Retirement plan

CHANCELLOR ACADEMY 401(K) PROFIT SHARING PLAN

Name: CHANCE CORPORATION, INC. - CHANCELLOR ACADEMY 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: CHANCE CORPORATION, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CHANCELLOR ACADEMY 401(K) PROFIT SHARING PLAN, CHANCE CORPORATION, INC.

CHANCE CORPORATION, INC.EIN 22-1934342Plan #001PY 2023

7 INDUSTRIAL ROAD, UNIT 203-A - PEQUANNOCK, NJ 07440973-835-4989

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$6.1M

+6.6% from 2022

Total participants

-10.4% from 2022

Average account balance

$144,100

+19.3% from 2022

Annual return

9.58%

+23.60 pp from 2022

Benchmarks

See 4,420 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants25-99

Cohort4,420 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.90M

Not enough data

1 years with asset history on file

Average account balance

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

$111K

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.

126.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$555K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+9.85%

Not enough data

1 years with return on file

Admin fee / account holder

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

$43417

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 codes2E2G2J2F2T

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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$471K

$14286 / participant

Other / not subdivided$471K100.0%

% of EOY assets

7.790%

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

$144,100

$46,599+209.2%

$64,101+124.8%

$75,173+91.7%

Participation rate

97.0%

65.9%+31.0pp

72.3%+24.7pp

67.2%+29.8pp

Annual return

9.58%

26.06%-16.5pp

33.72%-24.1pp

160.72%-151.1pp

Employer contribution / active EE

$3,030

$1,975+53.4%

$2,749+10.2%

$2,671+13.5%

Participant deferral / active EE

$6,008

$2,837+111.8%

$3,881+54.8%

$4,126+45.6%

Admin fee / account holder

$11,225

$2,956+279.7%

$3,070+265.6%

$5,651+98.7%

CHANCELLOR ACADEMY 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CHANCELLOR ACADEMY 401(K) PROFIT SHARING 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