Retirement plan

NEED CORPORATION DEFINED CONTRIBUTION 401(K) PLAN

Name: NEED CORPORATION - NEED CORPORATION DEFINED CONTRIBUTION 401(K) PLAN (2021) 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 2021

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)

$209K

-0.7% from 2020

Total participants

-16.7% from 2020

Average account balance

$41,739

+19.2% from 2020

Annual return

7.80%

-6.80 pp from 2020

Benchmarks

See 6,468 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants<25

Cohort6,468 peers

Snapshot2021

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

$28K

$9455 / participant

Other / not subdivided$28K100.0%

% of EOY assets

13.592%

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

$41,739

$84,741-50.7%

$75,731-44.9%

$167,553-75.1%

Participation rate

100.0%

77.8%+22.2pp

74.8%+25.2pp

82.1%+17.9pp

Annual return

7.80%

199.72%-191.9pp

104.65%-96.9pp

478.89%-471.1pp

Employer contribution / active EE

$3,230-100.0%

$2,743-100.0%

$4,840-100.0%

Participant deferral / active EE

$3,400

$4,577-25.7%

$3,820-11.0%

$6,343-46.4%

Admin fee / account holder

$5,673

$5,361+5.8%

$3,620+56.7%

$12,316-53.9%

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