Retirement plan

403(B) THRIFT PLAN OF MICHIGAN COMMUNITY ACTION AGENCY ASSOC.

Name: MICHIGAN COMMUNITY ACTION AGENCY ASSOC. - 403(B) THRIFT PLAN OF MICHIGAN COMMUNITY ACTION AGENCY ASSOC. (2022) Form 5500
Creator: MICHIGAN COMMUNITY ACTION AGENCY ASSOC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 403(B) THRIFT PLAN OF MICHIGAN COMMUNITY ACTION AGENCY ASSOC., MICHIGAN COMMUNITY ACTION AGENCY ASSOC.

MICHIGAN COMMUNITY ACTION AGENCY ASSOC.EIN 38-2292435Plan #002PY 2022

2173 COMMONS PKWY - OKEMOS, MI 488643987517-321-7500micommunityaction.orgLinkedIn1-10 employeescivic & social organization

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$817K

-11.4% from 2021

Total participants

+9.1% from 2021

Average account balance

$68,054

-18.8% from 2021

Annual return

-17.60%

-31.92 pp from 2021

Benchmarks

See 105,930 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort105,930 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.05M

Not enough data

1 years with asset history on file

Average account balance

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

$75K

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.

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.

233.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$65K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+11.18%

Not enough data

1 years with return on file

Admin fee / account holder

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

$10145

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2F2G2T

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.
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.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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

$16K

$3128 / participant

Other / not subdivided$16K100.0%

% of EOY assets

1.915%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$68,054

$167,353-59.3%

$143,797-52.7%

$134,545-49.4%

Participation rate

100.0%

84.8%+15.2pp

80.3%+19.7pp

81.2%+18.8pp

Annual return

-17.60%

0.48%-18.1pp

-0.04%-17.6pp

418.37%-436.0pp

Employer contribution / active EE

$6,178

$5,620+9.9%

$4,952+24.7%

$4,742+30.3%

Participant deferral / active EE

$8,376

$6,447+29.9%

$5,638+48.6%

$6,401+30.9%

Admin fee / account holder

$1,303

$18,096-92.8%

$14,679-91.1%

$11,431-88.6%

403(B) THRIFT PLAN OF MICHIGAN COMMUNITY ACTION AGENCY ASSOC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

403(B) THRIFT PLAN OF MICHIGAN COMMUNITY ACTION AGENCY ASSOC.

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