Retirement plan

TOTAL ACTION AGAINST POVERTY IN ROANOKE VALLEY, INC. RETIREMENT AND 401(K) SAVINGS PLAN

Name: TOTAL ACTION AGAINST POVERTY IN ROANOKE VALLEY, INC. - TOTAL ACTION AGAINST POVERTY IN ROANOKE VALLEY, INC. RETIREMENT AND 401(K) SAVINGS PLAN (2020) Form 5500
Creator: TOTAL ACTION AGAINST POVERTY IN ROANOKE VALLEY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TOTAL ACTION AGAINST POVERTY IN ROANOKE VALLEY, INC. RETIREMENT AND 401(K) SAVINGS PLAN, TOTAL ACTION AGAINST POVERTY IN ROANOKE VALLEY, INC.

TOTAL ACTION AGAINST POVERTY IN ROANOKE VALLEY, INC.EIN 54-6057095Plan #002PY 2020

302 SECOND STREET - ROANOKE, VA 24011540-330-4579LinkedIn11-50 employeesnon-profit organization management

Prospect flagsLow returnsLow assets / participantFailed to transmit contributions

How to read this page

Total assets (EOY)

$5.5M

+12.6% from 2019

Total participants

506

+10.2% from 2019

Average account balance

$11,443

+6.9% from 2019

Annual return

11.03%

-1.65 pp from 2019

Benchmarks

See 874 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants250-999

Cohort874 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.12M

Not enough data

1 years with asset history on file

Average account balance

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

$12K

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.

499

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.

90.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$818K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+10.51%

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

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

Service providers

Top 4 by compensation

Provider	Service type	Compensation
SUNTRUST BANKS, INC.6+ years Service code 21 303 PEACHTREE STREET, 15TH FLOOR · ATLANTA, GA 30308	Bank Trustee	$42,250
WILBANKS, SMITH & THOMAS ASSET MGMT1 year Filed as: WILBANKS SMITH & THOMAS ASSET MANAG Service code 99 150 W MAIN ST STE 1700 · NORFOLK, VA 23510	Other Fees	$9,315
VIRGINIA CAPITAL STRATEGIES6+ years Service code 16 110 W CHURCH AVE STE 401 · ROANOKE, VA 24011	Consulting	$6,175
WITHUMSMITH+BROWN, PC1 year Filed as: BROWN, EDWARDS & COMPANY, LLP Service code 10 2 PLAYERS CLUB DR STE 100 · CHARLESTON, WV 25311	Accounting	$3,870

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D

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.
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 returns
Annual investment return is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match 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

$62K

$193 / participant

Contract admin$62K100.0%

% of EOY assets

1.129%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: BROWN, EDWARDS AND CO, LLP
Auditor EIN: 540504608
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$11,443

$52,722-78.3%

$90,461-87.3%

$73,412-84.4%

Participation rate

90.9%

67.7%+23.2pp

72.7%+18.2pp

72.2%+18.7pp

Annual return

11.03%

20.70%-9.7pp

1294.76%-1283.7pp

59.30%-48.3pp

Employer contribution / active EE

$1,137

$1,872-39.2%

$3,264-65.2%

$2,234-49.1%

Participant deferral / active EE

$854

$2,810-69.6%

$3,964-78.4%

$3,806-77.5%

Admin fee / account holder

$129

$117+10.5%

$5,617-97.7%

$158-18.2%

Provider

Service type

Compensation

SUNTRUST BANKS, INC.6+ years

Service code 21

303 PEACHTREE STREET, 15TH FLOOR · ATLANTA, GA 30308

Bank Trustee

$42,250

WILBANKS, SMITH & THOMAS ASSET MGMT1 year

Filed as: WILBANKS SMITH & THOMAS ASSET MANAG

Service code 99

150 W MAIN ST STE 1700 · NORFOLK, VA 23510

Other Fees

$9,315

VIRGINIA CAPITAL STRATEGIES6+ years

Service code 16

110 W CHURCH AVE STE 401 · ROANOKE, VA 24011

Consulting

$6,175

WITHUMSMITH+BROWN, PC1 year

Filed as: BROWN, EDWARDS & COMPANY, LLP

Service code 10

2 PLAYERS CLUB DR STE 100 · CHARLESTON, WV 25311

Accounting

$3,870

TOTAL ACTION AGAINST POVERTY IN ROANOKE VALLEY, INC. RETIREMENT AND 401(K) SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TOTAL ACTION AGAINST POVERTY IN ROANOKE VALLEY, INC. RETIREMENT AND 401(K) SAVINGS 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