Retirement plan

NORTH STAR ELECTRIC COOPERATIVE, INC. 401(K) PLAN

Name: NORTH STAR ELECTRIC COOPERATIVE - NORTH STAR ELECTRIC COOPERATIVE, INC. 401(K) PLAN (2022) Form 5500
Creator: NORTH STAR ELECTRIC COOPERATIVE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NORTH STAR ELECTRIC COOPERATIVE, INC. 401(K) PLAN, NORTH STAR ELECTRIC COOPERATIVE

NORTH STAR ELECTRIC COOPERATIVEEIN 41-0449191Plan #002PY 2022

P.O. BOX 719 - BAUDETTE, MN 56623218-634-2202LinkedIn11-50 employeesutilities

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$5.3M

-20.0% from 2021

Total participants

+12.5% from 2021

Average account balance

$194,950

-28.9% from 2021

Annual return

-16.07%

-29.17 pp from 2021

Benchmarks

See 1,621 peers

Peer group

Industry22 - Utilities

Plan typeDefined contribution

Participants<25

Cohort1,621 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.27M

Not enough data

1 years with asset history on file

Average account balance

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

$303K

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.

126.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$349K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$18K

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

+12.05%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6924

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 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

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

$661K

$33037 / participant

Other / not subdivided$661K100.0%

% of EOY assets

12.553%

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

$194,950

$90,467+115.5%

$93,759+107.9%

$134,532+44.9%

Participation rate

100.0%

82.0%+18.0pp

81.0%+19.0pp

81.2%+18.8pp

Annual return

-16.07%

-15.72%-0.4pp

-11.33%-4.7pp

418.27%-434.3pp

Employer contribution / active EE

$10,844

$4,345+149.6%

$4,324+150.8%

$4,741+128.7%

Participant deferral / active EE

$7,996

$5,980+33.7%

$6,096+31.2%

$6,401+24.9%

Admin fee / account holder

$24,472

$9,258+164.3%

$7,197+240.0%

$11,429+114.1%

NORTH STAR ELECTRIC COOPERATIVE, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NORTH STAR ELECTRIC COOPERATIVE, INC. 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