Retirement plan

PEARL RIVER VALLEY ELECTRIC POWER ASSOCIATION 401(K) RETIREMENT SAVINGS PLAN

Name: PEARL RIVER VALLEY ELECTRIC POWER ASSOCIATION - PEARL RIVER VALLEY ELECTRIC POWER ASSOCIATION 401(K) RETIREMENT SAVINGS PLAN (2023) Form 5500
Creator: PEARL RIVER VALLEY ELECTRIC POWER ASSOCIATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PEARL RIVER VALLEY ELECTRIC POWER ASSOCIATION 401(K) RETIREMENT SAVINGS PLAN, PEARL RIVER VALLEY ELECTRIC POWER ASSOCIATION

PEARL RIVER VALLEY ELECTRIC POWER ASSOCIATIONEIN 64-0219645Plan #002PY 2023

1422 HIGHWAY 13 NORTH - COLUMBIA, MS 39429601-736-2666prvepa.comLinkedIn51-200 employeesutilities

Other plans on this EIN

1 filing

#001Retirement-$51.6M assets

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$36.6M

+12.5% from 2022

Total participants

163

+1.9% from 2022

Average account balance

$230,051

+12.5% from 2022

Annual return

13.03%

+25.32 pp from 2022

Benchmarks

See 195 peers

Peer group

Industry22 - Utilities

Plan typeDefined contribution

Participants100-249

Cohort195 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$40.96M

Not enough data

1 years with asset history on file

Average account balance

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

$247K

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.

166

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.

98.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.73M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+10.05%

Not enough data

1 years with return on file

Admin fee / account holder

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

$12

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
MAGNOLIA CAPITAL ADVISORS3 years Service code 27 · EIN 83-1488684 4500 I-55 NORTH, SUITE 291 · JACKSON, MS 39211	Advisory (Plan)	$83,884
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INS CO OF AMERICA Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$1,300

Plan features & details

Pension benefit codes2E2F2G2J2K3D

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

$85K

$660 / participant

Investment mgmt$84K98.5%
Contract admin$1K1.5%

% of EOY assets

0.233%

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: TMH, PLLC
Auditor EIN: 205857627
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$230,051

$101,955+125.6%

$112,887+103.8%

$71,476+221.9%

Participation rate

96.9%

82.1%+14.8pp

80.5%+16.4pp

67.9%+29.0pp

Annual return

13.03%

28.92%-15.9pp

34.10%-21.1pp

28.85%-15.8pp

Employer contribution / active EE

$5,852

$4,743+23.4%

$4,563+28.2%

$2,589+126.1%

Participant deferral / active EE

$6,730

$6,771-0.6%

$6,513+3.3%

$4,290+56.9%

Admin fee / account holder

$536

$1,395-61.6%

$7,047-92.4%

$1,587-66.3%

Provider

Service type

Compensation

MAGNOLIA CAPITAL ADVISORS3 years

Service code 27 · EIN 83-1488684

4500 I-55 NORTH, SUITE 291 · JACKSON, MS 39211

Advisory (Plan)

$83,884

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INS CO OF AMERICA

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$1,300

PEARL RIVER VALLEY ELECTRIC POWER ASSOCIATION 401(K) RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PEARL RIVER VALLEY ELECTRIC POWER ASSOCIATION 401(K) RETIREMENT SAVINGS 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