Retirement plan

BENWOOD FOUNDATION 403(B) PLAN

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

BENWOOD FOUNDATIONEIN 62-0476283Plan #001PY 2023

736 MARKET ST., SUITE 1600 - CHATTANOOGA, TN 37402423-785-4226benwood.orgLinkedIn1-10 employeesphilanthropy

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$2.9M

+22.9% from 2022

Total participants

0.0% from 2022

Average account balance

$584,245

+22.9% from 2022

Annual return

15.36%

+33.27 pp from 2022

Benchmarks

See 41,776 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort41,776 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.52M

Not enough data

1 years with asset history on file

Average account balance

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

$704K

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

$172K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$34K

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

+14.54%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3006

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 codes2M3D2G2F2T

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.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts 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.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$12K

$2386 / participant

Other / not subdivided$12K100.0%

% of EOY assets

0.408%

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

$584,245

$96,691+504.2%

$86,656+574.2%

$139,487+318.9%

Participation rate

100.0%

74.4%+25.6pp

71.7%+28.3pp

80.3%+19.7pp

Annual return

15.36%

106.87%-91.5pp

593.09%-577.7pp

373.84%-358.5pp

Employer contribution / active EE

$13,470

$3,267+312.3%

$3,025+345.2%

$4,755+183.3%

Participant deferral / active EE

$22,260

$4,838+360.1%

$4,439+401.4%

$6,713+231.6%

Admin fee / account holder

$2,386

$6,414-62.8%

$5,619-57.5%

$11,407-79.1%

BENWOOD FOUNDATION 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BENWOOD FOUNDATION 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