Retirement plan

THE ARC OF MICHIGAN 403(B) TAX DEFERRED ANNUITY PLAN

Name: THE ARC OF MICHIGAN, INC. - THE ARC OF MICHIGAN 403(B) TAX DEFERRED ANNUITY PLAN (2020) Form 5500
Creator: THE ARC OF MICHIGAN, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE ARC OF MICHIGAN 403(B) TAX DEFERRED ANNUITY PLAN, THE ARC OF MICHIGAN, INC.

THE ARC OF MICHIGAN, INC.EIN 38-1536920Plan #001PY 2020

1325 SOUTH WASHINGTON AVENUE - LANSING, MI 489101652517-487-5426arcmi.orgLinkedIn11-50 employeesnon-profit organization management

Prospect flagsHigh feesLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$2.6M

+24.1% from 2019

Total participants

+2.1% from 2019

Average account balance

$90,237

+19.8% from 2019

Annual return

20.07%

-2.34 pp from 2019

Benchmarks

See 18,636 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort18,636 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.02M

Not enough data

1 years with asset history on file

Average account balance

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

$115K

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.

72.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$176K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+13.84%

Not enough data

1 years with return on file

Admin fee / account holder

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

$839

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 codes2F2G2L2M2T3D

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.
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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$53K

$1398 / participant

Other / not subdivided$53K100.0%

% of EOY assets

2.030%

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

$90,237

$91,167-1.0%

$178,498-49.4%

$79,858+13.0%

Participation rate

47.4%

69.2%-21.8pp

81.9%-34.6pp

69.6%-22.3pp

Annual return

20.07%

24.19%-4.1pp

151.09%-131.0pp

31.72%-11.6pp

Employer contribution / active EE

$1,127

$3,255-65.4%

$5,011-77.5%

$2,471-54.4%

Participant deferral / active EE

$2,504

$3,236-22.6%

$5,202-51.9%

$3,740-33.0%

Admin fee / account holder

$1,832

$6,747-72.9%

$13,985-86.9%

$5,306-65.5%

THE ARC OF MICHIGAN 403(B) TAX DEFERRED ANNUITY PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE ARC OF MICHIGAN 403(B) TAX DEFERRED ANNUITY 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