Retirement plan

COUNCIL OF MICHIGAN FOUNDATIONS 403(B) THRIFT PLAN

Name: COUNCIL OF MICHIGAN FOUNDATIONS - COUNCIL OF MICHIGAN FOUNDATIONS 403(B) THRIFT PLAN (2015) Form 5500
Creator: COUNCIL OF MICHIGAN FOUNDATIONS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, COUNCIL OF MICHIGAN FOUNDATIONS 403(B) THRIFT PLAN, COUNCIL OF MICHIGAN FOUNDATIONS

COUNCIL OF MICHIGAN FOUNDATIONSEIN 38-6263347Plan #002PY 2015

ONE SOUTH HARBOR AVENUE, SUITE 3 - GRAND HAVEN, MI 49417616-850-2131michiganfoundations.orgLinkedIn11-50 employeesphilanthropy

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$2.9M

No prior year

Total participants

No prior year

Average account balance

$56,056

No prior year

Annual return

-1.03%

No prior year

Benchmarks

See 6,735 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort6,735 peers

Snapshot2015

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.07M

Not enough data

1 years with asset history on file

Average account balance

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

$98K

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.

200.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$561K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$22K

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

+15.89%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4544

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 codes2E2G2L2T

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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.

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

$262K

$10092 / participant

Other / not subdivided$262K100.0%

% of EOY assets

9.002%

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

$56,056

$45,152+24.1%

$73,836-24.1%

$59,633-6.0%

Participation rate

100.0%

64.0%+36.0pp

73.4%+26.6pp

68.7%+31.3pp

Annual return

-1.03%

27.40%-28.4pp

2268.06%-2269.1pp

2041.45%-2042.5pp

Employer contribution / active EE

$6,320

$1,901+232.4%

$2,787+126.7%

$2,203+186.9%

Participant deferral / active EE

$3,674

$2,573+42.8%

$3,583+2.5%

$3,192+15.1%

Admin fee / account holder

$5,046

$3,515+43.6%

$4,882+3.4%

$4,297+17.4%

COUNCIL OF MICHIGAN FOUNDATIONS 403(B) THRIFT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

COUNCIL OF MICHIGAN FOUNDATIONS 403(B) THRIFT 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