Retirement plan

EMPLOYEE BENEFIT PLAN OF BARAGA TELEPHONE COMPANY

Name: BARAGA TELEPHONE COMPANY - EMPLOYEE BENEFIT PLAN OF BARAGA TELEPHONE COMPANY (2022) Form 5500
Creator: BARAGA TELEPHONE COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, EMPLOYEE BENEFIT PLAN OF BARAGA TELEPHONE COMPANY, BARAGA TELEPHONE COMPANY

BARAGA TELEPHONE COMPANYEIN 38-0325700Plan #003PY 2022

204 STATE AVE - BARAGA, MI 499089662906-353-6644baragatelephone.comLinkedIn11-50 employeestelecommunications

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$10.3M

-18.2% from 2021

Total participants

+4.5% from 2021

Average account balance

$222,876

-25.4% from 2021

Annual return

-17.58%

-33.35 pp from 2021

Benchmarks

See 3,132 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants25-99

Cohort3,132 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$15.66M

Not enough data

1 years with asset history on file

Average account balance

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

$340K

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.

135.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$593K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$17K

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

+13.87%

Not enough data

1 years with return on file

Admin fee / account holder

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

$23567

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 codes2F2G2T

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.
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.

Opportunity flags

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$582K

$16620 / participant

Other / not subdivided$582K100.0%

% of EOY assets

5.674%

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

$222,876

$59,116+277.0%

$86,438+157.8%

$68,486+225.4%

Participation rate

100.0%

75.2%+24.8pp

80.3%+19.7pp

67.9%+32.1pp

Annual return

-17.58%

-0.23%-17.4pp

4397.19%-4414.8pp

-7.85%-9.7pp

Employer contribution / active EE

$7,360

$2,519+192.2%

$3,769+95.2%

$2,597+183.4%

Participant deferral / active EE

$6,904

$5,902+17.0%

$6,952-0.7%

$4,028+71.4%

Admin fee / account holder

$12,645

$5,639+124.3%

$6,733+87.8%

$5,404+134.0%

EMPLOYEE BENEFIT PLAN OF BARAGA TELEPHONE COMPANY

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

EMPLOYEE BENEFIT PLAN OF BARAGA TELEPHONE COMPANY

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