Retirement plan

401(K) PLAN FOR EMPLOYEES OF MSEA

Name: MINNESOTA SCHOOL EMPLOYEES ASSOCIATION - 401(K) PLAN FOR EMPLOYEES OF MSEA (2024) Form 5500
Creator: MINNESOTA SCHOOL EMPLOYEES ASSOCIATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 401(K) PLAN FOR EMPLOYEES OF MSEA, MINNESOTA SCHOOL EMPLOYEES ASSOCIATION

MINNESOTA SCHOOL EMPLOYEES ASSOCIATIONEIN 41-1994256Plan #002PY 2024

10 RIVER PARK PLAZA, SUITE 810 - SAINT PAUL, MN 55107651-392-6793msea-mn.comLinkedIn51-200 employeesstaffing and recruiting

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$618K

-1.8% from 2023

Total participants

-13.6% from 2023

Average account balance

$32,510

+3.3% from 2023

Annual return

28.61%

+14.09 pp from 2023

Benchmarks

See 49,949 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort49,949 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$618K

Not enough data

1 years with asset history on file

Average account balance

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

$33K

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.

237.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$86K

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

+28.61%

Not enough data

1 years with return on file

Admin fee / account holder

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

$14702

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 codes2E3D2G2J2F2T

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

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

$279K

$34917 / participant

Other / not subdivided$279K100.0%

% of EOY assets

45.222%

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

$32,510

$88,754-63.4%

$81,820-60.3%

$145,877-77.7%

Participation rate

100.0%

75.1%+24.9pp

72.4%+27.6pp

80.3%+19.7pp

Annual return

28.61%

1031.77%-1003.2pp

777.93%-749.3pp

551.28%-522.7pp

Employer contribution / active EE

$5,345

$3,085+73.2%

$2,915+83.4%

$4,663+14.6%

Participant deferral / active EE

$5,436

$4,648+17.0%

$4,323+25.7%

$6,691-18.8%

Admin fee / account holder

$14,702

$8,424+74.5%

$7,391+98.9%

$13,402+9.7%

401(K) PLAN FOR EMPLOYEES OF MSEA

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

401(K) PLAN FOR EMPLOYEES OF MSEA

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