Retirement plan

I.T.C. 401(K) PLAN

Name: INTER-TRIBAL COUNCIL OF MICHIGAN, INC. - I.T.C. 401(K) PLAN (2022) 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 2022

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

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$6M

-10.6% from 2021

Total participants

126

-1.6% from 2021

Average account balance

$47,622

-9.2% from 2021

Annual return

-19.46%

-39.85 pp from 2021

Benchmarks

See 9,364 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort9,364 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.38M

Not enough data

1 years with asset history on file

Average account balance

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

$63K

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.

134

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

$593K

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

+12.19%

Not enough data

1 years with return on file

Admin fee / account holder

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

$549

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 2 by compensation

Provider	Service type	Compensation
AMERICAN FUNDS4 years Filed as: CAPITAL ASSET ADVISORY SERVICES LLC Service code 27 · EIN 38-3470125	Advisory (Plan)	$47,300
STANCORP FINANCIAL GROUP2 years Service code 12 · EIN 93-1253576	Recordkeeping and information managem...	$28,857

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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$76K

$802 / participant

Contract admin$76K100.0%

% of EOY assets

1.269%

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$47,622

$54,357-12.4%

$82,706-42.4%

$68,495-30.5%

Participation rate

100.0%

63.9%+36.1pp

72.6%+27.4pp

67.9%+32.1pp

Annual return

-19.46%

-13.67%-5.8pp

701.76%-721.2pp

-7.84%-11.6pp

Employer contribution / active EE

$7,155

$2,218+222.5%

$3,007+137.9%

$2,596+175.6%

Participant deferral / active EE

$3,333

$3,246+2.7%

$4,394-24.1%

$4,028-17.2%

Admin fee / account holder

$604

$4,396-86.3%

$5,329-88.7%

$5,403-88.8%

Provider

Service type

Compensation

AMERICAN FUNDS4 years

Filed as: CAPITAL ASSET ADVISORY SERVICES LLC

Service code 27 · EIN 38-3470125

Advisory (Plan)

$47,300

STANCORP FINANCIAL GROUP2 years

Service code 12 · EIN 93-1253576

Recordkeeping and information managem...

$28,857

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