Retirement plan

EMPIRE STATE MERIT APPRENTICESHIP ALLIANCE, INC. 401(K) RETIREMENT PLAN

Name: EMPIRE STATE MERIT APPRENTICESHIP ALLIANCE, INC. - EMPIRE STATE MERIT APPRENTICESHIP ALLIANCE, INC. 401(K) RETIREMENT PLAN (2022) Form 5500
Creator: EMPIRE STATE MERIT APPRENTICESHIP ALLIANCE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, EMPIRE STATE MERIT APPRENTICESHIP ALLIANCE, INC. 401(K) RETIREMENT PLAN, EMPIRE STATE MERIT APPRENTICESHIP ALLIANCE, INC.

EMPIRE STATE MERIT APPRENTICESHIP ALLIANCE, INC.EIN 20-8482142Plan #001PY 2022

6320 FLY ROAD, SUITE 210A - EAST SYRACUSE, NY 13057315-440-8989

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$1.2M

-29.8% from 2021

Total participants

+15.4% from 2021

Average account balance

$14,515

-37.2% from 2021

Annual return

-18.53%

-34.65 pp from 2021

Benchmarks

See 9,360 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort9,360 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.90M

Not enough data

1 years with asset history on file

Average account balance

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

$20K

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.

157.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$394K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+13.94%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2785

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 codes2E2F2G2J2T3D2D

Plan features

2D
Offset plan
Plan benefits are subject to offset for retirement benefits provided in another plan or arrangement of the employer.
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.
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 participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
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

$445K

$4941 / participant

Other / not subdivided$445K100.0%

% of EOY assets

36.046%

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

$14,515

$54,370-73.3%

$82,763-82.5%

$68,490-78.8%

Participation rate

94.4%

63.9%+30.5pp

72.6%+21.9pp

67.9%+26.5pp

Annual return

-18.53%

-13.67%-4.9pp

702.45%-721.0pp

-7.85%-10.7pp

Employer contribution / active EE

$1,901

$2,219-14.3%

$3,008-36.8%

$2,597-26.8%

Participant deferral / active EE

$405

$3,247-87.5%

$4,395-90.8%

$4,028-89.9%

Admin fee / account holder

$5,232

$4,398+19.0%

$5,325-1.7%

$5,403-3.2%

EMPIRE STATE MERIT APPRENTICESHIP ALLIANCE, INC. 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

EMPIRE STATE MERIT APPRENTICESHIP ALLIANCE, INC. 401(K) RETIREMENT 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