Retirement plan

LIFT 403B PLAN

Name: LIFT COMMUNITY ACTION AGENCY, INC. - LIFT 403B PLAN (2023) Form 5500
Creator: LIFT COMMUNITY ACTION AGENCY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LIFT 403B PLAN, LIFT COMMUNITY ACTION AGENCY, INC.

LIFT COMMUNITY ACTION AGENCY, INC.EIN 73-0772321Plan #002PY 2023

209 NORTH 4TH - HUGO, OK 74743580-326-3351liftca.orgLinkedIn1-10 employees

Prospect flagsLow returnsCorrective distributions

How to read this page

Total assets (EOY)

$11.8M

-2.1% from 2022

Total participants

285

-1.0% from 2022

Average account balance

$41,388

-1.1% from 2022

Annual return

4.31%

+9.38 pp from 2022

Benchmarks

See 5,708 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,708 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.28M

Not enough data

1 years with asset history on file

Average account balance

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

$36K

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.

309

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.08M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+8.17%

Not enough data

1 years with return on file

Admin fee / account holder

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

$180

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 4 by compensation

Provider	Service type	Compensation
GALLAGHER FIDUCIARY ADVISORS, LLC7 years Filed as: GALLAGHER BENEFIT SERVICES, INC. Service code 27 · EIN 36-4291971	Advisory (Plan)	$30,000
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: GREAT WEST LIFE & ANNUITY INSURANCE Service code 64 8515 E. ORCHARD RD. · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$17,119
EMPLOYEE BENEFITS GROUP, LLC8+ years Service code 13 · EIN 73-1554797	Contract Administrator	$8,903
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 E. ORCHARD RD. · GREENWOOD VILLAGE, CO 80111	Investment Management	$1,783

Plan features & details

Pension benefit codes2M2L2F2G2K2T

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.
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.
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.
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

2 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$53K

$247 / participant

Other / not subdivided$53K100.0%

% of EOY assets

0.450%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: FINLEY & COOK, PLLC
Auditor EIN: 730604334
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$41,388

$61,356-32.5%

$149,696-72.4%

$71,511-42.1%

Participation rate

100.0%

62.5%+37.5pp

78.8%+21.2pp

67.9%+32.1pp

Annual return

4.31%

35.86%-31.5pp

134.46%-130.1pp

28.86%-24.5pp

Employer contribution / active EE

$2,756

$2,382+15.7%

$4,821-42.8%

$2,589+6.4%

Participant deferral / active EE

$1,694

$2,920-42.0%

$5,682-70.2%

$4,291-60.5%

Admin fee / account holder

$186

$1,263-85.3%

$13,212-98.6%

$1,588-88.3%

Provider

Service type

Compensation

GALLAGHER FIDUCIARY ADVISORS, LLC7 years

Filed as: GALLAGHER BENEFIT SERVICES, INC.

Service code 27 · EIN 36-4291971

Advisory (Plan)

$30,000

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: GREAT WEST LIFE & ANNUITY INSURANCE

Service code 64

8515 E. ORCHARD RD. · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$17,119

EMPLOYEE BENEFITS GROUP, LLC8+ years

Service code 13 · EIN 73-1554797

Contract Administrator

$8,903

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 E. ORCHARD RD. · GREENWOOD VILLAGE, CO 80111

Investment Management

$1,783

LIFT 403B PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LIFT 403B 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