Retirement plan

403(B) THRIFT PLAN OF EMPOWERING ABILITIES

Name: EMPOWERING ABILITIES - 403(B) THRIFT PLAN OF EMPOWERING ABILITIES (2023) Form 5500
Creator: EMPOWERING ABILITIES
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 403(B) THRIFT PLAN OF EMPOWERING ABILITIES, EMPOWERING ABILITIES

EMPOWERING ABILITIESEIN 42-0947868Plan #002PY 2023

3402 HICKORY GROVE RD - DAVENPORT, IA 528063305563-391-4834empoweringabilities.orgLinkedIn201-500 employeesindividual & family services

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$15.6M

+17.7% from 2022

Total participants

502

-22.3% from 2022

Average account balance

$33,070

+48.4% from 2022

Annual return

15.55%

+28.86 pp from 2022

Benchmarks

See 4,036 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort4,036 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$16.78M

Not enough data

1 years with asset history on file

Average account balance

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

$34K

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.

500

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.

94.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.10M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+12.43%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 1 by compensation

Provider	Service type	Compensation
MUTUAL OF AMERICA INVESTMENT CORP5 years Service code 12 320 PARK AVENUE · NEW YORK, NY 10022	Recordkeeping and information managem...	$2,376

Plan features & details

Pension benefit codes2G3D2J2E2S2T

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$2K

$8 / participant

Other / not subdivided$2K100.0%

% of EOY assets

0.016%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: ANDERSON LOWER WHITLOW PC
Auditor EIN: 421394940
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$33,070

$47,180-29.9%

$149,723-77.9%

$74,473-55.6%

Participation rate

90.5%

63.4%+27.1pp

78.8%+11.7pp

70.7%+19.8pp

Annual return

15.55%

22.75%-7.2pp

134.50%-118.9pp

34.36%-18.8pp

Employer contribution / active EE

$1,565

$1,907-17.9%

$4,821-67.5%

$2,638-40.7%

Participant deferral / active EE

$1,799

$2,730-34.1%

$5,682-68.3%

$4,530-60.3%

Admin fee / account holder

$343-98.5%

$13,215-100.0%

$347-98.5%

Provider

Service type

Compensation

MUTUAL OF AMERICA INVESTMENT CORP5 years

Service code 12

320 PARK AVENUE · NEW YORK, NY 10022

Recordkeeping and information managem...

$2,376

403(B) THRIFT PLAN OF EMPOWERING ABILITIES

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

403(B) THRIFT PLAN OF EMPOWERING ABILITIES

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