Retirement plan

MONARCH 403(B) PLAN

Name: MONARCH - MONARCH 403(B) PLAN (2023) Form 5500
Creator: MONARCH
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MONARCH 403(B) PLAN, MONARCH

MONARCHEIN 56-1326126Plan #002PY 2023

350 PEE DEE AVE. SUITE A - ALBEMARLE, NC 28001800-230-7825monarchnc.orgLinkedIn1001-5000 employeeshospital & health care

Prospect flagsLow assets / participant

How to read this page

Total assets (EOY)

$11.9M

+6.7% from 2022

Total participants

2,136

+10.3% from 2022

Average account balance

$6,361

+0.7% from 2022

Annual return

15.25%

+31.23 pp from 2022

Benchmarks

See 268 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants1,000-4,999

Cohort268 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$14.56M

Not enough data

1 years with asset history on file

Average account balance

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

$6K

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.

2,349

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.

83.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.02M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+12.93%

Not enough data

1 years with return on file

Admin fee / account holder

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

$12

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 1 by compensation

Provider	Service type	Compensation
FUND DIRECT ADVISORS3 years Service code 20 · EIN 27-3584365	Other fees; Trustee (individual); Tru...	$26,485

Plan features & details

Pension benefit codes2F2G2K2M2S2T3D

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

1 tripped

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$26K

$17 / participant

Other / not subdivided$26K100.0%

% of EOY assets

0.222%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: DAVIDSON HOLLAND WHITESELL & CO
Auditor EIN: 561706742
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$6,361

$52,804-88.0%

$86,617-92.7%

$80,149-92.1%

Participation rate

83.2%

62.6%+20.6pp

71.7%+11.5pp

72.9%+10.3pp

Annual return

15.25%

24.84%-9.6pp

591.91%-576.7pp

40.39%-25.1pp

Employer contribution / active EE

$2,140-100.0%

$3,023-100.0%

$2,977-100.0%

Participant deferral / active EE

$880

$3,226-72.7%

$4,437-80.2%

$5,015-82.4%

Admin fee / account holder

$14

$113-87.5%

$5,613-99.7%

$145-90.2%

Provider

Service type

Compensation

FUND DIRECT ADVISORS3 years

Service code 20 · EIN 27-3584365

Other fees; Trustee (individual); Tru...

$26,485

MONARCH 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MONARCH 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