Retirement plan

403(B) THRIFT PLAN OF SERVE MINNESOTA

Name: SERVE MINNESOTA - 403(B) THRIFT PLAN OF SERVE MINNESOTA (2020) Form 5500
Creator: SERVE MINNESOTA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 403(B) THRIFT PLAN OF SERVE MINNESOTA, SERVE MINNESOTA

SERVE MINNESOTAEIN 41-2010058Plan #001PY 2020

120 S 6TH ST STE 2260 - MINNEAPOLIS, MN 554021824612-333-7740

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$2.3M

+33.0% from 2019

Total participants

+6.9% from 2019

Average account balance

$75,656

+24.4% from 2019

Annual return

16.75%

-10.62 pp from 2019

Benchmarks

See 8,767 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort8,767 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.58M

Not enough data

1 years with asset history on file

Average account balance

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

$99K

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.

127.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$429K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+14.24%

Not enough data

1 years with return on file

Admin fee / account holder

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

$8601

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 codes2F2G2T3D

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.
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

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

$25K

$961 / participant

Other / not subdivided$25K100.0%

% of EOY assets

1.065%

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

$75,656

$60,139+25.8%

$90,461-16.4%

$79,856-5.3%

Participation rate

100.0%

65.0%+35.0pp

72.7%+27.3pp

69.6%+30.4pp

Annual return

16.75%

71.96%-55.2pp

1294.76%-1278.0pp

31.71%-15.0pp

Employer contribution / active EE

$2,507

$2,069+21.2%

$3,264-23.2%

$2,471+1.4%

Participant deferral / active EE

$9,454

$2,939+221.7%

$3,964+138.5%

$3,741+152.7%

Admin fee / account holder

$806

$3,978-79.8%

$5,617-85.7%

$5,306-84.8%

403(B) THRIFT PLAN OF SERVE MINNESOTA

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

403(B) THRIFT PLAN OF SERVE MINNESOTA

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