Retirement plan

TOMBIGBEE ELECTRIC POWER ASSOCIATION 401(K) PLAN

Name: TOMBIGBEE ELECTRIC POWER ASSOCIATION - TOMBIGBEE ELECTRIC POWER ASSOCIATION 401(K) PLAN (2022) Form 5500
Creator: TOMBIGBEE ELECTRIC POWER ASSOCIATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TOMBIGBEE ELECTRIC POWER ASSOCIATION 401(K) PLAN, TOMBIGBEE ELECTRIC POWER ASSOCIATION

TOMBIGBEE ELECTRIC POWER ASSOCIATIONEIN 64-0254740Plan #002PY 2022

P. O. DRAWER 1789 - TUPELO, MS 38802662-842-7635tepa1.comLinkedIn1-10 employees

Prospect flagsLow participant contribution

How to read this page

Total assets (EOY)

$5.7M

-9.7% from 2021

Total participants

232

+10.5% from 2021

Average account balance

$29,992

-18.2% from 2021

Annual return

-7.60%

-21.57 pp from 2021

Benchmarks

See 181 peers

Peer group

Industry22 - Utilities

Plan typeDefined contribution

Participants100-249

Cohort181 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.19M

Not enough data

1 years with asset history on file

Average account balance

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

$29K

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.

212

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.

83.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$290K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+11.43%

Not enough data

1 years with return on file

Admin fee / account holder

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

$111

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

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Service providers

Top 1 by compensation

Provider	Service type	Compensation
MORNINGSTAR2 years Service code 27 · EIN 36-3297908	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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

1 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$15K

$77 / participant

Contract admin$15K100.0%

% of EOY assets

0.261%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: FRANKS, FRANKS, WILEMON & HAGOOD PA
Auditor EIN: 640736635
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$29,992

$99,016-69.7%

$93,786-68.0%

$66,949-55.2%

Participation rate

78.8%

82.1%-3.4pp

81.0%-2.2pp

69.8%+8.9pp

Annual return

-7.60%

-14.59%+7.0pp

-11.32%+3.7pp

1.57%-9.2pp

Employer contribution / active EE

$4,769-100.0%

$4,328-100.0%

$2,545-100.0%

Participant deferral / active EE

$1,330

$6,689-80.1%

$6,100-78.2%

$4,239-68.6%

Admin fee / account holder

$78

$477-83.6%

$7,184-98.9%

$594-86.8%

Provider

Service type

Compensation

MORNINGSTAR2 years

Service code 27 · EIN 36-3297908

Advisory (Plan)

TOMBIGBEE ELECTRIC POWER ASSOCIATION 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TOMBIGBEE ELECTRIC POWER ASSOCIATION 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