Retirement plan

FOOD BANK OF CENTRAL & EASTERN NORTH CAROLINA, INC. 403(B) PLAN

Name: FOOD BANK OF CENTRAL & EASTERN NORTH CAROLINA, INC - FOOD BANK OF CENTRAL & EASTERN NORTH CAROLINA, INC. 403(B) PLAN (2022) Form 5500
Creator: FOOD BANK OF CENTRAL & EASTERN NORTH CAROLINA, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FOOD BANK OF CENTRAL & EASTERN NORTH CAROLINA, INC. 403(B) PLAN, FOOD BANK OF CENTRAL & EASTERN NORTH CAROLINA, INC

FOOD BANK OF CENTRAL & EASTERN NORTH CAROLINA, INCEIN 56-1283426Plan #001PY 2022

1924 CAPITAL BLVD - RALEIGH, NC 27604919-865-3054foodbankcenc.orgLinkedIn201-500 employeesnon-profit organization management

Other plans on this EIN

1 filing

#002Retirement-$1.0M assets

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$5.7M

-22.9% from 2021

Total participants

101

-11.4% from 2021

Average account balance

$55,990

-13.0% from 2021

Annual return

-16.11%

-29.51 pp from 2021

Benchmarks

See 9,364 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort9,364 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.51M

Not enough data

1 years with asset history on file

Average account balance

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

$101K

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.

200.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$550K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+15.16%

Not enough data

1 years with return on file

Admin fee / account holder

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

$14801

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

Top 4 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.3 years Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 62 · EIN 04-1590850 1295 STATE STREET · SPRINGFIELD, MA 011110001	Recordkeeping fees; Float revenue	$2,533
EPIC RETIREMENT PLAN SERVICES1 year Filed as: QUALIFIED RETIREMENT PLAN SERVICES Service code 13 · EIN 56-1606387 P.O. BOX 99163 · RALEIGH, NC 276249163	Contract Administrator	$700
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	$424
QRPS, INC.3 years Service code 13 · EIN 56-1606387 P.O. BOX 99163 · RALEIGH, NC 276249163	Contract Administrator	$0

Plan features & details

Pension benefit codes2G2M2J2T

Plan features

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.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
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.

Opportunity flags

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$5K

$102 / participant

Investment mgmt$5K100.0%

% of EOY assets

0.088%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CHERRY BEKAERT LLP
Auditor EIN: 560574444
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$55,990

$54,357+3.0%

$82,706-32.3%

$68,495-18.3%

Participation rate

100.0%

63.9%+36.1pp

72.6%+27.4pp

67.9%+32.1pp

Annual return

-16.11%

-13.67%-2.4pp

701.76%-717.9pp

-7.84%-8.3pp

Employer contribution / active EE

$5,939

$2,218+167.7%

$3,007+97.5%

$2,596+128.7%

Participant deferral / active EE

$4,209

$3,246+29.7%

$4,394-4.2%

$4,028+4.5%

Admin fee / account holder

$49

$4,396-98.9%

$5,329-99.1%

$5,403-99.1%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.3 years

Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE

Service code 62 · EIN 04-1590850

1295 STATE STREET · SPRINGFIELD, MA 011110001

Recordkeeping fees; Float revenue

$2,533

EPIC RETIREMENT PLAN SERVICES1 year

Filed as: QUALIFIED RETIREMENT PLAN SERVICES

Service code 13 · EIN 56-1606387

P.O. BOX 99163 · RALEIGH, NC 276249163

Contract Administrator

$700

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

$424

QRPS, INC.3 years

Service code 13 · EIN 56-1606387

P.O. BOX 99163 · RALEIGH, NC 276249163

Contract Administrator

FOOD BANK OF CENTRAL & EASTERN NORTH CAROLINA, INC. 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FOOD BANK OF CENTRAL & EASTERN NORTH CAROLINA, INC. 403(B) 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