Retirement plan

MID-CUMBERLAND COMMUNITY ACTION AGENCY 401(K) PLAN

Name: MID-CUMBERLAND COMMUNITY ACTION AGE - MID-CUMBERLAND COMMUNITY ACTION AGENCY 401(K) PLAN (2023) Form 5500
Creator: MID-CUMBERLAND COMMUNITY ACTION AGE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MID-CUMBERLAND COMMUNITY ACTION AGENCY 401(K) PLAN, MID-CUMBERLAND COMMUNITY ACTION AGE

MID-CUMBERLAND COMMUNITY ACTION AGEEIN 62-0859072Plan #001PY 2023

3735 N MT. JULIET RD. STE. 104 - MT. JULIET, TN 37122615-742-1113midcumberland.orgLinkedIn51-200 employeesnon-profit organization management

Prospect flagsLow fidelity bondCorrective distributions

How to read this page

Total assets (EOY)

$3.7M

+25.5% from 2022

Total participants

214

-6.1% from 2022

Average account balance

$18,733

+29.3% from 2022

Annual return

16.82%

+37.44 pp from 2022

Benchmarks

See 1,918 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants100-249

Cohort1,918 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.19M

Not enough data

1 years with asset history on file

Average account balance

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

$18K

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.

233

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.

93.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$602K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+14.18%

Not enough data

1 years with return on file

Admin fee / account holder

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

$183

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 2 by compensation

Provider	Service type	Compensation
RENASANT BANK2 years Service code 21 209 TROY ST · TUPELO, MS 38802	Bank Trustee	$28,805
EPIC RETIREMENT PLAN SERVICES2 years Service code 15 · EIN 16-1450952	Recordkeeping	$5,932

Plan features & details

Pension benefit codes2E2J2F2G3D2T

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

2 tripped

ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$35K

$196 / participant

Recordkeeping$6K17.1%
Trustee / custodial$29K82.9%

% of EOY assets

0.951%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: STONE, RUDOLPH, AND HENRY
Auditor EIN: 620811623
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$18,733

$58,292-67.9%

$86,640-78.4%

$71,511-73.8%

Participation rate

89.3%

65.0%+24.2pp

71.7%+17.6pp

67.9%+21.3pp

Annual return

16.82%

21.63%-4.8pp

592.52%-575.7pp

28.86%-12.0pp

Employer contribution / active EE

$1,879

$2,574-27.0%

$3,024-37.9%

$2,589-27.4%

Participant deferral / active EE

$1,153

$3,438-66.5%

$4,438-74.0%

$4,291-73.1%

Admin fee / account holder

$178

$1,057-83.2%

$5,616-96.8%

$1,588-88.8%

Provider

Service type

Compensation

RENASANT BANK2 years

Service code 21

209 TROY ST · TUPELO, MS 38802

Bank Trustee

$28,805

EPIC RETIREMENT PLAN SERVICES2 years

Service code 15 · EIN 16-1450952

Recordkeeping

$5,932

MID-CUMBERLAND COMMUNITY ACTION AGENCY 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MID-CUMBERLAND COMMUNITY ACTION AGENCY 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