Retirement plan

403B THRIFT PLAN FOR EMPLOYEES OF UNITED WAY OF CENTRAL VIRGINIA INC

Name: UNITED WAY OF CENTRAL VIRGINIA - 403B THRIFT PLAN FOR EMPLOYEES OF UNITED WAY OF CENTRAL VIRGINIA INC (2022) Form 5500
Creator: UNITED WAY OF CENTRAL VIRGINIA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 403B THRIFT PLAN FOR EMPLOYEES OF UNITED WAY OF CENTRAL VIRGINIA INC, UNITED WAY OF CENTRAL VIRGINIA

UNITED WAY OF CENTRAL VIRGINIAEIN 54-0505923Plan #334PY 2022

1010 MILLER PARK SQ - LYNCHBURG, VA 245012755434-846-8467unitedwaycv.orgLinkedIn11-50 employeesphilanthropy

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$2.1M

-17.6% from 2021

Total participants

+11.1% from 2021

Average account balance

$52,409

-25.9% from 2021

Annual return

-10.26%

-33.20 pp from 2021

Benchmarks

See 9,360 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort9,360 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.49M

Not enough data

1 years with asset history on file

Average account balance

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

$59K

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.

168.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$197K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+10.76%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6636

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 codes2G3D2S2T2F3H

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.
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

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

$254K

$9787 / participant

Other / not subdivided$254K100.0%

% of EOY assets

12.138%

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

$52,409

$54,370-3.6%

$82,763-36.7%

$68,490-23.5%

Participation rate

100.0%

63.9%+36.1pp

72.6%+27.4pp

67.9%+32.1pp

Annual return

-10.26%

-13.67%+3.4pp

702.45%-712.7pp

-7.85%-2.4pp

Employer contribution / active EE

$2,289

$2,219+3.1%

$3,008-23.9%

$2,597-11.9%

Participant deferral / active EE

$1,601

$3,247-50.7%

$4,395-63.6%

$4,028-60.2%

Admin fee / account holder

$6,362

$4,398+44.6%

$5,325+19.5%

$5,403+17.7%

403B THRIFT PLAN FOR EMPLOYEES OF UNITED WAY OF CENTRAL VIRGINIA INC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

403B THRIFT PLAN FOR EMPLOYEES OF UNITED WAY OF CENTRAL VIRGINIA 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