Retirement plan

403(B) THRIFT PLAN FOR EMPLOYEES OF MENTAL HEALTH ASSOCIATION OF MARYLAND, INC.

Name: MENTAL HEALTH ASSOCIATION - 403(B) THRIFT PLAN FOR EMPLOYEES OF MENTAL HEALTH ASSOCIATION OF MARYLAND, INC. (2023) Form 5500
Creator: MENTAL HEALTH ASSOCIATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 403(B) THRIFT PLAN FOR EMPLOYEES OF MENTAL HEALTH ASSOCIATION OF MARYLAND, INC., MENTAL HEALTH ASSOCIATION

MENTAL HEALTH ASSOCIATIONEIN 52-0591666Plan #002PY 2023

1301 YORK RD STE 505 - LUTHERVILLE, MD 210936008443-901-1550mhamd.orgLinkedIn11-50 employeesmental health care

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$4M

+44.7% from 2022

Total participants

-1.1% from 2022

Average account balance

$47,872

+44.7% from 2022

Annual return

37.22%

+52.50 pp from 2022

Benchmarks

See 9,806 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort9,806 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.75M

Not enough data

1 years with asset history on file

Average account balance

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

$55K

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.

111.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$327K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+28.77%

Not enough data

1 years with return on file

Admin fee / account holder

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

$8792

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 codes2G2F2S2T3D

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.
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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$162K

$3371 / participant

Other / not subdivided$162K100.0%

% of EOY assets

4.024%

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

$47,872

$57,330-16.5%

$86,656-44.8%

$75,177-36.3%

Participation rate

91.7%

63.2%+28.5pp

71.7%+20.0pp

67.2%+24.5pp

Annual return

37.22%

2675.40%-2638.2pp

593.09%-555.9pp

160.75%-123.5pp

Employer contribution / active EE

$2,849

$2,316+23.0%

$3,025-5.8%

$2,671+6.7%

Participant deferral / active EE

$4,833

$3,320+45.6%

$4,439+8.9%

$4,126+17.1%

Admin fee / account holder

$1,926

$4,115-53.2%

$5,619-65.7%

$5,651-65.9%

403(B) THRIFT PLAN FOR EMPLOYEES OF MENTAL HEALTH ASSOCIATION OF MARYLAND, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

403(B) THRIFT PLAN FOR EMPLOYEES OF MENTAL HEALTH ASSOCIATION OF MARYLAND, 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