Retirement plan

LITERACY, INC. 403(B) TDA PLAN

Name: LITERACY, INC. - LITERACY, INC. 403(B) TDA PLAN (2023) Form 5500
Creator: LITERACY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LITERACY, INC. 403(B) TDA PLAN, LITERACY, INC.

LITERACY, INC.EIN 13-3911331Plan #001PY 2023

5030 BROADWAY, STE 641 - NEW YORK, NY 10034212-620-5462

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.9M

+33.0% from 2022

Total participants

-11.4% from 2022

Average account balance

$27,437

+54.5% from 2022

Annual return

19.51%

+34.23 pp from 2022

Benchmarks

See 9,806 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort9,806 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.37M

Not enough data

1 years with asset history on file

Average account balance

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

$34K

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.

145.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$249K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+16.35%

Not enough data

1 years with return on file

Admin fee / account holder

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

$839

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 codes2F2G2L2M2S2T3D

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.
2L
Code section 403(b)(1) arrangement
Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$44K

$964 / participant

Other / not subdivided$44K100.0%

% of EOY assets

2.378%

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

$27,437

$57,330-52.1%

$86,656-68.3%

$75,177-63.5%

Participation rate

95.7%

63.2%+32.5pp

71.7%+23.9pp

67.2%+28.4pp

Annual return

19.51%

2675.40%-2655.9pp

593.09%-573.6pp

160.75%-141.2pp

Employer contribution / active EE

$1,231

$2,316-46.9%

$3,025-59.3%

$2,671-53.9%

Participant deferral / active EE

$3,852

$3,320+16.0%

$4,439-13.2%

$4,126-6.7%

Admin fee / account holder

$652

$4,115-84.1%

$5,619-88.4%

$5,651-88.5%

LITERACY, INC. 403(B) TDA PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LITERACY, INC. 403(B) TDA 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