Retirement plan

I.T.C. 401(K) PLAN

Name: INTER-TRIBAL COUNCIL OF MICHIGAN, INC. - I.T.C. 401(K) PLAN (2020) Form 5500
Creator: INTER-TRIBAL COUNCIL OF MICHIGAN, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, I.T.C. 401(K) PLAN, INTER-TRIBAL COUNCIL OF MICHIGAN, INC.

INTER-TRIBAL COUNCIL OF MICHIGAN, INC.EIN 38-1893519Plan #001PY 2020

2956 ASHMUN ST., STE. A - SAULT STE. MARIE, MI 49783906-632-6896itcmi.orgLinkedIn51-200 employeescivic & social organization

Prospect flagsLow returnsLow fidelity bond

How to read this page

Total assets (EOY)

$5.1M

+21.5% from 2019

Total participants

136

+12.4% from 2019

Average account balance

$38,834

+12.2% from 2019

Annual return

7.63%

+5.51 pp from 2019

Benchmarks

See 1,687 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants100-249

Cohort1,687 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.58M

Not enough data

1 years with asset history on file

Average account balance

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

$55K

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.

139

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$636K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+25.97%

Not enough data

1 years with return on file

Admin fee / account holder

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

$479

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 3 by compensation

Provider	Service type	Compensation
AMERICAN FUNDS2 years Filed as: CAPITAL ASSET ADVISORY SERVICES LLC Service code 50 · EIN 38-3470125	Direct Payment	$35,072
NATIONWIDE5+ years Service code 15 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215	Recordkeeping	$16,676
THE RETIREMENT ADVANTAGE INC4 years Filed as: THE RETIREMENT ADVANTAGE, INC. Service code 50 · EIN 39-1816008	Direct Payment	$7,245

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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.
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

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

$38K

$333 / participant

Contract admin$38K100.0%

% of EOY assets

0.741%

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: ANDERSON TACKMAN & COMPANY FACILITY
Auditor EIN: 381977929
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$38,834

$66,124-41.3%

$90,440-57.1%

$73,493-47.2%

Participation rate

95.6%

69.7%+25.9pp

72.7%+22.9pp

70.7%+24.9pp

Annual return

7.63%

17.65%-10.0pp

1294.38%-1286.8pp

28.51%-20.9pp

Employer contribution / active EE

$5,736

$2,346+144.5%

$3,263+75.8%

$2,270+152.7%

Participant deferral / active EE

$2,524

$3,039-16.9%

$3,964-36.3%

$3,740-32.5%

Admin fee / account holder

$288

$396-27.4%

$5,615-94.9%

$513-43.9%

Provider

Service type

Compensation

AMERICAN FUNDS2 years

Filed as: CAPITAL ASSET ADVISORY SERVICES LLC

Service code 50 · EIN 38-3470125

Direct Payment

$35,072

NATIONWIDE5+ years

Service code 15

ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215

Recordkeeping

$16,676

THE RETIREMENT ADVANTAGE INC4 years

Filed as: THE RETIREMENT ADVANTAGE, INC.

Service code 50 · EIN 39-1816008

Direct Payment

$7,245

I.T.C. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

I.T.C. 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