Retirement plan

MINNEAPOLIS FEDERATION OF TEACHERS PROFIT SHARING AND 401(K) PLAN

Name: MINNEAPOLIS FEDERATION OF TEACHERS - MINNEAPOLIS FEDERATION OF TEACHERS PROFIT SHARING AND 401(K) PLAN (2019) Form 5500
Creator: MINNEAPOLIS FEDERATION OF TEACHERS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MINNEAPOLIS FEDERATION OF TEACHERS PROFIT SHARING AND 401(K) PLAN, MINNEAPOLIS FEDERATION OF TEACHERS

MINNEAPOLIS FEDERATION OF TEACHERSEIN 41-0833701Plan #001PY 2019

67 -8TH AVENUE NE - MINNEAPOLIS, MN 55413612-529-9621mft59.orgLinkedIn1-10 employeescivic & social organization

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$108K

No prior year

Total participants

No prior year

Average account balance

$21,687

No prior year

Annual return

14.71%

No prior year

Benchmarks

See 35,119 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort35,119 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$172K

Not enough data

1 years with asset history on file

Average account balance

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

$25K

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.

116.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$19K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+8.16%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4872

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 codes2E2G2J2T

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.
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.

Opportunity flags

2 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
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

$21K

$4100 / participant

Other / not subdivided$21K100.0%

% of EOY assets

18.906%

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

$21,687

$103,008-78.9%

$90,304-76.0%

$152,897-85.8%

Participation rate

80.0%

75.9%+4.1pp

73.3%+6.7pp

82.5%-2.5pp

Annual return

14.71%

95.22%-80.5pp

78.13%-63.4pp

345.43%-330.7pp

Employer contribution / active EE

$1,082

$3,139-65.5%

$2,855-62.1%

$4,764-77.3%

Participant deferral / active EE

$249

$4,281-94.2%

$3,885-93.6%

$5,851-95.7%

Admin fee / account holder

$4,100

$6,175-33.6%

$5,354-23.4%

$11,599-64.7%

MINNEAPOLIS FEDERATION OF TEACHERS PROFIT SHARING AND 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MINNEAPOLIS FEDERATION OF TEACHERS PROFIT SHARING AND 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