Retirement plan

EDMOND AREA CHAMBER OF COMMERCE 401(K) PLAN

Name: EDMOND AREA CHAMBER OF COMMERCE - EDMOND AREA CHAMBER OF COMMERCE 401(K) PLAN (2022) Form 5500
Creator: EDMOND AREA CHAMBER OF COMMERCE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, EDMOND AREA CHAMBER OF COMMERCE 401(K) PLAN, EDMOND AREA CHAMBER OF COMMERCE

EDMOND AREA CHAMBER OF COMMERCEEIN 73-0544087Plan #001PY 2022

825 EAST 2ND STREET, SUITE 100 - EDMOND, OK 73034405-216-2007edmondchamber.comLinkedIn1-10 employeesnon-profit organization management

Prospect flagsLow returnsHigh feesLow participationLow fidelity bond

How to read this page

Total assets (EOY)

$396K

-15.4% from 2021

Total participants

+20.0% from 2021

Average account balance

$44,030

-6.1% from 2021

Annual return

-21.86%

-36.22 pp from 2021

Benchmarks

See 39,290 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort39,290 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$156K

Not enough data

1 years with asset history on file

Average account balance

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

$16K

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.

200.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$50K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+14.18%

Not enough data

1 years with return on file

Admin fee / account holder

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

$61889

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 codes2E2F2G2J3D

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.
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

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$9K

$1546 / participant

Other / not subdivided$9K100.0%

% of EOY assets

2.341%

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

$44,030

$92,743-52.5%

$82,744-46.8%

$134,532-67.3%

Participation rate

50.0%

75.2%-25.2pp

72.6%-22.6pp

81.2%-31.2pp

Annual return

-21.86%

946.63%-968.5pp

702.22%-724.1pp

418.27%-440.1pp

Employer contribution / active EE

$783

$3,273-76.1%

$3,008-74.0%

$4,741-83.5%

Participant deferral / active EE

$5,603

$4,802+16.7%

$4,395+27.5%

$6,401-12.5%

Admin fee / account holder

$1,031

$5,977-82.8%

$5,325-80.6%

$11,429-91.0%

EDMOND AREA CHAMBER OF COMMERCE 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

EDMOND AREA CHAMBER OF COMMERCE 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