Retirement plan

BECOMING INDEPENDENT 403(B) RETIREMENT PLAN

Name: BECOMING INDEPENDENT - BECOMING INDEPENDENT 403(B) RETIREMENT PLAN (2020) Form 5500
Creator: BECOMING INDEPENDENT
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BECOMING INDEPENDENT 403(B) RETIREMENT PLAN, BECOMING INDEPENDENT

BECOMING INDEPENDENTEIN 94-2641147Plan #001PY 2020

1425 CORPORATE CENTER PARKWAY - SANTA ROSA, CA 95407602-790-8424becomingindependent.orgLinkedIn51-200 employeesnon-profit organization management

Prospect flagsLow returnsLow participationCorrective distributions

How to read this page

Total assets (EOY)

$1.1M

+17.6% from 2019

Total participants

205

-12.0% from 2019

Average account balance

$17,477

+43.3% from 2019

Annual return

5.63%

-0.81 pp from 2019

Benchmarks

See 5,415 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,415 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.55M

Not enough data

1 years with asset history on file

Average account balance

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

$33K

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.

50.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$328K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+13.19%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1749

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

Top 4 by compensation

Provider	Service type	Compensation
KARP CAPITAL MANAGEMENT1 year Service code 27 2269 CHESTNUT ST STE 308 · SAN FRANCISCO, CA 94123	Advisory (Plan)	$3,383
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$2,669
MASSACHUSETTS MUTUAL LIFE INS. CO.5+ years Filed as: MASSMUTUAL LIFE INSURANCE COMPANY Service code 52 · EIN 04-1590850	Indirect Investment Fees	$2,105
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: ADVISED ASSETS GROUP Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$182

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.
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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$8K

$43 / participant

Investment mgmt$4K42.8%
Contract admin$5K57.2%

% of EOY assets

0.746%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: GORANSON AND ASSOCIATES, INC.
Auditor EIN: 455565460
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$17,477

$58,888-70.3%

$178,498-90.2%

$73,493-76.2%

Participation rate

27.3%

66.2%-38.9pp

81.9%-54.6pp

70.7%-43.4pp

Annual return

5.63%

24.86%-19.2pp

151.09%-145.5pp

28.51%-22.9pp

Employer contribution / active EE

$485

$2,236-78.3%

$5,011-90.3%

$2,270-78.6%

Participant deferral / active EE

$1,128

$2,568-56.1%

$5,202-78.3%

$3,740-69.8%

Admin fee / account holder

$130

$400-67.4%

$13,985-99.1%

$513-74.6%

Provider

Service type

Compensation

KARP CAPITAL MANAGEMENT1 year

Service code 27

2269 CHESTNUT ST STE 308 · SAN FRANCISCO, CA 94123

Advisory (Plan)

$3,383

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$2,669

MASSACHUSETTS MUTUAL LIFE INS. CO.5+ years

Filed as: MASSMUTUAL LIFE INSURANCE COMPANY

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$2,105

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: ADVISED ASSETS GROUP

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$182

BECOMING INDEPENDENT 403(B) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BECOMING INDEPENDENT 403(B) RETIREMENT 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