Retirement plan

NEED CORPORATION DEFINED CONTRIBUTION 401(K) PLAN

Name: NEED CORPORATION - NEED CORPORATION DEFINED CONTRIBUTION 401(K) PLAN (2024) Form 5500
Creator: NEED CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NEED CORPORATION DEFINED CONTRIBUTION 401(K) PLAN, NEED CORPORATION

NEED CORPORATIONEIN 03-0408311Plan #002PY 2024

THE LAW AND FINANCE BUILDING, 429 4TH AVENUE, 20TH FLOOR - PITTSBURGH, PA 15219412-566-2760

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$247K

+6.6% from 2023

Total participants

+20.0% from 2023

Average account balance

$41,108

-11.2% from 2023

Annual return

8.81%

-3.40 pp from 2023

Benchmarks

See 8,071 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants<25

Cohort8,071 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$247K

Not enough data

1 years with asset history on file

Average account balance

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

$41K

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.

120.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$20K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+8.81%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4331

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 codes2E2F2G2J2T3D

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.
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

2 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.

Expense breakdown

Schedule H Part II

Admin total

$26K

$5197 / participant

Other / not subdivided$26K100.0%

% of EOY assets

10.535%

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

$41,108

$72,396-43.2%

$67,511-39.1%

$145,959-71.8%

Participation rate

100.0%

76.9%+23.1pp

72.9%+27.1pp

80.3%+19.7pp

Annual return

8.81%

7194.07%-7185.3pp

3517.41%-3508.6pp

561.95%-553.1pp

Employer contribution / active EE

$1,540

$3,071-49.9%

$2,733-43.6%

$4,661-67.0%

Participant deferral / active EE

$2,400

$4,781-49.8%

$4,000-40.0%

$6,689-64.1%

Admin fee / account holder

$4,331

$5,538-21.8%

$3,999+8.3%

$13,398-67.7%

NEED CORPORATION DEFINED CONTRIBUTION 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NEED CORPORATION DEFINED CONTRIBUTION 401(K) 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