Retirement plan

SOUTH DAKOTA ASSOCIATIONS OF COMMUNITY-BASED HUMAN SERVICES RETIREMENT PLAN

Name: SOUTH DAKOTA COUNCIL OF COMMUNITY BEHAVIORAL HEA - SOUTH DAKOTA ASSOCIATIONS OF COMMUNITY-BASED HUMAN SERVICES RETIREMENT PLAN (2021) Form 5500
Creator: SOUTH DAKOTA COUNCIL OF COMMUNITY BEHAVIORAL HEA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SOUTH DAKOTA ASSOCIATIONS OF COMMUNITY-BASED HUMAN SERVICES RETIREMENT PLAN, SOUTH DAKOTA COUNCIL OF COMMUNITY BEHAVIORAL HEA

SOUTH DAKOTA COUNCIL OF COMMUNITY BEHAVIORAL HEAEIN 46-0442372Plan #001PY 2021

P.O. BOX 532 - PIERRE, SD 575010532605-224-0123

Prospect flagsLow returnsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$45M

+6.8% from 2020

Total participants

2,027

-5.5% from 2020

Average account balance

$39,879

+8.9% from 2020

Annual return

10.40%

-6.26 pp from 2020

Benchmarks

See 1,316 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants1,000-4,999

Cohort1,316 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$59.92M

Not enough data

1 years with asset history on file

Average account balance

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

$57K

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.

1,053

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.

44.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.82M

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

+14.54%

Not enough data

1 years with return on file

Admin fee / account holder

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

$295

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 4 by compensation

Provider	Service type	Compensation
FRINGE BENEFITS DESIGN OF MN, INC.7+ years Filed as: FRINGE BENEFITS DESIGN OF MINNESOTA Service code 15 · EIN 41-1276678 7760 FRANCE AVENUE SOUTH, SUITE 810 · BLOOMINGTON, MN 55435	Recordkeeping	$217,861
MATRIX TRUST COMPANY2 years Filed as: MATRIX TRUST CO Service code 19 · EIN 75-3182674	Securities Custodian	$16,629
BMS FINANCIAL ADVISORS7+ years Service code 16 · EIN 43-2073779	Consulting	$14,094
REDHAWK WEALTH ADVISORS4 years Service code 27 7700 FRANCE AVENUE SOUTH · MINNEAPOLIS, MN 55434	Advisory (Plan)	$8,564

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D

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.
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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$257K

$144 / participant

Investment mgmt$257K100.0%

% of EOY assets

0.571%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: KETEL THORESTENSON
Auditor EIN: 460257538
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$39,879

$67,512-40.9%

$185,849-78.5%

$93,010-57.1%

Participation rate

49.7%

67.1%-17.4pp

81.7%-32.0pp

73.9%-24.2pp

Annual return

10.40%

21.04%-10.6pp

122.10%-111.7pp

158.70%-148.3pp

Employer contribution / active EE

$845

$1,783-52.6%

$5,169-83.7%

$2,705-68.8%

Participant deferral / active EE

$1,345

$3,035-55.7%

$5,569-75.9%

$4,561-70.5%

Admin fee / account holder

$228

$318-28.3%

$16,244-98.6%

$152+50.2%

Provider

Service type

Compensation

FRINGE BENEFITS DESIGN OF MN, INC.7+ years

Filed as: FRINGE BENEFITS DESIGN OF MINNESOTA

Service code 15 · EIN 41-1276678

7760 FRANCE AVENUE SOUTH, SUITE 810 · BLOOMINGTON, MN 55435

Recordkeeping

$217,861

MATRIX TRUST COMPANY2 years

Filed as: MATRIX TRUST CO

Service code 19 · EIN 75-3182674

Securities Custodian

$16,629

BMS FINANCIAL ADVISORS7+ years

Service code 16 · EIN 43-2073779

Consulting

$14,094

REDHAWK WEALTH ADVISORS4 years

Service code 27

7700 FRANCE AVENUE SOUTH · MINNEAPOLIS, MN 55434

Advisory (Plan)

$8,564

SOUTH DAKOTA ASSOCIATIONS OF COMMUNITY-BASED HUMAN SERVICES RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SOUTH DAKOTA ASSOCIATIONS OF COMMUNITY-BASED HUMAN SERVICES RETIREMENT PLAN

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