Retirement plan

SCHOOLWORKS 401(K) PLAN

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

SCHOOLWORKS LLCEIN 04-3427693Plan #001PY 2024

208 COLLEGE HIGHWAY, BOX 7 - SOUTHWICK, MA 01077978-921-1674schoolworks.orgLinkedIn51-200 employeeseducation management

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$2.6M

+28.4% from 2023

Total participants

+11.4% from 2023

Average account balance

$70,445

+21.5% from 2023

Annual return

15.72%

-3.50 pp from 2023

Benchmarks

See 4,485 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants25-99

Cohort4,485 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.18M

Not enough data

1 years with asset history on file

Average account balance

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

$91K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$277K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+16.79%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4210

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 codes2E2F2G2J2R2T3B3D

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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.)
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

$57K

$2280 / participant

Other / not subdivided$57K100.0%

% of EOY assets

2.187%

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

$70,445

$48,284+45.9%

$67,524+4.3%

$80,911-12.9%

Participation rate

92.0%

66.4%+25.6pp

72.9%+19.1pp

67.6%+24.4pp

Annual return

15.72%

18.27%-2.5pp

3519.41%-3503.7pp

35.63%-19.9pp

Employer contribution / active EE

$3,617

$2,021+78.9%

$2,734+32.3%

$2,756+31.2%

Participant deferral / active EE

$8,881

$2,927+203.5%

$4,001+121.9%

$4,297+106.7%

Admin fee / account holder

$1,541

$3,688-58.2%

$4,001-61.5%

$6,935-77.8%

SCHOOLWORKS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SCHOOLWORKS 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