Retirement plan

MAHUBE COMMUNITY COUNCIL, INC. RETIREMENT SAVINGS

Name: MAHUBE COMMUNITY COUNCIL, INC. - MAHUBE COMMUNITY COUNCIL, INC. RETIREMENT SAVINGS (2020) Form 5500
Creator: MAHUBE COMMUNITY COUNCIL, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MAHUBE COMMUNITY COUNCIL, INC. RETIREMENT SAVINGS, MAHUBE COMMUNITY COUNCIL, INC.

MAHUBE COMMUNITY COUNCIL, INC.EIN 41-6049474Plan #001PY 2020

1125 W. RIVER ROAD - DETROIT LAKES, MN 56501218-847-1385LinkedIn51-200 employeesnon-profit organization management

Prospect flagsLow returnsFailed to transmit contributions

How to read this page

Total assets (EOY)

$8.9M

-2.1% from 2019

Total participants

192

-3.0% from 2019

Average account balance

$49,936

+1.2% from 2019

Annual return

-1.42%

-4.98 pp from 2019

Benchmarks

See 5,414 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,414 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.47M

Not enough data

1 years with asset history on file

Average account balance

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

$54K

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.

213

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.

72.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$853K

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

+3.75%

Not enough data

1 years with return on file

Admin fee / account holder

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

$95

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 10 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.5+ years Service code 49 · EIN 04-1590850	Other Services	$35,250
INDEPENDENT FINANCIAL PARTNERS5+ years Service code 70 · EIN 59-3331424	Consulting Fees	$18,288
AMERICAN FUNDS2 years Service code 52 · EIN 22-1557722	Indirect Investment Fees	$0
ENVESTNET RETIREMENT SOLUTIONS, LLC2 years Service code 28 · EIN 61-1732930	Investment Management	$0
FIDELITY INVESTMENTS INSTITUTIONAL3 years Filed as: FIDELITY ADVISOR Service code 52 · EIN 04-3022712	Indirect Investment Fees	$0
INVESCO3 years Service code 52 · EIN 84-0933032	Indirect Investment Fees	$0
MFS INVESTMENT MANAGEMENT3 years Service code 52 · EIN 04-3158862	Indirect Investment Fees	$0
PIMCO FUNDS3 years Service code 52 · EIN 95-2632339	Indirect Investment Fees	$0
THE VANGUARD GROUP, INC.1 year Filed as: VANGUARD Service code 52 · EIN 04-6035483	Indirect Investment Fees	$0
WELLS FARGO BANK, N.A.2 years Filed as: WELLS FARGO Service code 52 · EIN 41-0449260	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2J2F2G2K3D2T

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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 returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$35K

$243 / participant

Contract admin$2K4.4%
Other / not subdivided$34K95.6%

% of EOY assets

0.397%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: CLIFTONLARSONALLEN, LLP
Auditor EIN: 410746749
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$49,936

$58,895-15.2%

$178,503-72.0%

$73,497-32.1%

Participation rate

90.3%

66.2%+24.1pp

81.9%+8.4pp

70.7%+19.7pp

Annual return

-1.42%

24.86%-26.3pp

151.12%-152.5pp

28.51%-29.9pp

Employer contribution / active EE

$1,673

$2,236-25.2%

$5,011-66.6%

$2,270-26.3%

Participant deferral / active EE

$2,163

$2,567-15.7%

$5,202-58.4%

$3,740-42.2%

Admin fee / account holder

$198

$400-50.5%

$13,987-98.6%

$513-61.4%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.5+ years

Service code 49 · EIN 04-1590850

Other Services

$35,250

INDEPENDENT FINANCIAL PARTNERS5+ years

Service code 70 · EIN 59-3331424

Consulting Fees

$18,288

AMERICAN FUNDS2 years

Service code 52 · EIN 22-1557722

Indirect Investment Fees

ENVESTNET RETIREMENT SOLUTIONS, LLC2 years

Service code 28 · EIN 61-1732930

Investment Management

FIDELITY INVESTMENTS INSTITUTIONAL3 years

Filed as: FIDELITY ADVISOR

Service code 52 · EIN 04-3022712

Indirect Investment Fees

INVESCO3 years

Service code 52 · EIN 84-0933032

Indirect Investment Fees

MFS INVESTMENT MANAGEMENT3 years

Service code 52 · EIN 04-3158862

Indirect Investment Fees

PIMCO FUNDS3 years

Service code 52 · EIN 95-2632339

Indirect Investment Fees

THE VANGUARD GROUP, INC.1 year

Filed as: VANGUARD

Service code 52 · EIN 04-6035483

Indirect Investment Fees

WELLS FARGO BANK, N.A.2 years

Filed as: WELLS FARGO

Service code 52 · EIN 41-0449260

Indirect Investment Fees

MAHUBE COMMUNITY COUNCIL, INC. RETIREMENT SAVINGS

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MAHUBE COMMUNITY COUNCIL, INC. RETIREMENT SAVINGS

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