Retirement plan

STATE POLICY NETWORK 403(B) PLAN

Name: STATE POLICY NETWORK - STATE POLICY NETWORK 403(B) PLAN (2024) Form 5500
Creator: STATE POLICY NETWORK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, STATE POLICY NETWORK 403(B) PLAN, STATE POLICY NETWORK

STATE POLICY NETWORKEIN 57-0952531Plan #001PY 2024

1500 WILSON BLVD, SUITE 600 - ARLINGTON, VA 22209703-243-1655spn.orgLinkedIn11-50 employeesthink tanks

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$6M

+37.7% from 2023

Total participants

+12.3% from 2023

Average account balance

$76,532

+23.5% from 2023

Annual return

21.89%

-4.58 pp from 2023

Benchmarks

See 10,657 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort10,657 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.97M

Not enough data

1 years with asset history on file

Average account balance

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

$77K

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.

127.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$807K

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

+21.89%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1648

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 codes2T2F2G2L3D

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.
2L
Code section 403(b)(1) arrangement
Plan uses a Code section 403(b)(1) annuity contract 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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$129K

$2107 / participant

Other / not subdivided$129K100.0%

% of EOY assets

2.153%

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

$76,532

$58,275+31.3%

$81,844-6.5%

$80,935-5.4%

Participation rate

93.4%

63.5%+30.0pp

72.4%+21.1pp

67.7%+25.8pp

Annual return

21.89%

41.82%-19.9pp

778.87%-757.0pp

35.66%-13.8pp

Employer contribution / active EE

$4,560

$2,346+94.4%

$2,916+56.3%

$2,757+65.4%

Participant deferral / active EE

$8,670

$3,285+163.9%

$4,323+100.5%

$4,299+101.6%

Admin fee / account holder

$1,648

$4,749-65.3%

$7,355-77.6%

$6,924-76.2%

STATE POLICY NETWORK 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

STATE POLICY NETWORK 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