Retirement plan

NORTHWEST MINNESOTA FOUNDATION 403(B) RETIREMENT PLAN

Name: NORTHWEST MINNESOTA FOUNDATION - NORTHWEST MINNESOTA FOUNDATION 403(B) RETIREMENT PLAN (2015) Form 5500
Creator: NORTHWEST MINNESOTA FOUNDATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NORTHWEST MINNESOTA FOUNDATION 403(B) RETIREMENT PLAN, NORTHWEST MINNESOTA FOUNDATION

NORTHWEST MINNESOTA FOUNDATIONEIN 41-1556013Plan #001PY 2015

201 3RD ST NW - BEMIDJI, MN 56601218-759-2057nwmf.orgLinkedIn11-50 employeesnon-profit organization management

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.9M

No prior year

Total participants

No prior year

Average account balance

$98,914

No prior year

Annual return

-0.55%

No prior year

Benchmarks

See 26,340 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort26,340 peers

Snapshot2015

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.42M

Not enough data

1 years with asset history on file

Average account balance

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

$78K

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.

110.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$302K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+13.57%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4980

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 codes2F2G2M

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.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$181K

$9536 / participant

Other / not subdivided$181K100.0%

% of EOY assets

9.641%

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

$98,914

$84,684+16.8%

$73,835+34.0%

$125,388-21.1%

Participation rate

94.7%

76.8%+18.0pp

73.4%+21.3pp

83.2%+11.5pp

Annual return

-0.55%

3123.93%-3124.5pp

2268.13%-2268.7pp

282.24%-282.8pp

Employer contribution / active EE

$2,516

$3,123-19.4%

$2,788-9.7%

$4,866-48.3%

Participant deferral / active EE

$7,944

$3,993+99.0%

$3,583+121.7%

$5,352+48.4%

Admin fee / account holder

$9,536

$5,691+67.6%

$4,880+95.4%

$9,5410%

NORTHWEST MINNESOTA FOUNDATION 403(B) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NORTHWEST MINNESOTA FOUNDATION 403(B) RETIREMENT 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