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 (2021) 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 2021

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

Prospect flagsLow returnsHigh feesLow participation

How to read this page

Total assets (EOY)

$8.7M

+7.6% from 2020

Total participants

304

+16.5% from 2020

Average account balance

$39,300

-11.3% from 2020

Annual return

9.60%

+1.60 pp from 2020

Benchmarks

See 5,351 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,351 peers

Snapshot2021

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

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Service providers

Top 6 by compensation

Provider	Service type	Compensation
KERBERROSE WEALTH MANAGEMENT1 year Filed as: KERBERROSE WEALTH MANAGEMENT LLC Service code 27 115 E 5TH ST · SHAWANO, WI 54166	Advisory (Plan)	$33,351
CHIPPEWA LUCE MACKINAC COMMUNITY3 years Service code 99 524 ASHMUN ST · SAULT STE MARIE, MI 49783	Other Fees	$25,500
GREAT-WEST LIFE & ANNUITY INSURANCE5 years Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$25,437
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: ADVISED ASSETS GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$19,219
MAP RETIREMENT, INC.4 years Filed as: MAP RETIREMENT Service code 13	Contract Administrator	$6,670
MAP RETIREMENT, INC.1 year Filed as: MAP RETIREMENT INC Service code 13 W6180 AEROTECH DR · APPLETON, WI 54914	Contract Administrator	$1,762

Plan features & details

Pension benefit codes2F2G2L2E2K2T3D2J

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.
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

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

Expense breakdown

Schedule H Part II

Admin total

$106K

$503 / participant

Contract admin$106K100.0%

% of EOY assets

1.210%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: REHMANN ROBSON LLC
Auditor EIN: 383635706
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$39,300

$61,166-35.7%

$185,837-78.9%

$79,393-50.5%

Participation rate

61.0%

66.6%-5.7pp

81.7%-20.8pp

70.7%-9.8pp

Annual return

9.60%

19.45%-9.8pp

122.08%-112.5pp

116.87%-107.3pp

Employer contribution / active EE

$1,258

$2,321-45.8%

$5,168-75.7%

$2,428-48.2%

Participant deferral / active EE

$1,419

$2,789-49.1%

$5,568-74.5%

$4,046-64.9%

Admin fee / account holder

$476

$710-33.0%

$16,241-97.1%

$627-24.1%

Provider

Service type

Compensation

KERBERROSE WEALTH MANAGEMENT1 year

Filed as: KERBERROSE WEALTH MANAGEMENT LLC

Service code 27

115 E 5TH ST · SHAWANO, WI 54166

Advisory (Plan)

$33,351

CHIPPEWA LUCE MACKINAC COMMUNITY3 years

Service code 99

524 ASHMUN ST · SAULT STE MARIE, MI 49783

Other Fees

$25,500

GREAT-WEST LIFE & ANNUITY INSURANCE5 years

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$25,437

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: ADVISED ASSETS GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$19,219

MAP RETIREMENT, INC.4 years

Filed as: MAP RETIREMENT

Service code 13

Contract Administrator

$6,670

MAP RETIREMENT, INC.1 year

Filed as: MAP RETIREMENT INC

Service code 13

W6180 AEROTECH DR · APPLETON, WI 54914

Contract Administrator

$1,762

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