Retirement plan

FAMILYMEANS

Name: FAMILYMEANS - FAMILYMEANS (2023) Form 5500
Creator: FAMILYMEANS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FAMILYMEANS, FAMILYMEANS

FAMILYMEANSEIN 41-6045574Plan #004PY 2023

1875 NORTHWESTERN AVE S - STILLWATER, MN 550827534651-439-4840familymeans.orgLinkedIn51-200 employeeshuman resources

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$7.6M

+17.9% from 2022

Total participants

-4.1% from 2022

Average account balance

$81,754

+19.1% from 2022

Annual return

17.25%

+33.50 pp from 2022

Benchmarks

See 20,797 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort20,797 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.87M

Not enough data

1 years with asset history on file

Average account balance

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

$80K

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.

187.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$239K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+15.91%

Not enough data

1 years with return on file

Admin fee / account holder

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

$25327

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 codes2G3D2J

Plan features

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.
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

$156K

$3246 / participant

Other / not subdivided$156K100.0%

% of EOY assets

2.050%

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

$81,754

$77,920+4.9%

$149,723-45.4%

$75,177+8.7%

Participation rate

100.0%

65.6%+34.4pp

78.8%+21.2pp

67.2%+32.8pp

Annual return

17.25%

31.72%-14.5pp

134.50%-117.2pp

160.75%-143.5pp

Employer contribution / active EE

$967

$3,138-69.2%

$4,821-79.9%

$2,671-63.8%

Participant deferral / active EE

$3,102

$3,411-9.1%

$5,682-45.4%

$4,126-24.8%

Admin fee / account holder

$1,676

$5,951-71.8%

$13,215-87.3%

$5,651-70.4%

FAMILYMEANS

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FAMILYMEANS

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