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 (2024) 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 2024

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

Prospect flagsLow returnsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$172K

-0.6% from 2023

Total participants

-12.5% from 2023

Average account balance

$24,508

+13.6% from 2023

Annual return

8.16%

-4.16 pp from 2023

Benchmarks

See 50,062 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort50,062 peers

Snapshot2024

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

3 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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$34K

$5684 / participant

Other / not subdivided$34K100.0%

% of EOY assets

19.879%

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

$24,508

$88,702-72.4%

$81,780-70.0%

$145,978-83.2%

Participation rate

100.0%

75.0%+25.0pp

72.4%+27.6pp

80.3%+19.7pp

Annual return

8.16%

1029.12%-1021.0pp

776.27%-768.1pp

550.52%-542.4pp

Employer contribution / active EE

$2,612

$3,084-15.3%

$2,914-10.3%

$4,662-44.0%

Participant deferral / active EE

$550

$4,645-88.2%

$4,321-87.3%

$6,690-91.8%

Admin fee / account holder

$4,872

$8,414-42.1%

$7,384-34.0%

$13,400-63.6%

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