Retirement plan

THE INSTITUTE OF CULINARY EDUCATION 401K PLAN

Name: THE INSTITUTE OF CULINARY EDU. - THE INSTITUTE OF CULINARY EDUCATION 401K PLAN (2020) Form 5500
Creator: THE INSTITUTE OF CULINARY EDU.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE INSTITUTE OF CULINARY EDUCATION 401K PLAN, THE INSTITUTE OF CULINARY EDU.

THE INSTITUTE OF CULINARY EDU.EIN 13-3847478Plan #001PY 2020

225 LIBERTY STREET 3RD FLOOR - NEW YORK, NY 10281212-847-0758ice.eduLinkedIn51-200 employeesfood & beverages

Prospect flagsLow participationLow participant contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$4.8M

+16.6% from 2019

Total participants

218

+5.3% from 2019

Average account balance

$69,060

+11.6% from 2019

Annual return

14.67%

-4.10 pp from 2019

Benchmarks

See 1,462 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants100-249

Cohort1,462 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.86M

Not enough data

1 years with asset history on file

Average account balance

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

$22K

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.

219

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.

66.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$570K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+12.72%

Not enough data

1 years with return on file

Admin fee / account holder

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

$135

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 10 of 11 by compensation

Provider	Service type	Compensation
COMMONWEALTH FINANCIAL NETWORK6+ years Service code 26 · EIN 04-2675571	Advisory (Participants)	$12,003
MASSACHUSETTS MUTUAL LIFE INS. CO.3 years Service code 52 · EIN 04-1590850	Indirect Investment Fees	$11,313
AMERICAN FUNDS4 years Service code 52 · EIN 95-1411037	Indirect Investment Fees	$0
BARON4 years Service code 52 · EIN 13-6891420	Indirect Investment Fees	$0
BLACKROCK3 years Service code 52 · EIN 13-3806694	Indirect Investment Fees	$0
COLUMBIA4 years Service code 52 · EIN 94-1687665	Indirect Investment Fees	$0
FRANKLIN TEMPLETON2 years Filed as: FRANKLINTEMPLETON Service code 52 · EIN 59-6865210	Indirect Investment Fees	$0
INVESCO4 years Service code 52 · EIN 93-6305075	Indirect Investment Fees	$0
MORGAN STANLEY SMITH BARNEY4 years Filed as: JP MORGAN Service code 52 · EIN 33-1043149	Indirect Investment Fees	$0
MFS INVESTMENT MANAGEMENT4 years Service code 52 · EIN 04-3158862	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2J2F2G2K2T

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.

Opportunity flags

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
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

$11K

$57 / participant

Contract admin$11K100.0%

% of EOY assets

0.234%

all-in expense ratio

Categories reported

1 / 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: MCCLINTOCK & ASSOCIATES, P.C.
Auditor EIN: 251701013
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$69,060

$65,322+5.7%

$70,476-2.0%

$73,493-6.0%

Participation rate

24.9%

77.0%-52.1pp

75.1%-50.2pp

70.7%-45.8pp

Annual return

14.67%

15.71%-1.0pp

109.12%-94.4pp

28.51%-13.8pp

Employer contribution / active EE

$2,460-100.0%

$2,738-100.0%

$2,270-100.0%

Participant deferral / active EE

$1,037

$3,375-69.3%

$3,710-72.0%

$3,740-72.3%

Admin fee / account holder

$162

$214-24.5%

$3,847-95.8%

$513-68.5%

Provider

Service type

Compensation

COMMONWEALTH FINANCIAL NETWORK6+ years

Service code 26 · EIN 04-2675571

Advisory (Participants)

$12,003

MASSACHUSETTS MUTUAL LIFE INS. CO.3 years

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$11,313

AMERICAN FUNDS4 years

Service code 52 · EIN 95-1411037

Indirect Investment Fees

BARON4 years

Service code 52 · EIN 13-6891420

Indirect Investment Fees

BLACKROCK3 years

Service code 52 · EIN 13-3806694

Indirect Investment Fees

COLUMBIA4 years

Service code 52 · EIN 94-1687665

Indirect Investment Fees

FRANKLIN TEMPLETON2 years

Filed as: FRANKLINTEMPLETON

Service code 52 · EIN 59-6865210

Indirect Investment Fees

INVESCO4 years

Service code 52 · EIN 93-6305075

Indirect Investment Fees

MORGAN STANLEY SMITH BARNEY4 years

Filed as: JP MORGAN

Service code 52 · EIN 33-1043149

Indirect Investment Fees

MFS INVESTMENT MANAGEMENT4 years

Service code 52 · EIN 04-3158862

Indirect Investment Fees

THE INSTITUTE OF CULINARY EDUCATION 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE INSTITUTE OF CULINARY EDUCATION 401K 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