Retirement plan

EDUCATION AFFILIATES, INC. 401(K) PLAN

Name: EDUCATION AFFILIATES, INC. - EDUCATION AFFILIATES, INC. 401(K) PLAN (2024) Form 5500
Creator: EDUCATION AFFILIATES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, EDUCATION AFFILIATES, INC. 401(K) PLAN, EDUCATION AFFILIATES, INC.

EDUCATION AFFILIATES, INC.EIN 20-1720350Plan #001PY 2024

5026-D CAMPBELL ROAD - BALTIMORE, MD 21236410-633-2929

Prospect flagsLow assets / participantLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$46.7M

+7.9% from 2023

Total participants

1,980

+2.9% from 2023

Average account balance

$25,322

-89.3% from 2023

Annual return

12.31%

-6.59 pp from 2023

Benchmarks

See 308 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort308 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$46.67M

Not enough data

1 years with asset history on file

Average account balance

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

$25K

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.

1,843

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.

91.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$5.80M

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

+12.31%

Not enough data

1 years with return on file

Admin fee / account holder

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

$158

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 5 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY4 years Service code 13 · EIN 42-0127290	Contract Administrator	$153,459
ORENDA RETIREMENT, LLC2 years Filed as: ORENDA RETIREMENT LLC Service code 13 · EIN 36-4877979	Contract Administrator	$96,322
GREENSPRING ADVISORS, LLC4 years Filed as: GREENSPRING ADVISORS Service code 27 · EIN 82-5320133	Advisory (Plan)	$40,210
ALMICH & ASSOCIATES1 year Filed as: AMICH & ASSOCIATES Service code 10 · EIN 33-0526284	Accounting	$23,000
MORNINGSTAR2 years Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L Service code 26 · EIN 36-4317381	Advisory (Participants)	$0

Plan features & details

Pension benefit codes2S2E2J2K2F2G3D2T

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

3 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$292K

$188 / participant

Investment mgmt$40K13.8%
Contract admin$229K78.4%
Other / not subdivided$23K7.9%

% of EOY assets

0.626%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: ALMICH & ASSOCIATES
Auditor EIN: 330526284
Audit fees: $23,000
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$25,322

$113,568-77.7%

$67,560-62.5%

$200,096-87.3%

Participation rate

91.2%

73.3%+17.8pp

72.9%+18.2pp

72.0%+19.2pp

Annual return

12.31%

15.88%-3.6pp

3533.50%-3521.2pp

34.26%-22.0pp

Employer contribution / active EE

$994

$3,409-70.8%

$2,737-63.7%

$3,038-67.3%

Participant deferral / active EE

$2,743

$4,163-34.1%

$4,004-31.5%

$5,090-46.1%

Admin fee / account holder

$158

$102+54.7%

$3,994-96.0%

$269-41.2%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY4 years

Service code 13 · EIN 42-0127290

Contract Administrator

$153,459

ORENDA RETIREMENT, LLC2 years

Filed as: ORENDA RETIREMENT LLC

Service code 13 · EIN 36-4877979

Contract Administrator

$96,322

GREENSPRING ADVISORS, LLC4 years

Filed as: GREENSPRING ADVISORS

Service code 27 · EIN 82-5320133

Advisory (Plan)

$40,210

ALMICH & ASSOCIATES1 year

Filed as: AMICH & ASSOCIATES

Service code 10 · EIN 33-0526284

Accounting

$23,000

MORNINGSTAR2 years

Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L

Service code 26 · EIN 36-4317381

Advisory (Participants)

EDUCATION AFFILIATES, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

EDUCATION AFFILIATES, 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