What are the fees in the Skills, Inc. 403(b) plan?

For plan year 2022, Skills, Inc. reported $20,650 in plan administrative expenses, or 1.12% of average plan assets — higher than ~90% of peers. Fund-level expense ratios are not included in public filings.

How much does Skills, Inc. contribute to its 403(b)?

In 2022, employer contributions to the Skills, Inc. plan averaged $704 per active participant, below the $1,114 median for plans of similar size. Public filings report contribution dollars, not the match formula; the formula is in the plan's summary plan description.

What is the average account balance in the Skills, Inc. 401(k)?

The average participant account balance was $19,979 for plan year 2022, based on 77 accounts.

Skills, Inc.403(b)

Name: Skills, Inc. 401(k) plan: Form 5500 data
Creator: U.S. Department of Labor

SKILLS, INC. 403(B) RETIREMENT PLAN · SAINT ALBANS, ME · plan year 2022

Reported admin expense ratio · 2022

1.12%

Peer grade: C · admin costs + employer contributions vs same-size plans · how grading works

Skills, Inc. reported $20,650 in plan administrative expenses for 2022: 1.12% of average plan assets, higher than ~90% of peers. Employer contributions averaged $704 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.

The plan sits in the $1M–$10M size bracket, benchmarked here against 30,021 comparable plans and shown alongside other health care & social assistance employers. By assets it is among the smaller plans on file in Maine (324th of 354), and 10,437th of 11,911 in health care & social assistance. In 2022, employees put in $1.42 for every $1.00 the employer contributed.

Plan summary
Net assets, end of year$1,538,353
Participants with balances77
Active participants114
Employer contributions$80,277
Employee contributions$114,381
Employer contribution per active participant$704
Average account balance$19,979
Benefits paid to participants$517,500
Plan auditUnmodified (clean) audit opinion
AuditorONE RIVER CPAS

Administrative expenses, itemized · 2022

Recordkeeping & contract admin$20,650

Total administrative$20,650

Employer contributions to the Skills, Inc. plan · 2022

Employer contribution per active participant$704

Median for plans this size$1,114

Skills, Inc.'s 2022 employer contribution ran below the $1,114 median for plans its size. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.

What these fees cost you

Your balance

Annual cost at the plan's reported 2022 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.

Administrative cost history1

2022$20,650 · 1.12%

Same employer

Skills, Inc.'s health & benefits plan: carriers, premiums & broker pay

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Source: U.S. Department of Labor, Form 5500 series, EIN 010272879 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.