Retirement plan

401(K) PROFIT SHARING PLAN OF THE ARC MINNESOTA, INC.

Name: THE ARC MINNESOTA, INC. - 401(K) PROFIT SHARING PLAN OF THE ARC MINNESOTA, INC. (2024) Form 5500
Creator: THE ARC MINNESOTA, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 401(K) PROFIT SHARING PLAN OF THE ARC MINNESOTA, INC., THE ARC MINNESOTA, INC.

THE ARC MINNESOTA, INC.EIN 41-0795254Plan #004PY 2024

641 FAIRVIEW AVENUE N, STE 195 - ST. PAUL, MN 55104952-920-0855thearcofminnesota.orgLinkedIn1-10 employeesperforming arts

Other plans on this EIN

1 filing

#005Retirement-$532K assets

Prospect flagsHigh retiree %

How to read this page

Total assets (EOY)

$6.4M

+0.2% from 2023

Total participants

173

-26.7% from 2023

Average account balance

$37,184

+33.7% from 2023

Annual return

14.36%

-3.42 pp from 2023

Benchmarks

See 10,689 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort10,689 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.43M

Not enough data

1 years with asset history on file

Average account balance

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

$37K

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.

173

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$303K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+14.36%

Not enough data

1 years with return on file

Admin fee / account holder

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

$127

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 5 by compensation

Provider	Service type	Compensation
ASCENSUS LLC1 year Filed as: DWC ERISA CONSULTANTS LLC Service code 13	Contract Administrator	$13,345
PRINCIPAL LIFE INSURANCE COMPANY1 year Filed as: PRINCIPAL LIFE INSURANCE Service code 13 · EIN 42-0127290	Contract Administrator	$10,635
BREMER BANK NATIONAL ASSOCIATION1 year Filed as: BREMER BANK Service code 27 · EIN 41-0224890	Advisory (Plan)	$5,088
ASCENSUS LLC1 year Filed as: DWC ERISA CONSULTANTS Service code 13 · EIN 26-2091417	Contract Administrator	$4,316
MORNINGSTAR1 year Filed as: MORNINGSTAR INVESTMENT MANAGEMENT Service code 26 · EIN 36-4317381	Advisory (Participants)	$0

Plan features & details

Pension benefit codes2A2E2J2K2F2G3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

Expense breakdown

Schedule H Part II

Admin total

$22K

$328 / participant

Contract admin$22K100.0%

% of EOY assets

0.341%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BAKER TILLEY US LLP
Auditor EIN: 390859910
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$37,184

$58,234-36.1%

$81,783-54.5%

$80,874-54.0%

Participation rate

100.0%

63.4%+36.6pp

72.4%+27.6pp

67.6%+32.4pp

Annual return

14.36%

41.70%-27.3pp

775.05%-760.7pp

35.62%-21.3pp

Employer contribution / active EE

$2,182

$2,341-6.8%

$2,913-25.1%

$2,756-20.8%

Participant deferral / active EE

$2,337

$3,283-28.8%

$4,320-45.9%

$4,297-45.6%

Admin fee / account holder

$127

$4,982-97.5%

$7,380-98.3%

$6,935-98.2%

Provider

Service type

Compensation

ASCENSUS LLC1 year

Filed as: DWC ERISA CONSULTANTS LLC

Service code 13

Contract Administrator

$13,345

PRINCIPAL LIFE INSURANCE COMPANY1 year

Filed as: PRINCIPAL LIFE INSURANCE

Service code 13 · EIN 42-0127290

Contract Administrator

$10,635

BREMER BANK NATIONAL ASSOCIATION1 year

Filed as: BREMER BANK

Service code 27 · EIN 41-0224890

Advisory (Plan)

$5,088

ASCENSUS LLC1 year

Filed as: DWC ERISA CONSULTANTS

Service code 13 · EIN 26-2091417

Contract Administrator

$4,316

MORNINGSTAR1 year

Filed as: MORNINGSTAR INVESTMENT MANAGEMENT

Service code 26 · EIN 36-4317381

Advisory (Participants)

401(K) PROFIT SHARING PLAN OF THE ARC MINNESOTA, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

401(K) PROFIT SHARING PLAN OF THE ARC MINNESOTA, INC.

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