Retirement plan

KIPP BAY AREA SCHOOLS 401(K) PLAN

Name: KIPP BAY AREA SCHOOLS - KIPP BAY AREA SCHOOLS 401(K) PLAN (2019) Form 5500
Creator: KIPP BAY AREA SCHOOLS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, KIPP BAY AREA SCHOOLS 401(K) PLAN, KIPP BAY AREA SCHOOLS

KIPP BAY AREA SCHOOLSEIN 20-5010766Plan #001PY 2019

1000 BROADWAY, SUITE 460 - OAKLAND, CA 94607510-465-5477

Prospect flagsLow assets / participantCorrective distributions

How to read this page

Total assets (EOY)

$19.2M

+29.2% from 2018

Total participants

813

+17.5% from 2018

Average account balance

$24,097

+0.5% from 2018

Annual return

8.80%

-1.39 pp from 2018

Benchmarks

See 946 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants250-999

Cohort946 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$67.26M

Not enough data

1 years with asset history on file

Average account balance

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

$46K

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.

1,476

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.

97.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$8.35M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+17.33%

Not enough data

1 years with return on file

Admin fee / account holder

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

$167

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 4 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: GREAT-WEST LIFE & ANNUITY INS. CO. Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$92,055
SAGEVIEW ADVISORY GROUP, LLC3 years Service code 27 1920 MAIN ST, STE 800 · IRVINE, CA 92614	Advisory (Plan)	$32,500
CARLSON QUINN3 years Filed as: CARLSON QUINN AND ASSOCIATES Service code 13 2000 POWELL ST, SUITE 1600 · EMERYVILLE, CA 94806	Contract Administrator	$17,250
SILICON VALLEY ACCOUNTANCY CORP4+ years Filed as: SILICON VALLEY ACCOUNTANCY CORP. Service code 10 3150 ALMADEN EXPWY, SUITE 105 · SAN JOSE, CA 95118	Accounting	$13,230

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

2 tripped

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

$144K

$243 / participant

Investment mgmt$38K26.3%
Contract admin$93K64.5%
Other / not subdivided$13K9.2%

% of EOY assets

0.749%

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: SILICON VALLEY ACCOUNTANCY CORP
Auditor EIN: 770573994
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$24,097

$95,542-74.8%

$69,483-65.3%

$67,582-64.3%

Participation rate

97.1%

79.4%+17.8pp

74.6%+22.5pp

71.3%+25.8pp

Annual return

8.80%

17.67%-8.9pp

28.99%-20.2pp

378.57%-369.8pp

Employer contribution / active EE

$2,702

$2,989-9.6%

$2,780-2.8%

$2,148+25.8%

Participant deferral / active EE

$4,279

$3,263+31.1%

$3,537+21.0%

$3,539+20.9%

Admin fee / account holder

$180

$90+100.8%

$3,841-95.3%

$142+26.8%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: GREAT-WEST LIFE & ANNUITY INS. CO.

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$92,055

SAGEVIEW ADVISORY GROUP, LLC3 years

Service code 27

1920 MAIN ST, STE 800 · IRVINE, CA 92614

Advisory (Plan)

$32,500

CARLSON QUINN3 years

Filed as: CARLSON QUINN AND ASSOCIATES

Service code 13

2000 POWELL ST, SUITE 1600 · EMERYVILLE, CA 94806

Contract Administrator

$17,250

SILICON VALLEY ACCOUNTANCY CORP4+ years

Filed as: SILICON VALLEY ACCOUNTANCY CORP.

Service code 10

3150 ALMADEN EXPWY, SUITE 105 · SAN JOSE, CA 95118

Accounting

$13,230

KIPP BAY AREA SCHOOLS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

KIPP BAY AREA SCHOOLS 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