Retirement plan

ASIAN AMERICANS FOR EQUALITY, INC. 403(B) PLAN

Name: ASIAN AMERICANS FOR EQUALITY, INC. - ASIAN AMERICANS FOR EQUALITY, INC. 403(B) PLAN (2024) Form 5500
Creator: ASIAN AMERICANS FOR EQUALITY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ASIAN AMERICANS FOR EQUALITY, INC. 403(B) PLAN, ASIAN AMERICANS FOR EQUALITY, INC.

ASIAN AMERICANS FOR EQUALITY, INC.EIN 13-3187792Plan #001PY 2024

2 ALLEN STREET, 7TH FLOOR - NEW YORK, NY 10002212-964-2288aafe.orgLinkedIn51-200 employeesnon-profit organization management

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$6.9M

+31.3% from 2023

Total participants

261

+10.1% from 2023

Average account balance

$27,304

+19.4% from 2023

Annual return

11.87%

-15.05 pp from 2023

Benchmarks

See 1,090 peers

Peer group

Industry53 - Real Estate and Rental and Leasing

Plan typeDefined contribution

Participants100-249

Cohort1,090 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.94M

Not enough data

1 years with asset history on file

Average account balance

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

$27K

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.

254

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.

95.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.29M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+11.87%

Not enough data

1 years with return on file

Admin fee / account holder

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

$353

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

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

Service providers

Top 3 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY8 years Filed as: PRINCIPAL LIFE INSURANCE CO. Service code 13 · EIN 42-0127290	Contract Administrator	$89,536
PRINCIPAL LIFE INSURANCE COMPANY6 years Filed as: PRINCIPAL SECURITIES INC. Service code 49 · EIN 42-0941553	Other Services	$27,422
WILSHIRE ASSOCIATES INCORPORATED3 years Filed as: WILSHIRE ADVISORS LLC Service code 27 · EIN 95-2755361	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2L2K2F2G

Plan features

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.
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.
2L
Code section 403(b)(1) arrangement
Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$90K

$640 / participant

Contract admin$90K100.0%

% of EOY assets

1.291%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CBIZ CPAS P.C
Auditor EIN: 431947695
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$27,304

$73,532-62.9%

$178,540-84.7%

$74,459-63.3%

Participation rate

95.0%

66.6%+28.4pp

77.1%+17.9pp

67.2%+27.8pp

Annual return

11.87%

17.51%-5.6pp

27.15%-15.3pp

1369.70%-1357.8pp

Employer contribution / active EE

$2,620

$2,221+18.0%

$3,953-33.7%

$2,626-0.2%

Participant deferral / active EE

$6,580

$4,519+45.6%

$6,281+4.8%

$4,350+51.3%

Admin fee / account holder

$353

$1,813-80.6%

$10,424-96.6%

$1,945-81.9%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY8 years

Filed as: PRINCIPAL LIFE INSURANCE CO.

Service code 13 · EIN 42-0127290

Contract Administrator

$89,536

PRINCIPAL LIFE INSURANCE COMPANY6 years

Filed as: PRINCIPAL SECURITIES INC.

Service code 49 · EIN 42-0941553

Other Services

$27,422

WILSHIRE ASSOCIATES INCORPORATED3 years

Filed as: WILSHIRE ADVISORS LLC

Service code 27 · EIN 95-2755361

Advisory (Plan)

ASIAN AMERICANS FOR EQUALITY, INC. 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ASIAN AMERICANS FOR EQUALITY, INC. 403(B) 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