Retirement plan

SANTA BARBARA RESCUE MISSION 403(B) PLAN

Name: SANTA BARBARA RESCUE MISSION - SANTA BARBARA RESCUE MISSION 403(B) PLAN (2023) Form 5500
Creator: SANTA BARBARA RESCUE MISSION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SANTA BARBARA RESCUE MISSION 403(B) PLAN, SANTA BARBARA RESCUE MISSION

SANTA BARBARA RESCUE MISSIONEIN 95-6134271Plan #002PY 2023

535 E. YANONALI STREET - SANTA BARBARA, CA 93103805-966-1316sbrm.orgLinkedIn11-50 employeesnon-profit organization management

Prospect flagsLow returnsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.3M

+12.1% from 2022

Total participants

+8.3% from 2022

Average account balance

$32,084

+1.4% from 2022

Annual return

12.69%

+32.85 pp from 2022

Benchmarks

See 9,806 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort9,806 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.77M

Not enough data

1 years with asset history on file

Average account balance

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

$44K

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.

108.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$114K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+25.60%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1214

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 codes2F2G2L2M2T3D

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.
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

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.
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

$144K

$4114 / participant

Other / not subdivided$144K100.0%

% of EOY assets

10.685%

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

$32,084

$57,330-44.0%

$86,656-63.0%

$75,177-57.3%

Participation rate

71.4%

63.2%+8.2pp

71.7%-0.3pp

67.2%+4.2pp

Annual return

12.69%

2675.40%-2662.7pp

593.09%-580.4pp

160.75%-148.1pp

Employer contribution / active EE

$1,101

$2,316-52.5%

$3,025-63.6%

$2,671-58.8%

Participant deferral / active EE

$2,369

$3,320-28.7%

$4,439-46.6%

$4,126-42.6%

Admin fee / account holder

$3,428

$4,115-16.7%

$5,619-39.0%

$5,651-39.3%

SANTA BARBARA RESCUE MISSION 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SANTA BARBARA RESCUE MISSION 403(B) 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