Retirement plan

ARIZONA TECHNOLOGY COUNCIL MULTIPLE EMPLOYER 401(K) PLAN

Name: ARIZONA TECHNOLOGY COUNCIL - ARIZONA TECHNOLOGY COUNCIL MULTIPLE EMPLOYER 401(K) PLAN (2022) Form 5500
Creator: ARIZONA TECHNOLOGY COUNCIL
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ARIZONA TECHNOLOGY COUNCIL MULTIPLE EMPLOYER 401(K) PLAN, ARIZONA TECHNOLOGY COUNCIL

ARIZONA TECHNOLOGY COUNCILEIN 86-0684848Plan #002PY 2022

2800 N. CENTRAL AVE, SUITE 1530 - PHOENIX, AZ 85255602-343-8324aztechcouncil.orgLinkedIn11-50 employeesnon-profit organization management

Prospect flagsHigh retiree %Low returnsHigh feesLow participation

How to read this page

Total assets (EOY)

$4.8M

-34.7% from 2021

Total participants

222

-31.5% from 2021

Average account balance

$28,712

-23.0% from 2021

Annual return

-38.15%

-3.13 pp from 2021

Benchmarks

See 1,744 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants100-249

Cohort1,744 peers

Snapshot2022

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$7.10M

Not enough data

1 years with asset history on file

Average account balance

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

$43K

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.

165

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.

80.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.23M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+12.31%

Not enough data

1 years with return on file

Admin fee / account holder

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

$460

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 5 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.3+ years Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 52 · EIN 04-1590850	Indirect Investment Fees	$36,805
UBS FINANCIAL SERVICES INC2 years Filed as: UBS FINANCIAL SERVICES, INC. Service code 27 · EIN 13-2638166	Advisory (Plan)	$13,063
NOVA 401(K) ASSOCIATES2 years Service code 13 · EIN 20-1181458	Contract Administrator	$10,018
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 · EIN 84-0467907	Recordkeeping Fees	$6,294
METZ & ASSOCIATES PLLC2 years Service code 10 · EIN 46-4558541	Accounting	$5,500

Plan features & details

Pension benefit codes2E2G2J2K2S2T3B3D2F2U

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.
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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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.
InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

Expense breakdown

Schedule H Part II

Admin total

$64K

$408 / participant

Contract admin$64K100.0%

% of EOY assets

1.328%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: METZ & ASSOCIATES
Auditor EIN: 464558541
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$28,712

$51,197-43.9%

$82,719-65.3%

$66,914-57.1%

Participation rate

64.7%

67.8%-3.1pp

72.6%-7.8pp

69.8%-5.1pp

Annual return

-38.15%

-9.64%-28.5pp

701.18%-739.3pp

1.58%-39.7pp

Employer contribution / active EE

$1,535

$2,611-41.2%

$3,009-49.0%

$2,544-39.6%

Participant deferral / active EE

$4,963

$3,458+43.5%

$4,395+12.9%

$4,237+17.1%

Admin fee / account holder

$381

$416-8.2%

$5,329-92.8%

$593-35.7%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.3+ years

Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$36,805

UBS FINANCIAL SERVICES INC2 years

Filed as: UBS FINANCIAL SERVICES, INC.

Service code 27 · EIN 13-2638166

Advisory (Plan)

$13,063

NOVA 401(K) ASSOCIATES2 years

Service code 13 · EIN 20-1181458

Contract Administrator

$10,018

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64 · EIN 84-0467907

Recordkeeping Fees

$6,294

METZ & ASSOCIATES PLLC2 years

Service code 10 · EIN 46-4558541

Accounting

$5,500

ARIZONA TECHNOLOGY COUNCIL MULTIPLE EMPLOYER 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ARIZONA TECHNOLOGY COUNCIL MULTIPLE EMPLOYER 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