Retirement plan

GREATER MIAMI CHAMBER OF COMMERCE 401(K) PLAN

Name: GREATER MIAMI CHAMBER OF COMMERCE - GREATER MIAMI CHAMBER OF COMMERCE 401(K) PLAN (2021) Form 5500
Creator: GREATER MIAMI CHAMBER OF COMMERCE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GREATER MIAMI CHAMBER OF COMMERCE 401(K) PLAN, GREATER MIAMI CHAMBER OF COMMERCE

GREATER MIAMI CHAMBER OF COMMERCEEIN 59-0358775Plan #001PY 2021

1 S.E. 3RD AVE SUITE 1410 - MIAMI, FL 33131305-350-7700miamichamber.comLinkedIn11-50 employeesnon-profit organization management

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.3M

+5.2% from 2020

Total participants

-30.6% from 2020

Average account balance

$52,530

+47.3% from 2020

Annual return

11.40%

-12.35 pp from 2020

Benchmarks

See 15,329 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants<25

Cohort15,329 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.60M

Not enough data

1 years with asset history on file

Average account balance

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

$53K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$146K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+16.38%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1712

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 codes2F2T2G2J2E3D

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.
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

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

$181K

$12929 / participant

Other / not subdivided$181K100.0%

% of EOY assets

13.782%

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

$52,530

$114,093-54.0%

$96,171-45.4%

$167,536-68.6%

Participation rate

100.0%

75.1%+24.9pp

68.4%+31.6pp

82.1%+17.9pp

Annual return

11.40%

190.00%-178.6pp

192.04%-180.6pp

478.82%-467.4pp

Employer contribution / active EE

$1,249

$3,429-63.6%

$2,799-55.4%

$4,839-74.2%

Participant deferral / active EE

$3,670

$5,197-29.4%

$4,350-15.6%

$6,342-42.1%

Admin fee / account holder

$7,240

$6,899+4.9%

$5,538+30.7%

$12,315-41.2%

GREATER MIAMI CHAMBER OF COMMERCE 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GREATER MIAMI CHAMBER OF COMMERCE 401(K) 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