Retirement plan

MINNESOTA ASSOCIATION OF PROFESSIONAL EMPLOYEES 401(K) PLAN

Name: MINNESOTA ASSOCIATION OF PROFESSIONAL EMPLOYEES - MINNESOTA ASSOCIATION OF PROFESSIONAL EMPLOYEES 401(K) PLAN (2022) Form 5500
Creator: MINNESOTA ASSOCIATION OF PROFESSIONAL EMPLOYEES
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MINNESOTA ASSOCIATION OF PROFESSIONAL EMPLOYEES 401(K) PLAN, MINNESOTA ASSOCIATION OF PROFESSIONAL EMPLOYEES

MINNESOTA ASSOCIATION OF PROFESSIONAL EMPLOYEESEIN 41-1386652Plan #002PY 2022

3460 LEXINGTON AVE. N - SHOREVIEW, MN 55126651-227-6457LinkedIn201-500 employeescivic & social organization

Prospect flagsLow participationLow employer contribution

How to read this page

Total assets (EOY)

$685K

-14.6% from 2021

Total participants

+20.8% from 2021

Average account balance

$62,249

-14.6% from 2021

Annual return

-18.53%

-27.49 pp from 2021

Benchmarks

See 9,363 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort9,363 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

Not enough data

1 years with asset history on file

Average account balance

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

Not enough data

0 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

0 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

Not enough data

0 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

Not enough data

0 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+2.12%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 codes2F2G2J2T3D

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.
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.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.

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

$62,249

$54,355+14.5%

$82,744-24.8%

$68,486-9.1%

Participation rate

30.8%

63.9%-33.2pp

72.6%-41.8pp

67.9%-37.1pp

Annual return

-18.53%

-13.67%-4.9pp

702.22%-720.7pp

-7.85%-10.7pp

Employer contribution / active EE

$2,219-100.0%

$3,008-100.0%

$2,597-100.0%

Participant deferral / active EE

$1,209

$3,246-62.8%

$4,395-72.5%

$4,028-70.0%

Admin fee / account holder

$4,397-100.0%

$5,325-100.0%

$5,404-100.0%

MINNESOTA ASSOCIATION OF PROFESSIONAL EMPLOYEES 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

MINNESOTA ASSOCIATION OF PROFESSIONAL EMPLOYEES 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion