Retirement plan

403(B) THRIFT PLAN OF METROLINA ASSOCIATION FOR THE BLIND, INC.

Name: METROLINA ASSOCIATION FOR THE BLIND, INC. - 403(B) THRIFT PLAN OF METROLINA ASSOCIATION FOR THE BLIND, INC. (2024) Form 5500
Creator: METROLINA ASSOCIATION FOR THE BLIND, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 403(B) THRIFT PLAN OF METROLINA ASSOCIATION FOR THE BLIND, INC., METROLINA ASSOCIATION FOR THE BLIND, INC.

METROLINA ASSOCIATION FOR THE BLIND, INC.EIN 56-0529998Plan #002PY 2024

704 LOUISE AVE - CHARLOTTE, NC 282042128704-372-3870mabnc.orgLinkedIn11-50 employeesnon-profit organization management

Prospect flagsLow returnsHigh feesLow employer contribution

How to read this page

Total assets (EOY)

$1.4M

-19.6% from 2023

Total participants

-8.7% from 2023

Average account balance

$25,128

-11.0% from 2023

Annual return

9.94%

-9.93 pp from 2023

Benchmarks

See 21,742 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort21,742 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.41M

Not enough data

1 years with asset history on file

Average account balance

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

$25K

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.

147.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$97K

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

+9.94%

Not enough data

1 years with return on file

Admin fee / account holder

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

$10979

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 codes2F2G2S2T3D

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.

Opportunity flags

3 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$615K

$16179 / participant

Other / not subdivided$615K100.0%

% of EOY assets

43.693%

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

$25,128

$81,262-69.1%

$155,602-83.9%

$80,911-68.9%

Participation rate

81.6%

66.2%+15.3pp

78.2%+3.4pp

67.6%+13.9pp

Annual return

9.94%

33.34%-23.4pp

64.81%-54.9pp

35.63%-25.7pp

Employer contribution / active EE

$349

$3,102-88.8%

$4,675-92.5%

$2,756-87.4%

Participant deferral / active EE

$2,216

$3,451-35.8%

$5,629-60.6%

$4,297-48.4%

Admin fee / account holder

$10,979

$7,992+37.4%

$15,923-31.1%

$6,935+58.3%

403(B) THRIFT PLAN OF METROLINA ASSOCIATION FOR THE BLIND, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

403(B) THRIFT PLAN OF METROLINA ASSOCIATION FOR THE BLIND, 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