Retirement plan

FOOD BANK SOUTH CENTRAL MICHIGAN 403(B) PLAN

Name: FOOD BANK SOUTH CENTRAL MICHIGAN - FOOD BANK SOUTH CENTRAL MICHIGAN 403(B) PLAN (2017) Form 5500
Creator: FOOD BANK SOUTH CENTRAL MICHIGAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FOOD BANK SOUTH CENTRAL MICHIGAN 403(B) PLAN, FOOD BANK SOUTH CENTRAL MICHIGAN

FOOD BANK SOUTH CENTRAL MICHIGANEIN 38-3547104Plan #002PY 2017

5451 WAYNE ROAD, PO BOX 408 - BATTLE CREEK, MI 49016269-964-3663smfoodbank.orgLinkedIn11-50 employeescivic & social organization

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$582K

+65.1% from 2016

Total participants

+3.1% from 2016

Average account balance

$21,560

+71.2% from 2016

Annual return

48.84%

+43.04 pp from 2016

Benchmarks

See 17,854 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort17,854 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$763K

Not enough data

1 years with asset history on file

Average account balance

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

$21K

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.

119.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$179K

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

+10.63%

Not enough data

1 years with return on file

Admin fee / account holder

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

$10350

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 codes2F2G2M2T

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.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts 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.

Opportunity flags

1 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$54K

$2069 / participant

Other / not subdivided$54K100.0%

% of EOY assets

9.240%

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

$21,560

$84,236-74.4%

$170,435-87.3%

$70,126-69.3%

Participation rate

76.9%

70.8%+6.1pp

83.6%-6.7pp

69.5%+7.4pp

Annual return

48.84%

23.06%+25.8pp

205.94%-157.1pp

73.15%-24.3pp

Employer contribution / active EE

$2,012

$3,387-40.6%

$5,432-63.0%

$2,343-14.1%

Participant deferral / active EE

$2,022

$3,086-34.5%

$4,939-59.1%

$3,332-39.3%

Admin fee / account holder

$1,992

$5,698-65.0%

$13,881-85.6%

$4,645-57.1%

FOOD BANK SOUTH CENTRAL MICHIGAN 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FOOD BANK SOUTH CENTRAL MICHIGAN 403(B) 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