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 (2023) 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 2023

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

Prospect flagsLow participant contribution

How to read this page

Total assets (EOY)

$173K

+20.0% from 2022

Total participants

+14.3% from 2022

Average account balance

$21,576

+5.0% from 2022

Annual return

12.31%

+28.36 pp from 2022

Benchmarks

See 41,854 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort41,854 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$190K

Not enough data

1 years with asset history on file

Average account balance

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

$21K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$28K

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

+11.05%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3178

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

1 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$2K

$270 / participant

Other / not subdivided$2K100.0%

% of EOY assets

1.095%

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

$21,576

$96,643-77.7%

$86,617-75.1%

$139,456-84.5%

Participation rate

100.0%

74.4%+25.6pp

71.7%+28.3pp

80.3%+19.7pp

Annual return

12.31%

106.57%-94.3pp

591.91%-579.6pp

373.45%-361.1pp

Employer contribution / active EE

$1,516

$3,264-53.6%

$3,023-49.9%

$4,753-68.1%

Participant deferral / active EE

$336

$4,835-93.1%

$4,437-92.4%

$6,711-95.0%

Admin fee / account holder

$236

$6,406-96.3%

$5,613-95.8%

$11,407-97.9%

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