Retirement plan

WASHINGTON STATE BUDGET & POLICY CENTER DEFINED CONTRIBUTION PLAN

Name: WASHINGTON STATE BUDGET AND POLICY CENTER - WASHINGTON STATE BUDGET & POLICY CENTER DEFINED CONTRIBUTION PLAN (2023) Form 5500
Creator: WASHINGTON STATE BUDGET AND POLICY CENTER
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WASHINGTON STATE BUDGET & POLICY CENTER DEFINED CONTRIBUTION PLAN, WASHINGTON STATE BUDGET AND POLICY CENTER

WASHINGTON STATE BUDGET AND POLICY CENTEREIN 72-1612982Plan #001PY 2023

509 OLIVE WAY STE 833 - SEATTLE, WA 98101206-262-0973budgetandpolicy.orgLinkedIn11-50 employeespublic policy

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$659K

+17.1% from 2022

Total participants

+7.4% from 2022

Average account balance

$22,713

+9.0% from 2022

Annual return

22.04%

+39.71 pp from 2022

Benchmarks

See 41,808 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort41,808 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$819K

Not enough data

1 years with asset history on file

Average account balance

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

$30K

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.

245.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$89K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+14.62%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1136

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 codes2F2G2L2M2S2T

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.
2L
Code section 403(b)(1) arrangement
Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.

Opportunity flags

1 tripped

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

$126K

$10533 / participant

Other / not subdivided$126K100.0%

% of EOY assets

19.189%

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

$22,713

$96,678-76.5%

$86,640-73.8%

$139,466-83.7%

Participation rate

100.0%

74.4%+25.6pp

71.7%+28.3pp

80.3%+19.7pp

Annual return

22.04%

106.69%-84.7pp

592.52%-570.5pp

373.66%-351.6pp

Employer contribution / active EE

$3,950

$3,265+21.0%

$3,024+30.6%

$4,754-16.9%

Participant deferral / active EE

$4,282

$4,837-11.5%

$4,438-3.5%

$6,712-36.2%

Admin fee / account holder

$4,358

$6,410-32.0%

$5,616-22.4%

$11,409-61.8%

WASHINGTON STATE BUDGET & POLICY CENTER DEFINED CONTRIBUTION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WASHINGTON STATE BUDGET & POLICY CENTER DEFINED CONTRIBUTION 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