Retirement plan

C-L-M COMMUNITY ACTION 403(B) RETIREMENT PLAN

Name: CHIPPEWA LUCE MACKINAC COMMUNITY ACTION HUMAN RESOURCE AUTHORITY, INC. - C-L-M COMMUNITY ACTION 403(B) RETIREMENT PLAN (2019) Form 5500
Creator: CHIPPEWA LUCE MACKINAC COMMUNITY ACTION HUMAN RESOURCE AUTHORITY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, C-L-M COMMUNITY ACTION 403(B) RETIREMENT PLAN, CHIPPEWA LUCE MACKINAC COMMUNITY ACTION HUMAN RESOURCE AUTHORITY, INC.

CHIPPEWA LUCE MACKINAC COMMUNITY ACTION HUMAN RESOURCE AUTHORITY, INC.EIN 38-1798626Plan #002PY 2019

524 ASHMUN STREET - SAULT ST. MARIE, MI 49783906-632-3363LinkedIn201-500 employeeshospital & health care

Prospect flagsLow returnsHigh feesLow participationRecently reached 100 employees

How to read this page

Total assets (EOY)

$7.9M

+14.6% from 2018

Total participants

264

+17.3% from 2018

Average account balance

$44,886

No prior year

Annual return

15.09%

+19.18 pp from 2018

Benchmarks

See 5,342 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,342 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.87M

Not enough data

1 years with asset history on file

Average account balance

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

$36K

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.

189

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.

63.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$681K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+8.87%

Not enough data

1 years with return on file

Admin fee / account holder

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

$323

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

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

Service providers

Top 6 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$26,101
CHIPPEWA LUCE MACKINAC COMMUNITY1 year Service code 99 524 ASHMUN ST · SAULT STE MARIE, MI 49786	Other Fees	$21,099
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: ADVISED ASSETS GROUP Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$19,597
LPL FINANCIAL3 years Service code 27 4707 EXECUTIVE DRIVE · SAN DIEGO, CA 92121	Advisory (Plan)	$14,475
MAP RETIREMENT, INC.2 years Filed as: MAP RETIREMENT Service code 13 W6180 AEROTECH DRIVE · APPLETON, WI 54914	Contract Administrator	$7,390
METLIFE LIFE INSURANCE COMPANY4 years Service code 64 11225 NORTH COMMUNITY HOUSE ROAD · CHARLOTTE, NC 28277	Recordkeeping Fees	$924

Plan features & details

Pension benefit codes2F2G2L

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.

Opportunity flags

4 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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$77K

$325 / participant

Contract admin$77K100.0%

% of EOY assets

0.975%

all-in expense ratio

Categories reported

1 / 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: REHMANN ROBSON LLC
Auditor EIN: 383635706
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$44,886

$52,961-15.2%

$172,752-74.0%

$65,185-31.1%

Participation rate

63.4%

66.2%-2.8pp

82.6%-19.2pp

70.2%-6.8pp

Annual return

15.09%

30.12%-15.0pp

802.97%-787.9pp

29.38%-14.3pp

Employer contribution / active EE

$957

$2,190-56.3%

$5,144-81.4%

$2,177-56.0%

Participant deferral / active EE

$1,183

$2,471-52.1%

$5,198-77.2%

$3,514-66.3%

Admin fee / account holder

$437

$472-7.3%

$13,955-96.9%

$847-48.4%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$26,101

CHIPPEWA LUCE MACKINAC COMMUNITY1 year

Service code 99

524 ASHMUN ST · SAULT STE MARIE, MI 49786

Other Fees

$21,099

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: ADVISED ASSETS GROUP

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$19,597

LPL FINANCIAL3 years

Service code 27

4707 EXECUTIVE DRIVE · SAN DIEGO, CA 92121

Advisory (Plan)

$14,475

MAP RETIREMENT, INC.2 years

Filed as: MAP RETIREMENT

Service code 13

W6180 AEROTECH DRIVE · APPLETON, WI 54914

Contract Administrator

$7,390

METLIFE LIFE INSURANCE COMPANY4 years

Service code 64

11225 NORTH COMMUNITY HOUSE ROAD · CHARLOTTE, NC 28277

Recordkeeping Fees

$924

C-L-M COMMUNITY ACTION 403(B) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

C-L-M COMMUNITY ACTION 403(B) RETIREMENT 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