Retirement plan

DELRAY BEACH PUBLIC LIBRARY ASSOCIATION, INC. 403(B) PLAN

Name: DELRAY BEACH PUBLIC LIBRARY ASSOCIATION, INC. - DELRAY BEACH PUBLIC LIBRARY ASSOCIATION, INC. 403(B) PLAN (2023) Form 5500
Creator: DELRAY BEACH PUBLIC LIBRARY ASSOCIATION, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, DELRAY BEACH PUBLIC LIBRARY ASSOCIATION, INC. 403(B) PLAN, DELRAY BEACH PUBLIC LIBRARY ASSOCIATION, INC.

DELRAY BEACH PUBLIC LIBRARY ASSOCIATION, INC.EIN 59-0217683Plan #001PY 2023

100 WEST ATLANTIC AVENUE - DELRAY BEACH, FL 33444561-266-9488delraylibrary.orgLinkedIn11-50 employeeslibraries

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$1.8M

+22.5% from 2022

Total participants

-3.4% from 2022

Average account balance

$63,335

+26.8% from 2022

Annual return

16.60%

+34.86 pp from 2022

Benchmarks

See 3,174 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants25-99

Cohort3,174 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.61M

Not enough data

1 years with asset history on file

Average account balance

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

$100K

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.

152.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$94K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+13.49%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3384

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 codes2E2F2G2J2L2T3D

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.
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

OpportunityLow participant contribution
Participant 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.)

Expense breakdown

Schedule H Part II

Admin total

$12K

$472 / participant

Other / not subdivided$12K100.0%

% of EOY assets

0.666%

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

$63,335

$68,412-7.4%

$94,679-33.1%

$75,181-15.8%

Participation rate

100.0%

76.1%+23.9pp

80.8%+19.2pp

67.2%+32.8pp

Annual return

16.60%

616.91%-600.3pp

156.75%-140.2pp

160.69%-144.1pp

Employer contribution / active EE

$2,671

$2,701-1.1%

$3,673-27.3%

$2,6710%

Participant deferral / active EE

$1,155

$6,537-82.3%

$7,417-84.4%

$4,126-72.0%

Admin fee / account holder

$422

$5,326-92.1%

$7,233-94.2%

$5,650-92.5%

DELRAY BEACH PUBLIC LIBRARY ASSOCIATION, INC. 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

DELRAY BEACH PUBLIC LIBRARY ASSOCIATION, 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