Retirement plan

403(B) THRIFT PLAN OF INDEPENDENCE, INC.

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

INDEPENDENCE, INC.EIN 45-0438429Plan #001PY 2020

2000 BURDICK EXPY E STE C - MINOT, ND 587015032701-839-4724independencecil.orgLinkedIn1-10 employeesnon-profit organization management

Prospect flagsHigh feesLow assets / participantLow participant contribution

How to read this page

Total assets (EOY)

$178K

+20.7% from 2019

Total participants

-14.3% from 2019

Average account balance

$14,826

+40.9% from 2019

Annual return

11.77%

-18.86 pp from 2019

Benchmarks

See 102,105 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants<25

Cohort102,105 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$367K

Not enough data

1 years with asset history on file

Average account balance

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

$20K

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.

138.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$29K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+14.64%

Not enough data

1 years with return on file

Admin fee / account holder

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

$665

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 codes2F2G2T

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.

Opportunity flags

3 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$9K

$1137 / participant

Other / not subdivided$9K100.0%

% of EOY assets

5.111%

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

$14,826

$209,428-92.9%

$178,498-91.7%

$158,950-90.7%

Participation rate

100.0%

86.4%+13.6pp

81.9%+18.1pp

82.0%+18.0pp

Annual return

11.77%

188.78%-177.0pp

151.09%-139.3pp

302.91%-291.1pp

Employer contribution / active EE

$1,185

$5,707-79.2%

$5,011-76.3%

$4,762-75.1%

Participant deferral / active EE

$1,588

$5,955-73.3%

$5,202-69.5%

$5,983-73.5%

Admin fee / account holder

$758

$17,077-95.6%

$13,985-94.6%

$11,248-93.3%

403(B) THRIFT PLAN OF INDEPENDENCE, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

403(B) THRIFT PLAN OF INDEPENDENCE, INC.

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