Retirement plan

403(B) THRIFT PLAN FOR EMPLOYEES OF THE MINNESOTA OPERA

Name: THE MINNESOTA OPERA - 403(B) THRIFT PLAN FOR EMPLOYEES OF THE MINNESOTA OPERA (2024) Form 5500
Creator: THE MINNESOTA OPERA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 403(B) THRIFT PLAN FOR EMPLOYEES OF THE MINNESOTA OPERA, THE MINNESOTA OPERA

THE MINNESOTA OPERAEIN 41-0946789Plan #001PY 2024

JEN THILL CHIEF OF HR, 620 N 1ST ST - MINNEAPOLIS, MN 554011225612-342-9552mnopera.orgLinkedIn51-200 employeesperforming arts

Other plans on this EIN

1 filing

#002Retirement-$596K assets

Prospect flagsHigh feesRecently reached 100 employees

How to read this page

Total assets (EOY)

$5.5M

+9.2% from 2023

Total participants

110

+14.6% from 2023

Average account balance

$53,597

+2.7% from 2023

Annual return

11.21%

+9.83 pp from 2023

Benchmarks

See 3,318 peers

Peer group

Industry71 - Arts, Entertainment, and Recreation

Plan typeDefined contribution

Participants25-99

Cohort3,318 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.47M

Not enough data

1 years with asset history on file

Average account balance

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

$54K

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.

102

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.

154.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$318K

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

+11.21%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4131

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 codes2F2G2M2T3D

Plan features

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.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$421K

$6384 / participant

Other / not subdivided$421K100.0%

% of EOY assets

7.707%

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

$53,597

$51,642+3.8%

$129,384-58.6%

$80,935-33.8%

Participation rate

87.9%

56.9%+31.0pp

69.6%+18.2pp

67.7%+20.2pp

Annual return

11.21%

20.78%-9.6pp

9461.77%-9450.6pp

35.66%-24.4pp

Employer contribution / active EE

$1,542

$1,583-2.6%

$4,153-62.9%

$2,757-44.1%

Participant deferral / active EE

$3,274

$2,670+22.6%

$4,166-21.4%

$4,299-23.9%

Admin fee / account holder

$4,131

$4,312-4.2%

$7,686-46.3%

$6,924-40.3%

403(B) THRIFT PLAN FOR EMPLOYEES OF THE MINNESOTA OPERA

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

403(B) THRIFT PLAN FOR EMPLOYEES OF THE MINNESOTA OPERA

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