Retirement plan

403(B) THRIFT PLAN FOR EMPLOYEES OF HEAD OF THE LAKES UNITED WAY

Name: HEAD OF THE LAKES UNITED WAY - 403(B) THRIFT PLAN FOR EMPLOYEES OF HEAD OF THE LAKES UNITED WAY (2023) Form 5500
Creator: HEAD OF THE LAKES UNITED WAY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 403(B) THRIFT PLAN FOR EMPLOYEES OF HEAD OF THE LAKES UNITED WAY, HEAD OF THE LAKES UNITED WAY

HEAD OF THE LAKES UNITED WAYEIN 41-0857077Plan #004PY 2023

314 W SUPERIOR ST STE 750 - DULUTH, MN 558021539218-726-4770unitedwayduluth.orgLinkedIn11-50 employeesfund-raising

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$510K

+6.5% from 2022

Total participants

-3.6% from 2022

Average account balance

$19,615

+6.5% from 2022

Annual return

14.40%

+29.56 pp from 2022

Benchmarks

See 41,808 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort41,808 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$503K

Not enough data

1 years with asset history on file

Average account balance

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

$19K

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.

245.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$58K

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

+11.34%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4568

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 codes2G2J2E2T

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

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

$97K

$10832 / participant

Other / not subdivided$97K100.0%

% of EOY assets

19.116%

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

$19,615

$96,678-79.7%

$86,640-77.4%

$139,466-85.9%

Participation rate

88.9%

74.4%+14.5pp

71.7%+17.2pp

80.3%+8.6pp

Annual return

14.40%

106.69%-92.3pp

592.52%-578.1pp

373.66%-359.3pp

Employer contribution / active EE

$3,319

$3,265+1.7%

$3,024+9.8%

$4,754-30.2%

Participant deferral / active EE

$2,642

$4,837-45.4%

$4,438-40.5%

$6,712-60.6%

Admin fee / account holder

$3,750

$6,410-41.5%

$5,616-33.2%

$11,409-67.1%

403(B) THRIFT PLAN FOR EMPLOYEES OF HEAD OF THE LAKES UNITED WAY

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

403(B) THRIFT PLAN FOR EMPLOYEES OF HEAD OF THE LAKES UNITED WAY

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