Retirement plan

DESERET MUTUAL PUERTO RICO THRIFT PLAN

Name: DESERET MUTUAL BENEFIT ADMINISTRATORS - DESERET MUTUAL PUERTO RICO THRIFT PLAN (2024) Form 5500
Creator: DESERET MUTUAL BENEFIT ADMINISTRATORS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, DESERET MUTUAL PUERTO RICO THRIFT PLAN, DESERET MUTUAL BENEFIT ADMINISTRATORS

DESERET MUTUAL BENEFIT ADMINISTRATORSEIN 87-0440163Plan #005PY 2024

P.O. BOX 45530 - SALT LAKE CITY, UT 84145801-578-5600dmba.comLinkedIn201-500 employeesfinancial services

Other plans on this EIN

2 filings

#001Retirement-$7.07B assets #003Retirement-$6.15B assets

Prospect flagsHigh retiree %High feesLow participant contribution

How to read this page

Total assets (EOY)

$1.8M

+18.7% from 2023

Total participants

+11.5% from 2023

Average account balance

$63,508

+10.2% from 2023

Annual return

11.51%

-2.72 pp from 2023

Benchmarks

See 37,126 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort37,126 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.78M

Not enough data

1 years with asset history on file

Average account balance

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

$64K

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.

94.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$154K

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

+11.51%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1710

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 codes2E2F2G2S2T3H

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.
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.
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

3 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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

$48K

$2519 / participant

Other / not subdivided$48K100.0%

% of EOY assets

2.692%

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

$63,508

$201,344-68.5%

$184,243-65.5%

$145,877-56.5%

Participation rate

94.7%

87.5%+7.2pp

86.8%+7.9pp

80.3%+14.4pp

Annual return

11.51%

29.01%-17.5pp

28.82%-17.3pp

551.28%-539.8pp

Employer contribution / active EE

$5,640

$7,022-19.7%

$6,427-12.2%

$4,663+20.9%

Participant deferral / active EE

$2,490

$9,807-74.6%

$9,132-72.7%

$6,691-62.8%

Admin fee / account holder

$1,710

$16,382-89.6%

$13,914-87.7%

$13,402-87.2%

DESERET MUTUAL PUERTO RICO THRIFT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

DESERET MUTUAL PUERTO RICO THRIFT 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