Retirement plan

KEWEENAW BAY INDIAN COMMUNITY 401(K) PLAN

Name: KEWEENAW BAY INDIAN COMMUNITY - KEWEENAW BAY INDIAN COMMUNITY 401(K) PLAN (2020) Form 5500
Creator: KEWEENAW BAY INDIAN COMMUNITY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, KEWEENAW BAY INDIAN COMMUNITY 401(K) PLAN, KEWEENAW BAY INDIAN COMMUNITY

KEWEENAW BAY INDIAN COMMUNITYEIN 38-1743340Plan #003PY 2020

16429 BEARTOWN ROAD - BARAGA, MI 49908906-353-6623kbic-nsn.govLinkedIn501-1000 employees

Other plans on this EIN

1 filing

#002Retirement-$37.7M assets

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$28.1M

-4.2% from 2019

Total participants

527

-0.9% from 2019

Average account balance

$55,721

-2.9% from 2019

Annual return

10.34%

-5.27 pp from 2019

Benchmarks

See 374 peers

Peer group

Industry71 - Arts, Entertainment, and Recreation

Plan typeDefined contribution

Participants250-999

Cohort374 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$31.63M

Not enough data

1 years with asset history on file

Average account balance

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

$59K

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.

535

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.

63.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.33M

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

+8.91%

Not enough data

1 years with return on file

Admin fee / account holder

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

$292

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 10 of 14 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years Service code 52 · EIN 04-1590850	Indirect Investment Fees	$129,425
GLOBAL RETIREMENT PARTNERS LLC3 years Service code 27 · EIN 47-1411118	Advisory (Plan)	$67,067
AMERICAN FUNDS2 years Service code 52 · EIN 95-2817150	Indirect Investment Fees	$0
BLACKROCK2 years Service code 52 · EIN 51-0318674	Indirect Investment Fees	$0
FIDELITY INVESTMENTS INSTITUTIONAL2 years Filed as: FIDELITY INVESTMENTS Service code 52 · EIN 04-3365630	Indirect Investment Fees	$0
FIRST EAGLE2 years Service code 52 · EIN 13-3392291	Indirect Investment Fees	$0
INVESCO4 years Service code 52 · EIN 93-6305075	Indirect Investment Fees	$0
JANUS HENDERSON2 years Service code 52 · EIN 84-0592523	Indirect Investment Fees	$0
LEGG MASON2 years Service code 52 · EIN 95-2705767	Indirect Investment Fees	$0
MFS INVESTMENT MANAGEMENT4 years Service code 52 · EIN 04-3158862	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2J2F2G2K3D2T

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

$196K

$465 / participant

Investment mgmt$188K95.5%
Contract admin$9K4.5%

% of EOY assets

0.700%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$55,721

$54,121+3.0%

$134,162-58.5%

$73,412-24.1%

Participation rate

94.6%

64.4%+30.2pp

72.2%+22.4pp

Annual return

10.34%

-312.52%+322.9pp

36.35%-26.0pp

59.30%-49.0pp

Employer contribution / active EE

$1,799

$1,402+28.3%

$3,705-51.4%

$2,234-19.5%

Participant deferral / active EE

$2,273

$2,844-20.1%

$3,500-35.1%

$3,806-40.3%

Admin fee / account holder

$390

$132+194.6%

$6,685-94.2%

$158+146.9%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$129,425

GLOBAL RETIREMENT PARTNERS LLC3 years

Service code 27 · EIN 47-1411118

Advisory (Plan)

$67,067

AMERICAN FUNDS2 years

Service code 52 · EIN 95-2817150

Indirect Investment Fees

BLACKROCK2 years

Service code 52 · EIN 51-0318674

Indirect Investment Fees

FIDELITY INVESTMENTS INSTITUTIONAL2 years

Filed as: FIDELITY INVESTMENTS

Service code 52 · EIN 04-3365630

Indirect Investment Fees

FIRST EAGLE2 years

Service code 52 · EIN 13-3392291

Indirect Investment Fees

INVESCO4 years

Service code 52 · EIN 93-6305075

Indirect Investment Fees

JANUS HENDERSON2 years

Service code 52 · EIN 84-0592523

Indirect Investment Fees

LEGG MASON2 years

Service code 52 · EIN 95-2705767

Indirect Investment Fees

MFS INVESTMENT MANAGEMENT4 years

Service code 52 · EIN 04-3158862

Indirect Investment Fees

KEWEENAW BAY INDIAN COMMUNITY 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

KEWEENAW BAY INDIAN COMMUNITY 401(K) 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