Retirement plan

DEFINED CONTRIBUTION PENSION PLAN FOR EMPLOYEES OF UNITED WAY OF MADISON COUNTY, INC.

Name: UNITED WAY OF MADISON COUNTY, - DEFINED CONTRIBUTION PENSION PLAN FOR EMPLOYEES OF UNITED WAY OF MADISON COUNTY, INC. (2023) Form 5500
Creator: UNITED WAY OF MADISON COUNTY,
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, DEFINED CONTRIBUTION PENSION PLAN FOR EMPLOYEES OF UNITED WAY OF MADISON COUNTY, INC., UNITED WAY OF MADISON COUNTY,

UNITED WAY OF MADISON COUNTY,EIN 63-0366294Plan #001PY 2023

701 ANDREW JACKSON WAY NE - HUNTSVILLE, AL 358013504256-536-0745uwmadisoncounty.orgLinkedIn11-50 employeesnon-profit organization management

Other plans on this EIN

1 filing

#002Retirement-$446K assets

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$1.1M

-5.3% from 2022

Total participants

-7.4% from 2022

Average account balance

$45,388

-1.6% from 2022

Annual return

12.51%

+32.92 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

$1.23M

Not enough data

1 years with asset history on file

Average account balance

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

$51K

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.

342.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$38K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+10.21%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2316

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 codes2F2G3D

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.
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

$254K

$42258 / participant

Other / not subdivided$254K100.0%

% of EOY assets

22.345%

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

$45,388

$96,691-53.1%

$86,656-47.6%

$139,487-67.5%

Participation rate

100.0%

74.4%+25.6pp

71.7%+28.3pp

80.3%+19.7pp

Annual return

12.51%

106.87%-94.4pp

593.09%-580.6pp

373.84%-361.3pp

Employer contribution / active EE

$6,567

$3,267+101.0%

$3,025+117.1%

$4,755+38.1%

Participant deferral / active EE

$4,838-100.0%

$4,439-100.0%

$6,713-100.0%

Admin fee / account holder

$10,142

$6,414+58.1%

$5,619+80.5%

$11,407-11.1%

DEFINED CONTRIBUTION PENSION PLAN FOR EMPLOYEES OF UNITED WAY OF MADISON COUNTY, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

DEFINED CONTRIBUTION PENSION PLAN FOR EMPLOYEES OF UNITED WAY OF MADISON COUNTY, 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