Retirement plan

LIFT, INC. 403(B) PLAN

Name: LIFT INC. - LIFT, INC. 403(B) PLAN (2024) Form 5500
Creator: LIFT INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LIFT, INC. 403(B) PLAN, LIFT INC.

LIFT INC.EIN 52-2168409Plan #001PY 2024

999 N CAPITOL ST NE STE 310 - WASHINGTON, DC 20002202-289-1151whywelift.orgLinkedIn51-200 employeesindividual & family services

Prospect flagsHigh feesRecently reached 100 employees

How to read this page

Total assets (EOY)

$4M

+32.5% from 2023

Total participants

110

0.0% from 2023

Average account balance

$36,425

+9.4% from 2023

Annual return

20.31%

-6.19 pp from 2023

Benchmarks

See 28,877 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort28,877 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.97M

Not enough data

1 years with asset history on file

Average account balance

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

$36K

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.

109

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.

184.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$528K

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

+20.31%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1496

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 codes2S2F2G2L2T3D

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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$163K

$2764 / participant

Other / not subdivided$163K100.0%

% of EOY assets

4.107%

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

$36,425

$102,429-64.4%

$147,096-75.2%

$80,925-55.0%

Participation rate

98.3%

75.9%+22.4pp

82.2%+16.1pp

67.7%+30.6pp

Annual return

20.31%

135.02%-114.7pp

419.75%-399.4pp

35.65%-15.3pp

Employer contribution / active EE

$3,279

$3,716-11.8%

$4,936-33.6%

$2,756+19.0%

Participant deferral / active EE

$5,673

$6,649-14.7%

$8,071-29.7%

$4,299+32.0%

Admin fee / account holder

$1,496

$7,957-81.2%

$13,005-88.5%

$6,940-78.4%

LIFT, INC. 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LIFT, INC. 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