Retirement plan

403(B) THRIFT PLAN OF FAMILY RESOURCE CENTER OF SOUTH FLORIDA, INC.

Name: FAMILY RESOURCE CENTER - 403(B) THRIFT PLAN OF FAMILY RESOURCE CENTER OF SOUTH FLORIDA, INC. (2024) Form 5500
Creator: FAMILY RESOURCE CENTER
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 403(B) THRIFT PLAN OF FAMILY RESOURCE CENTER OF SOUTH FLORIDA, INC., FAMILY RESOURCE CENTER

FAMILY RESOURCE CENTEREIN 59-1788265Plan #002PY 2024

1393 SW 1ST ST - MIAMI, FL 331352321305-374-6006

Prospect flagsLow employer contributionLow fidelity bond

How to read this page

Total assets (EOY)

$4.4M

+11.0% from 2023

Total participants

211

-0.5% from 2023

Average account balance

$23,464

+9.2% from 2023

Annual return

13.98%

-1.32 pp from 2023

Benchmarks

See 6,007 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort6,007 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.36M

Not enough data

1 years with asset history on file

Average account balance

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

$23K

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.

186

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.

79.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$217K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+13.98%

Not enough data

1 years with return on file

Admin fee / account holder

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

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
MUTUAL OF AMERICA INVESTMENT CORP6 years Service code 12 320 PARK AVENUE · NEW YORK, NY 10022	Account maintenance fees; Recordkeepi...	$1,792

Plan features & details

Pension benefit codes2G3D2J2E2T

Plan features

2E
Profit-sharing
Profit-sharing plan.
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

2 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
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

$2K

$14 / participant

Other / not subdivided$2K100.0%

% of EOY assets

0.039%

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: CBIZ CPAS P.C.
Auditor EIN: 431947695
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$23,464

$55,446-57.7%

$155,574-84.9%

$74,429-68.5%

Participation rate

79.2%

61.9%+17.3pp

78.2%+1.0pp

67.2%+12.0pp

Annual return

13.98%

269.20%-255.2pp

64.87%-50.9pp

1368.38%-1354.4pp

Employer contribution / active EE

$2,266-100.0%

$4,676-100.0%

$2,625-100.0%

Participant deferral / active EE

$1,808

$2,836-36.2%

$5,629-67.9%

$4,348-58.4%

Admin fee / account holder

$1,743-99.5%

$15,914-99.9%

$1,944-99.5%

Provider

Service type

Compensation

MUTUAL OF AMERICA INVESTMENT CORP6 years

Service code 12

320 PARK AVENUE · NEW YORK, NY 10022

Account maintenance fees; Recordkeepi...

$1,792

403(B) THRIFT PLAN OF FAMILY RESOURCE CENTER OF SOUTH FLORIDA, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

403(B) THRIFT PLAN OF FAMILY RESOURCE CENTER OF SOUTH FLORIDA, INC.

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