Retirement plan

SMART PLAN FOR EMPLOYEES OF THE CHAMBER OF COMMERCE OF THE UNITED STATES OF AMERICA

Name: CHAMBER OF COMMERCE OF THE UNITED STATES OF AMERICA - SMART PLAN FOR EMPLOYEES OF THE CHAMBER OF COMMERCE OF THE UNITED STATES OF AMERICA (2023) Form 5500
Creator: CHAMBER OF COMMERCE OF THE UNITED STATES OF AMERICA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SMART PLAN FOR EMPLOYEES OF THE CHAMBER OF COMMERCE OF THE UNITED STATES OF AMERICA, CHAMBER OF COMMERCE OF THE UNITED STATES OF AMERICA

CHAMBER OF COMMERCE OF THE UNITED STATES OF AMERICAEIN 53-0045720Plan #002PY 2023

1615 H STREET, N.W. - WASHINGTON, DC 20062202-463-5391

Other plans on this EIN

1 filing

#001Retirement-$134.5M assets

Prospect flagsHigh retiree %Corrective distributions

How to read this page

Total assets (EOY)

$193.2M

+20.5% from 2022

Total participants

1,194

+4.4% from 2022

Average account balance

$170,521

+15.2% from 2022

Annual return

21.46%

+38.59 pp from 2022

Benchmarks

See 1,011 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants250-999

Cohort1,011 peers

Snapshot2023

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$221.40M

Not enough data

1 years with asset history on file

Average account balance

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

$189K

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.

1,172

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.

51.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$14.64M

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

+16.50%

Not enough data

1 years with return on file

Admin fee / account holder

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

$149

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

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Service providers

Top 2 by compensation

Provider	Service type	Compensation
MERRILL LYNCH PIERCE FENNER & SMITH8 years Filed as: MERRILL LYNCH Service code 49 · EIN 53-0045720	Other Services	$0
FIDELITY INVESTMENTS INSTITUTIONAL9+ years Service code 37 · EIN 04-2647786	Loan Processing	-$85,700

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3F3H

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.
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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

Expense breakdown

Schedule H Part II

Admin total

$131K

$197 / participant

Recordkeeping$131K100.0%

% of EOY assets

0.068%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: ERNST & YOUNG LLP
Auditor EIN: 346565596
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$170,521

$52,208+226.6%

$86,612+96.9%

$74,419+129.1%

Participation rate

90.9%

66.3%+24.5pp

71.7%+19.2pp

70.7%+20.1pp

Annual return

21.46%

44.46%-23.0pp

591.07%-569.6pp

34.38%-12.9pp

Employer contribution / active EE

$10,375

$2,282+354.6%

$3,022+243.3%

$2,637+293.4%

Participant deferral / active EE

$10,233

$3,383+202.5%

$4,438+130.6%

$4,528+126.0%

Admin fee / account holder

$116

$319-63.6%

$5,614-97.9%

$348-66.6%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH8 years

Filed as: MERRILL LYNCH

Service code 49 · EIN 53-0045720

Other Services

FIDELITY INVESTMENTS INSTITUTIONAL9+ years

Service code 37 · EIN 04-2647786

Loan Processing

-$85,700

SMART PLAN FOR EMPLOYEES OF THE CHAMBER OF COMMERCE OF THE UNITED STATES OF AMERICA

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SMART PLAN FOR EMPLOYEES OF THE CHAMBER OF COMMERCE OF THE UNITED STATES OF AMERICA

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