Retirement plan

CHILDREN'S LEARNING CENTERS OF FAIRFIELD COUNTY, INC. 401(K) PLAN

Name: CHILDREN'S LEARNING CENTERS OF FAIRFIELD COUNTY, INC. - CHILDREN'S LEARNING CENTERS OF FAIRFIELD COUNTY, INC. 401(K) PLAN (2023) Form 5500
Creator: CHILDREN'S LEARNING CENTERS OF FAIRFIELD COUNTY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CHILDREN'S LEARNING CENTERS OF FAIRFIELD COUNTY, INC. 401(K) PLAN, CHILDREN'S LEARNING CENTERS OF FAIRFIELD COUNTY, INC.

CHILDREN'S LEARNING CENTERS OF FAIRFIELD COUNTY, INC.EIN 06-0665191Plan #002PY 2023

64 PALMERS HILL RD. - STAMFORD, CT 06902203-653-1325clcfc.orgLinkedIn51-200 employeesnon-profit organization management

Prospect flagsCorrective distributions

How to read this page

Total assets (EOY)

$8.4M

+16.8% from 2022

Total participants

295

+2.1% from 2022

Average account balance

$30,092

+9.7% from 2022

Annual return

15.82%

+33.92 pp from 2022

Benchmarks

See 5,719 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,719 peers

Snapshot2023

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$10.53M

Not enough data

1 years with asset history on file

Average account balance

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

$37K

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.

284

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.

90.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$788K

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

+16.17%

Not enough data

1 years with return on file

Admin fee / account holder

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

$298

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

1 years with F_SCH_H allocation on file

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
MERRILL LYNCH PIERCE FENNER & SMITH9+ years Filed as: MERRILL LYNCH PIERCE FENNER SMITH Service code 28 · EIN 13-5674085 1400 AMERICAN BLVD BLDG #4 · PENNINGTON, NJ 08534	Investment Management	$17,980
THE BENEFIT PRACTICE9+ years Service code 15 · EIN 13-4144565 1055 WASHINGTON BLVD STE 610 · STAMFORD, CT 06901	Recordkeeping	$15,464
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$3,625

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

1 tripped

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$33K

$178 / participant

Contract admin$33K100.0%

% of EOY assets

0.396%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: CIRONEFRIEDBERG, LLP
Auditor EIN: 061533315
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$30,092

$61,272-50.9%

$149,673-79.9%

$71,457-57.9%

Participation rate

92.0%

62.5%+29.5pp

78.8%+13.3pp

67.9%+24.1pp

Annual return

15.82%

35.85%-20.0pp

134.42%-118.6pp

28.85%-13.0pp

Employer contribution / active EE

$1,595

$2,378-32.9%

$4,818-66.9%

$2,588-38.3%

Participant deferral / active EE

$2,658

$2,917-8.9%

$5,680-53.2%

$4,289-38.0%

Admin fee / account holder

$119

$1,261-90.5%

$13,210-99.1%

$1,587-92.5%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH9+ years

Filed as: MERRILL LYNCH PIERCE FENNER SMITH

Service code 28 · EIN 13-5674085

1400 AMERICAN BLVD BLDG #4 · PENNINGTON, NJ 08534

Investment Management

$17,980

THE BENEFIT PRACTICE9+ years

Service code 15 · EIN 13-4144565

1055 WASHINGTON BLVD STE 610 · STAMFORD, CT 06901

Recordkeeping

$15,464

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$3,625

CHILDREN'S LEARNING CENTERS OF FAIRFIELD COUNTY, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CHILDREN'S LEARNING CENTERS OF FAIRFIELD COUNTY, INC. 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