Retirement plan

401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF UNITED WAY OF CENTRAL MINNESOTA

Name: UNITED WAY OF CENTRAL MINNESOT - 401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF UNITED WAY OF CENTRAL MINNESOTA (2024) Form 5500
Creator: UNITED WAY OF CENTRAL MINNESOT
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF UNITED WAY OF CENTRAL MINNESOTA, UNITED WAY OF CENTRAL MINNESOT

UNITED WAY OF CENTRAL MINNESOTEIN 41-0915124Plan #002PY 2024

921 1ST ST N STE 200 - SAINT CLOUD, MN 563034602320-252-0227unitedwayhelps.orgLinkedIn11-50 employeesnon-profit organization management

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$893K

+30.6% from 2023

Total participants

+36.7% from 2023

Average account balance

$27,046

+18.7% from 2023

Annual return

17.28%

+0.22 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

$893K

Not enough data

1 years with asset history on file

Average account balance

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

$27K

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.

117.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$111K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+17.28%

Not enough data

1 years with return on file

Admin fee / account holder

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

$603

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 codes2G3D2J2F2E

Plan features

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.
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

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

$20K

$711 / participant

Other / not subdivided$20K100.0%

% of EOY assets

2.231%

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

$27,046

$58,234-53.6%

$81,783-66.9%

$80,874-66.6%

Participation rate

71.4%

63.4%+8.0pp

72.4%-0.9pp

67.6%+3.8pp

Annual return

17.28%

41.70%-24.4pp

775.05%-757.8pp

35.62%-18.3pp

Employer contribution / active EE

$1,644

$2,341-29.8%

$2,913-43.6%

$2,756-40.3%

Participant deferral / active EE

$2,303

$3,283-29.8%

$4,320-46.7%

$4,297-46.4%

Admin fee / account holder

$603

$4,982-87.9%

$7,380-91.8%

$6,935-91.3%

401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF UNITED WAY OF CENTRAL MINNESOTA

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF UNITED WAY OF CENTRAL MINNESOTA

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