Retirement plan

BOYS & GIRLS CLUB OF THE LEECH LAKE AREA 401(K) PLAN

Name: BOYS & GIRLS CLUB OF THE LEECH LAKE AREA - BOYS & GIRLS CLUB OF THE LEECH LAKE AREA 401(K) PLAN (2023) Form 5500
Creator: BOYS & GIRLS CLUB OF THE LEECH LAKE AREA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BOYS & GIRLS CLUB OF THE LEECH LAKE AREA 401(K) PLAN, BOYS & GIRLS CLUB OF THE LEECH LAKE AREA

BOYS & GIRLS CLUB OF THE LEECH LAKE AREAEIN 41-1929446Plan #001PY 2023

PO BOX 817 - CASS LAKE, MN 56633218-335-8144bgcleechlake.comLinkedIn11-50 employeescivic & social organization

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$27K

-8.6% from 2022

Total participants

-20.0% from 2022

Average account balance

$6,800

+14.2% from 2022

Annual return

14.51%

+31.01 pp from 2022

Benchmarks

See 41,776 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort41,776 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$35K

Not enough data

1 years with asset history on file

Average account balance

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

$9K

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.

133.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+13.05%

Not enough data

1 years with return on file

Admin fee / account holder

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

$66

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 codes2E2F2G3D2T2J

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.
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 participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
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

$12K

$3930 / participant

Other / not subdivided$12K100.0%

% of EOY assets

43.345%

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

$6,800

$96,691-93.0%

$86,656-92.2%

$139,487-95.1%

Participation rate

100.0%

74.4%+25.6pp

71.7%+28.3pp

80.3%+19.7pp

Annual return

14.51%

106.87%-92.4pp

593.09%-578.6pp

373.84%-359.3pp

Employer contribution / active EE

$1,517

$3,267-53.6%

$3,025-49.9%

$4,755-68.1%

Participant deferral / active EE

$4,838-100.0%

$4,439-100.0%

$6,713-100.0%

Admin fee / account holder

$2,947

$6,414-54.1%

$5,619-47.5%

$11,407-74.2%

BOYS & GIRLS CLUB OF THE LEECH LAKE AREA 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BOYS & GIRLS CLUB OF THE LEECH LAKE AREA 401(K) 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