Retirement plan

WESTERN MARYLAND AHEC DEFINED CONTRIBUTION PENSION PLAN

Name: WESTERN MARYLAND AREA HEALTH EDUCATION CENTER INC. - WESTERN MARYLAND AHEC DEFINED CONTRIBUTION PENSION PLAN (2021) Form 5500
Creator: WESTERN MARYLAND AREA HEALTH EDUCATION CENTER INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WESTERN MARYLAND AHEC DEFINED CONTRIBUTION PENSION PLAN, WESTERN MARYLAND AREA HEALTH EDUCATION CENTER INC.

WESTERN MARYLAND AREA HEALTH EDUCATION CENTER INC.EIN 52-1183533Plan #002PY 2021

39 BALTIMORE ST, SUITE 201 - CUMBERLAND, MD 21502301-777-9150wmahec.comLinkedIn11-50 employeesinternet

Prospect flagsHigh feesLow participant contributionLow fidelity bond

How to read this page

Total assets (EOY)

$1.1M

+14.7% from 2020

Total participants

+7.4% from 2020

Average account balance

$38,146

+6.8% from 2020

Annual return

10.23%

-4.36 pp from 2020

Benchmarks

See 6,475 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants<25

Cohort6,475 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$480K

Not enough data

1 years with asset history on file

Average account balance

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

$22K

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.

78.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$57K

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

+16.21%

Not enough data

1 years with return on file

Admin fee / account holder

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

$42

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 codes2C2F2G2S2T3D

Plan features

2C
Money purchase plan
Money purchase pension plan other than a target benefit 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.
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 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.)
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

$35K

$1663 / participant

Other / not subdivided$35K100.0%

% of EOY assets

3.157%

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

$38,146

$84,713-55.0%

$75,717-49.6%

$167,518-77.2%

Participation rate

100.0%

77.8%+22.2pp

74.8%+25.2pp

82.1%+17.9pp

Annual return

10.23%

199.49%-189.3pp

104.58%-94.3pp

478.71%-468.5pp

Employer contribution / active EE

$3,719

$3,229+15.2%

$2,743+35.6%

$4,838-23.1%

Participant deferral / active EE

$4,578-100.0%

$3,821-100.0%

$6,342-100.0%

Admin fee / account holder

$1,204

$5,357-77.5%

$3,619-66.7%

$12,312-90.2%

WESTERN MARYLAND AHEC DEFINED CONTRIBUTION PENSION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WESTERN MARYLAND AHEC DEFINED CONTRIBUTION PENSION 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