Retirement plan

THE BRITISH EMBASSY 401(K) PLAN

Name: THE BRITISH EMBASSY - THE BRITISH EMBASSY 401(K) PLAN (2023) Form 5500
Creator: THE BRITISH EMBASSY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE BRITISH EMBASSY 401(K) PLAN, THE BRITISH EMBASSY

THE BRITISH EMBASSYEIN 52-2150359Plan #002PY 2023

3100 MASSACHUETTS AVENUE, NW - WASHINGTON, DC 20008202-588-6500

Prospect flagsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$41.2M

+21.5% from 2022

Total participants

774

+5.0% from 2022

Average account balance

$80,347

+16.8% from 2022

Annual return

15.76%

+29.13 pp from 2022

Benchmarks

See 35 peers

Peer group

Industry92 - Public Administration

Plan typeDefined contribution

Participants250-999

Cohort35 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$46.53M

Not enough data

1 years with asset history on file

Average account balance

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

$87K

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.

532

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.

55.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.43M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+14.92%

Not enough data

1 years with return on file

Admin fee / account holder

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

$257

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
UNIGLOBAL PENSION PLANNING, INC.5 years Service code 15 · EIN 13-3601506	Recordkeeping	$44,335
TRANSAMERICA RETIREMENT SOLUTIONS5 years Filed as: TRANSAMERICA LIFE INS. COMPANY Service code 15 · EIN 39-0989781	Recordkeeping	$43,375
GREAT-WEST LIFE & ANNUITY INSURANCE5 years Filed as: EDWARD D JONES & COMPANY Service code 27 · EIN 43-0345811	Advisory (Plan)	$36,077
MESIROW FINANCIAL INVESTMENT MANAGE5 years Filed as: MESIROW FINANCIAL, INC. Service code 27 · EIN 36-3194849	Advisory (Plan)	$7,425

Plan features & details

Pension benefit codes2E2J2K2F2G2T3D

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.
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

2 tripped

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

$132K

$237 / participant

Investment mgmt$8K6.3%
Contract admin$124K93.7%

% of EOY assets

0.321%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BELFINT, LYONS & SHUMAN, P.A.
Auditor EIN: 510232399
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$80,347

$47,746+68.3%

$70,160+14.5%

$74,473+7.9%

Participation rate

53.3%

72.7%-19.4pp

78.8%-25.5pp

70.7%-17.4pp

Annual return

15.76%

18.37%-2.6pp

19.08%-3.3pp

34.36%-18.6pp

Employer contribution / active EE

$2,789

$2,297+21.4%

$4,285-34.9%

$2,638+5.7%

Participant deferral / active EE

$5,066

$3,187+59.0%

$5,394-6.1%

$4,530+11.8%

Admin fee / account holder

$258

$567-54.5%

$4,582-94.4%

$347-25.7%

Provider

Service type

Compensation

UNIGLOBAL PENSION PLANNING, INC.5 years

Service code 15 · EIN 13-3601506

Recordkeeping

$44,335

TRANSAMERICA RETIREMENT SOLUTIONS5 years

Filed as: TRANSAMERICA LIFE INS. COMPANY

Service code 15 · EIN 39-0989781

Recordkeeping

$43,375

GREAT-WEST LIFE & ANNUITY INSURANCE5 years

Filed as: EDWARD D JONES & COMPANY

Service code 27 · EIN 43-0345811

Advisory (Plan)

$36,077

MESIROW FINANCIAL INVESTMENT MANAGE5 years

Filed as: MESIROW FINANCIAL, INC.

Service code 27 · EIN 36-3194849

Advisory (Plan)

$7,425

THE BRITISH EMBASSY 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE BRITISH EMBASSY 401(K) 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