Retirement plan

GREATER BIRMINGHAM CONVENTION AND VISITORS BUREAU 401K PLAN

Name: GREATER BIRMINGHAM CONVENTION AND VISITORS BUREAU - GREATER BIRMINGHAM CONVENTION AND VISITORS BUREAU 401K PLAN (2023) Form 5500
Creator: GREATER BIRMINGHAM CONVENTION AND VISITORS BUREAU
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GREATER BIRMINGHAM CONVENTION AND VISITORS BUREAU 401K PLAN, GREATER BIRMINGHAM CONVENTION AND VISITORS BUREAU

GREATER BIRMINGHAM CONVENTION AND VISITORS BUREAUEIN 63-0581024Plan #002PY 2023

950 22ND STREET N, SUITE 550 - BIRMINGHAM, AL 35203205-458-8000LinkedIn1-10 employeeshospitality

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$3.9M

+19.7% from 2022

Total participants

-5.6% from 2022

Average account balance

$114,934

+23.2% from 2022

Annual return

15.30%

+29.48 pp from 2022

Benchmarks

See 3,174 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants25-99

Cohort3,174 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.80M

Not enough data

1 years with asset history on file

Average account balance

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

$137K

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.

83.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$476K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+20.77%

Not enough data

1 years with return on file

Admin fee / account holder

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

$11291

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 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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$357K

$10831 / participant

Other / not subdivided$357K100.0%

% of EOY assets

9.147%

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

$114,934

$68,394+68.0%

$94,672+21.4%

$75,177+52.9%

Participation rate

100.0%

76.1%+23.9pp

80.8%+19.2pp

67.2%+32.8pp

Annual return

15.30%

616.92%-601.6pp

156.89%-141.6pp

160.75%-145.4pp

Employer contribution / active EE

$6,557

$2,701+142.8%

$3,673+78.5%

$2,671+145.5%

Participant deferral / active EE

$8,443

$6,536+29.2%

$7,417+13.8%

$4,126+104.6%

Admin fee / account holder

$10,513

$5,326+97.4%

$7,222+45.6%

$5,651+86.0%

GREATER BIRMINGHAM CONVENTION AND VISITORS BUREAU 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GREATER BIRMINGHAM CONVENTION AND VISITORS BUREAU 401K 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