Retirement plan

401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF MINNESOTA SCHOOL EMPLOYEES ASSOCIATION

Name: MINNESOTA SCHOOL EMPLOYEES ASS - 401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF MINNESOTA SCHOOL EMPLOYEES ASSOCIATION (2023) Form 5500
Creator: MINNESOTA SCHOOL EMPLOYEES ASS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF MINNESOTA SCHOOL EMPLOYEES ASSOCIATION, MINNESOTA SCHOOL EMPLOYEES ASS

MINNESOTA SCHOOL EMPLOYEES ASSEIN 41-1994256Plan #002PY 2023

10 RIVER PARK PLZ STE 810 - SAINT PAUL, MN 551071231651-227-3623msea-mn.comLinkedIn51-200 employeesstaffing and recruiting

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$629K

-46.1% from 2022

Total participants

+15.8% from 2022

Average account balance

$31,462

-51.5% from 2022

Annual return

14.52%

+32.81 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

$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 codes2G3D2J2E2T

Plan features

2E
Profit-sharing
Profit-sharing plan.
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

$782K

$97717 / participant

Other / not subdivided$782K100.0%

% of EOY assets

124.236%

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

$31,462

$96,691-67.5%

$86,656-63.7%

$139,487-77.4%

Participation rate

75.0%

74.4%+0.6pp

71.7%+3.3pp

80.3%-5.3pp

Annual return

14.52%

106.87%-92.3pp

593.09%-578.6pp

373.84%-359.3pp

Employer contribution / active EE

$4,768

$3,267+45.9%

$3,025+57.6%

$4,755+0.3%

Participant deferral / active EE

$4,478

$4,838-7.4%

$4,439+0.9%

$6,713-33.3%

Admin fee / account holder

$39,087

$6,414+509.4%

$5,619+595.7%

$11,407+242.6%

401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF MINNESOTA SCHOOL EMPLOYEES ASSOCIATION

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

401(K) PROFIT SHARING PLAN FOR EMPLOYEES OF MINNESOTA SCHOOL EMPLOYEES ASSOCIATION

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