID AND DEFENDER ASSOCIATION

NATIONAL LEGAL AID AND DEFENDER ASSOCIATIONEIN 36-2337880Plan #003PY 2023

1901 PENNSYLVANIA AVE NW STE 500 - WASHINGTON, DC 200063406202-452-0620

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$2M

+13.2% from 2022

Total participants

+20.9% from 2022

Average account balance

$45,658

-17.7% from 2022

Annual return

11.49%

+22.46 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

$2.81M

Not enough data

1 years with asset history on file

Average account balance

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

$64K

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.

122.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$245K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+30.55%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1336

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 codes2F2G2L2T3D

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.
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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$232K

$6439 / participant

Other / not subdivided$232K100.0%

% of EOY assets

11.539%

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

$45,658

$57,330-20.4%

$86,656-47.3%

$75,177-39.3%

Participation rate

77.8%

63.2%+14.6pp

71.7%+6.1pp

67.2%+10.6pp

Annual return

11.49%

2675.40%-2663.9pp

593.09%-581.6pp

160.75%-149.3pp

Employer contribution / active EE

$2,273

$2,316-1.9%

$3,025-24.9%

$2,671-14.9%

Participant deferral / active EE

$5,011

$3,320+50.9%

$4,439+12.9%

$4,126+21.4%

Admin fee / account holder

$5,268

$4,115+28.0%

$5,619-6.2%

$5,651-6.8%

403(B) THRIFT PLAN FOR EMPLOYEES OF NATIONAL LEGAL AID AND DEFENDER ASSOCIATION

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

403(B) THRIFT PLAN FOR EMPLOYEES OF NATIONAL LEGAL AID AND DEFENDER ASSOCIATION

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