Retirement plan

403(B) THRIFT PLAN OF UNITED WAY OF SALT LAKE

Name: UNITED WAY OF SALT LAKE - 403(B) THRIFT PLAN OF UNITED WAY OF SALT LAKE (2020) Form 5500
Creator: UNITED WAY OF SALT LAKE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 403(B) THRIFT PLAN OF UNITED WAY OF SALT LAKE, UNITED WAY OF SALT LAKE

UNITED WAY OF SALT LAKEEIN 87-0227091Plan #003PY 2020

257 EAST 200 SOUTH SUITE 300 - SALT LAKE CITY, UT 841112078801-736-7705

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$3.4M

+23.4% from 2019

Total participants

111

-5.1% from 2019

Average account balance

$33,451

+31.9% from 2019

Annual return

15.75%

-11.24 pp from 2019

Benchmarks

See 8,772 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort8,772 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.97M

Not enough data

1 years with asset history on file

Average account balance

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

$65K

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.

129.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$624K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+35.43%

Not enough data

1 years with return on file

Admin fee / account holder

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

$10789

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 codes2F2G2L2M2S2T3D

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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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

$317K

$4119 / participant

Other / not subdivided$317K100.0%

% of EOY assets

9.388%

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

$33,451

$60,119-44.4%

$90,430-63.0%

$79,858-58.1%

Participation rate

87.0%

65.0%+22.0pp

72.7%+14.3pp

69.6%+17.4pp

Annual return

15.75%

71.94%-56.2pp

1293.73%-1278.0pp

31.72%-16.0pp

Employer contribution / active EE

$2,666

$2,068+28.9%

$3,262-18.3%

$2,471+7.9%

Participant deferral / active EE

$3,788

$2,938+28.9%

$3,963-4.4%

$3,740+1.3%

Admin fee / account holder

$3,140

$3,976-21.0%

$5,613-44.1%

$5,306-40.8%

403(B) THRIFT PLAN OF UNITED WAY OF SALT LAKE

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

403(B) THRIFT PLAN OF UNITED WAY OF SALT LAKE

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