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 (2022) 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 2022

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

Prospect flagsLow assets / participantFailed to transmit contributions

How to read this page

Total assets (EOY)

$5.2M

-17.3% from 2021

Total participants

502

-6.7% from 2021

Average account balance

$11,342

-4.4% from 2021

Annual return

-12.68%

-24.02 pp from 2021

Benchmarks

See 934 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants250-999

Cohort934 peers

Snapshot2022

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 3 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$15,554
WILBANKS, SMITH & THOMAS ASSET MGMT3 years Filed as: WILBANKS SMITH & THOMAS ASSET MANAG Service code 27 150 W MAIN ST STE 1700 · NORFOLK, VA 23510	Advisory (Plan)	$13,628
WITHUMSMITH+BROWN, PC3 years Filed as: BROWN, EDWARDS & COMPANY, LLP Service code 10 1715 PRATT DR STE 2700 · BLACKSBURG, VA 240606387	Accounting	$4,000

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

2 tripped

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

$33K

$124 / participant

Investment mgmt$14K41.1%
Contract admin$20K58.9%

% of EOY assets

0.642%

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$11,342

$47,766-76.3%

$82,744-86.3%

$64,819-82.5%

Participation rate

82.8%

67.7%+15.1pp

72.6%+10.2pp

71.5%+11.3pp

Annual return

-12.68%

-13.06%+0.4pp

702.22%-714.9pp

32.84%-45.5pp

Employer contribution / active EE

$1,698

$2,182-22.2%

$3,008-43.6%

$2,507-32.3%

Participant deferral / active EE

$1,052

$3,332-68.4%

$4,395-76.1%

$4,311-75.6%

Admin fee / account holder

$73

$143-49.1%

$5,325-98.6%

$188-61.3%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$15,554

WILBANKS, SMITH & THOMAS ASSET MGMT3 years

Filed as: WILBANKS SMITH & THOMAS ASSET MANAG

Service code 27

150 W MAIN ST STE 1700 · NORFOLK, VA 23510

Advisory (Plan)

$13,628

WITHUMSMITH+BROWN, PC3 years

Filed as: BROWN, EDWARDS & COMPANY, LLP

Service code 10

1715 PRATT DR STE 2700 · BLACKSBURG, VA 240606387

Accounting

$4,000

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