Retirement plan

BETTER BUSINESS BUREAU, INC. 401(K) PLAN

Name: BETTER BUSINESS BUREAU OF AUSTIN, - BETTER BUSINESS BUREAU, INC. 401(K) PLAN (2024) Form 5500
Creator: BETTER BUSINESS BUREAU OF AUSTIN,
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BETTER BUSINESS BUREAU, INC. 401(K) PLAN, BETTER BUSINESS BUREAU OF AUSTIN,

BETTER BUSINESS BUREAU OF AUSTIN,EIN 74-1116918Plan #001PY 2024

1805 RUTHERFORD LANE SUITE 100 - AUSTIN, TX 78754512-206-2804LinkedIn1-10 employeescivic & social organization

Prospect flagsHigh feesCorrective distributions

How to read this page

Total assets (EOY)

$6.9M

+13.4% from 2023

Total participants

147

-6.4% from 2023

Average account balance

$48,966

+22.3% from 2023

Annual return

12.17%

-5.48 pp from 2023

Benchmarks

See 10,657 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort10,657 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.86M

Not enough data

1 years with asset history on file

Average account balance

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

$49K

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.

140

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.

92.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$695K

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

+12.17%

Not enough data

1 years with return on file

Admin fee / account holder

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

$396

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
VOYA RETIREMENT INSURANCE & ANNUITY7 years Service code 27 · EIN 71-0294708	Advisory (Plan)	$38,651
NFP RETIREMENT INC1 year Service code 99 · EIN 33-0905143	Other Fees	$22,137
LBMC, PC6 years Service code 10 · EIN 62-1199757	Accounting	$11,500
401K SAFE4 years Service code 99 · EIN 83-0824803	Other Fees	$5,253

Plan features & details

Pension benefit codes2E2F2G2J2K2S3D3H

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$55K

$630 / participant

Investment mgmt$9K15.9%
Contract admin$35K62.5%
Other / not subdivided$12K21.7%

% of EOY assets

0.808%

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: LBMC, PC
Auditor EIN: 621199757
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$48,966

$58,275-16.0%

$81,844-40.2%

$80,935-39.5%

Participation rate

92.0%

63.5%+28.6pp

72.4%+19.7pp

67.7%+24.4pp

Annual return

12.17%

41.82%-29.6pp

778.87%-766.7pp

35.66%-23.5pp

Employer contribution / active EE

$3,065

$2,346+30.6%

$2,916+5.1%

$2,757+11.2%

Participant deferral / active EE

$4,830

$3,285+47.0%

$4,323+11.7%

$4,299+12.3%

Admin fee / account holder

$396

$4,749-91.7%

$7,355-94.6%

$6,924-94.3%

Provider

Service type

Compensation

VOYA RETIREMENT INSURANCE & ANNUITY7 years

Service code 27 · EIN 71-0294708

Advisory (Plan)

$38,651

NFP RETIREMENT INC1 year

Service code 99 · EIN 33-0905143

Other Fees

$22,137

LBMC, PC6 years

Service code 10 · EIN 62-1199757

Accounting

$11,500

401K SAFE4 years

Service code 99 · EIN 83-0824803

Other Fees

$5,253

BETTER BUSINESS BUREAU, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BETTER BUSINESS BUREAU, INC. 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