Retirement plan

PORTAGE POLICE OFFICERS ASSOCIATION MONEY PURCHASE PENSION PLAN

Name: PORTAGE POLICE OFFICERS ASSOCIATION - PORTAGE POLICE OFFICERS ASSOCIATION MONEY PURCHASE PENSION PLAN (2023) Form 5500
Creator: PORTAGE POLICE OFFICERS ASSOCIATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PORTAGE POLICE OFFICERS ASSOCIATION MONEY PURCHASE PENSION PLAN, PORTAGE POLICE OFFICERS ASSOCIATION

PORTAGE POLICE OFFICERS ASSOCIATIONEIN 38-6498692Plan #001PY 2023

7810 SHAVER ROAD - PORTAGE, MI 49024269-329-4567

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$9.2M

+32.3% from 2022

Total participants

+7.6% from 2022

Average account balance

$129,407

+19.3% from 2022

Annual return

26.44%

+45.21 pp from 2022

Benchmarks

See 53 peers

Peer group

IndustryUnknown

Plan typeDefined contribution

Participants25-99

Cohort53 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.26M

Not enough data

1 years with asset history on file

Average account balance

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

$152K

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.

145.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$758K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

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

+20.24%

Not enough data

1 years with return on file

Admin fee / account holder

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

$7840

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 codes2C2F2G3D2T

Plan features

2C
Money purchase plan
Money purchase pension plan other than a target benefit 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.
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

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

$87K

$1736 / participant

Other / not subdivided$87K100.0%

% of EOY assets

0.945%

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

$129,407

$32,714+295.6%

$75,173+72.1%

Participation rate

100.0%

52.5%+47.5pp

67.2%+32.8pp

Annual return

26.44%

25.21%+1.2pp

160.72%-134.3pp

Employer contribution / active EE

$9,354

$1,809+417.2%

$2,671+250.2%

Participant deferral / active EE

$2,266-100.0%

$4,126-100.0%

Admin fee / account holder

$1,223

$3,179-61.5%

$5,651-78.4%

PORTAGE POLICE OFFICERS ASSOCIATION MONEY PURCHASE PENSION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PORTAGE POLICE OFFICERS ASSOCIATION MONEY PURCHASE PENSION 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