Retirement plan

MAYOR'S FUND FOR LOS ANGELES 403(B) PLAN

Name: MAYOR'S FUND FOR LOS ANGELES - MAYOR'S FUND FOR LOS ANGELES 403(B) PLAN (2023) Form 5500
Creator: MAYOR'S FUND FOR LOS ANGELES
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MAYOR'S FUND FOR LOS ANGELES 403(B) PLAN, MAYOR'S FUND FOR LOS ANGELES

MAYOR'S FUND FOR LOS ANGELESEIN 47-1084641Plan #001PY 2023

200 NORTH SPRING STREET, ROOM 305B - LOS ANGELES, CA 90012213-545-2058mayorsfundla.orgLinkedIn1-10 employeesphilanthropy

Prospect flagsHigh feesLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$528K

+28.9% from 2022

Total participants

+6.9% from 2022

Average account balance

$18,850

+28.9% from 2022

Annual return

12.99%

+24.94 pp from 2022

Benchmarks

See 41,776 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort41,776 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$642K

Not enough data

1 years with asset history on file

Average account balance

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

$26K

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.

357.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$84K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+14.70%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1190

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 codes2L2M2F2G3D

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.
2L
Code section 403(b)(1) arrangement
Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
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.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$22K

$3160 / participant

Other / not subdivided$22K100.0%

% of EOY assets

4.191%

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

$18,850

$96,691-80.5%

$86,656-78.2%

$139,487-86.5%

Participation rate

57.1%

74.4%-17.3pp

71.7%-14.6pp

80.3%-23.2pp

Annual return

12.99%

106.87%-93.9pp

593.09%-580.1pp

373.84%-360.9pp

Employer contribution / active EE

$5,482

$3,267+67.8%

$3,025+81.2%

$4,755+15.3%

Participant deferral / active EE

$7,008

$4,838+44.9%

$4,439+57.9%

$6,713+4.4%

Admin fee / account holder

$790

$6,414-87.7%

$5,619-85.9%

$11,407-93.1%

MAYOR'S FUND FOR LOS ANGELES 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MAYOR'S FUND FOR LOS ANGELES 403(B) 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