Department of Labor filing

BECOMING INDEPENDENT

BECOMING INDEPENDENT 403(B) RETIREMENT PLAN · For the plan year ended Jun 30, 2023

Public filing 2022 · received Feb 20, 2024Verified current terms Not available

Plan at a glance

How good does the filing look?

25filing comparison
out of 100

The filing trails many comparable plans on reported employer support and/or plan-paid administrative costs. This is a filing comparison, not a complete benefits score.

$Employer support

$531

Reported employer contributions per active participant.

Higher than about 26% of comparable plans

#People in the filing

155

Active participants reported for 2022.

The filing does not say how many employees are currently contributing.

¢Visible plan-paid fees

$135 / participant

Reported administrative expense—not every fee an employee may pay.

Lower cost than about 24% of comparable plans

↗Investment performance

Not available

Plan assets changed 18.8%, but that includes contributions, withdrawals, and market movement.

Asset change is not investment performance.

What we still need to judge the benefit

Current match formula, vesting, eligibility, investment choices, fund expense ratios, and employee-level fees.

See missing terms ↓

Filing comparison · 202225out of 100 among similar-size plans in the same industry when enough peers exist

How this filing compares

Reported employer contributions26th percentileTypical peer $970 · based on 940 comparable plans

Lower reported administrative expense24th percentileTypical peer $58 · based on 977 comparable plans

This comparison uses historical filing figures. It does not compare current match formulas, vesting, investments, or employee fees.

The short version

What the latest filing tells us

For the plan year ended Jun 30, 2023, BECOMING INDEPENDENT reported $82,323 in employer contributions across the plan and 155 active participants. That works out to $531 per active participant. It is useful context, but it is not the current match formula and it does not show what any one employee received.

Participation proxy87%

Active participants divided by all end-of-year plan participants. This is not the company participation rate because the filing does not report every eligible employee.

Employer money trendUp 0.0%

Change in reported employer contribution per active participant across the filing history shown.

Expense trendUp 0.0%

Change in reported administrative expense per participant. Investment expenses may not be included.

Peer context25/100

A filing comparison among similar-size plans in the same industry when enough peers exist.

Where the public filing stops

Current match, vesting, eligibility, employee fees, and investment choices require a dated plan document. Until we have one, those details stay blank.

Latest financial record

Contributions, assets, and expenses

These figures are reported totals for the plan—not individual account balances or promises to any employee.

Employer contributions: $82,323
Participant contributions: $245,774
Other contributions: $0
Employer share of reported contributions: 25.1%
Beginning assets: $1,751,756
Ending assets: $2,080,328
Ending net assets: $2,080,328
Ending liabilities: $0
Total income: $526,377
Total expenses: $197,805
Administrative expenses: $21,391
Participant loans: $39,818

Three-year filing history

How the reported figures changed

Each chart uses its own scale and starts at zero. When the filing has no value, the chart says so rather than turning it into a zero.

Employer contributions reported per active participant

2022

$531

Plan-paid administrative expenses per participant

2022

$135

Active participants

2022

155

Detailed filing history
Plan year	Per active participant	Active participants	Plan assets	Filing ID
2022	$531	155	2.1M	20240220152207NAL0000658979001

Changes in plan assets are not the same as investment performance. Each row uses the selected public filing for that year.

Plan operations

Details worth knowing

Participant loans as a share of plan assets: 1.9%
Independent accountant’s opinion: Unqualified opinion Code 1
Late participant contributions reported: Yes
Public plan identifier: 942641147-001

Reported plan details

Identity and filing status

Plan type: Retirement plan
Employer arrangement: Single-employer plan
Plan effective date: Jul 15, 2015
Industry: Health care and social assistance
Amended filing: No
Final filing for this plan: No
Short plan year: No
401(k) feature reported: Yes
Show DOL characteristic codes
2E2F2G2J2T3D

Current plan terms

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Filing ACK_ID20240220152207NAL0000658979001

Data sourceDOL Form 5500 bulk data ↗

Filing searchEFAST2 ↗