Retirement plan

NEW YORK FILM ACADEMY, LTD 401(K) PROFIT SHARING PLAN AND TRUST

Name: NEW YORK FILM ACADEMY, LTD. - NEW YORK FILM ACADEMY, LTD 401(K) PROFIT SHARING PLAN AND TRUST (2017) Form 5500
Creator: NEW YORK FILM ACADEMY, LTD.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NEW YORK FILM ACADEMY, LTD 401(K) PROFIT SHARING PLAN AND TRUST, NEW YORK FILM ACADEMY, LTD.

NEW YORK FILM ACADEMY, LTD.EIN 13-3723331Plan #001PY 2017

17 BATTERY PL FL 5 - NEW YORK, NY 100041179818-333-3558nyfa.eduLinkedIn501-1000 employeesmotion pictures and film

Prospect flagsLow participationLow assets / participantLow fidelity bondFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$3.8M

+194.4% from 2016

Total participants

1,215

+2.2% from 2016

Average account balance

$10,654

+86.7% from 2016

Annual return

66.42%

-45.59 pp from 2016

Benchmarks

See 217 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants1,000-4,999

Cohort217 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$15.81M

Not enough data

1 years with asset history on file

Average account balance

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

$35K

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.

455

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.

27.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.06M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$974

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

+12.15%

Not enough data

1 years with return on file

Admin fee / account holder

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

$205

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 4 by compensation

Provider	Service type	Compensation
JOHN HANCOCK LIFE INSURANCE COMPANY2 years Filed as: JOHN HANCOCK NEW YORK Service code 15 · EIN 13-3646501	Recordkeeping	$30,919
KESTRA INVESTMENT SERVICES LLC1 year Filed as: KESTRA INVESTMENT SERVICES, LLC Service code 22	Insurance Broker	$9,109
TRANSAMERICA RETIREMENT SOLUTIONS1 year Service code 12 · EIN 13-3689044	Recordkeeping fees; Distribution (12b...	$2,183
KESTRA INVESTMENT SERVICES LLC1 year Service code 22 · EIN 74-2794194	Insurance Broker	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.
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

5 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$35K

$30 / participant

Investment mgmt$11K32.7%
Contract admin$2K5.2%
Other / not subdivided$22K62.2%

% of EOY assets

0.905%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: PENSION ASSURANCE LLP
Auditor EIN: 300840934
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$10,654

$41,256-74.2%

$86,582-87.7%

$77,958-86.3%

Participation rate

27.3%

63.0%-35.7pp

73.5%-46.2pp

71.6%-44.3pp

Annual return

66.42%

17.67%+48.8pp

965.08%-898.7pp

20.87%+45.6pp

Employer contribution / active EE

$523

$1,613-67.6%

$2,839-81.6%

$2,310-77.4%

Participant deferral / active EE

$970

$2,332-58.4%

$3,609-73.1%

$3,537-72.6%

Admin fee / account holder

$96

$71+36.2%

$4,904-98.0%

$97-1.0%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY2 years

Filed as: JOHN HANCOCK NEW YORK

Service code 15 · EIN 13-3646501

Recordkeeping

$30,919

KESTRA INVESTMENT SERVICES LLC1 year

Filed as: KESTRA INVESTMENT SERVICES, LLC

Service code 22

Insurance Broker

$9,109

TRANSAMERICA RETIREMENT SOLUTIONS1 year

Service code 12 · EIN 13-3689044

Recordkeeping fees; Distribution (12b...

$2,183

KESTRA INVESTMENT SERVICES LLC1 year

Service code 22 · EIN 74-2794194

Insurance Broker

NEW YORK FILM ACADEMY, LTD 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NEW YORK FILM ACADEMY, LTD 401(K) PROFIT SHARING PLAN AND TRUST

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