Retirement plan

GREATER MINNEAPOLIS BUILDING OWNERS & MANAGERS ASSOCIATION 401K PROFIT SHARING PLAN

Name: GREATER MINNEAPOLIS BUILDING OWNERS AND MANAGERS ASSOCIATION - GREATER MINNEAPOLIS BUILDING OWNERS & MANAGERS ASSOCIATION 401K PROFIT SHARING PLAN (2022) Form 5500
Creator: GREATER MINNEAPOLIS BUILDING OWNERS AND MANAGERS ASSOCIATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GREATER MINNEAPOLIS BUILDING OWNERS & MANAGERS ASSOCIATION 401K PROFIT SHARING PLAN, GREATER MINNEAPOLIS BUILDING OWNERS AND MANAGERS ASSOCIATION

GREATER MINNEAPOLIS BUILDING OWNERS AND MANAGERS ASSOCIATIONEIN 41-0668016Plan #002PY 2022

50 SOUTH 6TH STREET, SUITE 1301 - MINNEAPOLIS, MN 55402612-338-8627

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$581K

-12.6% from 2021

Total participants

+20.0% from 2021

Average account balance

$96,804

-27.1% from 2021

Annual return

-10.74%

-22.81 pp from 2021

Benchmarks

See 39,322 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort39,322 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$812K

Not enough data

1 years with asset history on file

Average account balance

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

$135K

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.

300.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$29K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+12.46%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3504

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 codes2E2F2G2J2R3D

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

$45K

$22308 / participant

Other / not subdivided$45K100.0%

% of EOY assets

7.682%

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

$96,804

$92,684+4.4%

$82,706+17.0%

$134,509-28.0%

Participation rate

100.0%

75.2%+24.8pp

72.6%+27.4pp

81.2%+18.8pp

Annual return

-10.74%

945.84%-956.6pp

701.76%-712.5pp

418.13%-428.9pp

Employer contribution / active EE

$6,635

$3,272+102.8%

$3,007+120.6%

$4,741+40.0%

Participant deferral / active EE

$9,539

$4,800+98.7%

$4,394+117.1%

$6,400+49.0%

Admin fee / account holder

$7,436

$5,982+24.3%

$5,329+39.6%

$11,427-34.9%

GREATER MINNEAPOLIS BUILDING OWNERS & MANAGERS ASSOCIATION 401K PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GREATER MINNEAPOLIS BUILDING OWNERS & MANAGERS ASSOCIATION 401K PROFIT SHARING 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