Retirement plan

ECLC OF NEW JERSEY RETIREMENT PLAN

Name: ECLC OF NJ - ECLC OF NEW JERSEY RETIREMENT PLAN (2024) Form 5500
Creator: ECLC OF NJ
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ECLC OF NEW JERSEY RETIREMENT PLAN, ECLC OF NJ

ECLC OF NJEIN 22-2151162Plan #002PY 2024

100 PASSAIC AVENUE, SUITE I - CHATHAM, NJ 079282320973-635-1705

Prospect flagsLow returnsLow participationCorrective distributions

How to read this page

Total assets (EOY)

$36.3M

+0.9% from 2023

Total participants

694

-9.6% from 2023

Average account balance

$68,695

+13.7% from 2023

Annual return

10.48%

-2.95 pp from 2023

Benchmarks

See 4,117 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort4,117 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$36.27M

Not enough data

1 years with asset history on file

Average account balance

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

$69K

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.

528

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.

59.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.22M

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

+10.48%

Not enough data

1 years with return on file

Admin fee / account holder

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

$33

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 1 by compensation

Provider	Service type	Compensation
VALIC RETIREMENT SERVICES COMPANY7 years Filed as: VARIABLE ANNUITY LIFE INS. CO Service code 19 · EIN 74-1625348	Securities Custodian	$0

Plan features & details

Pension benefit codes2F2G2L2A2E

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
2L
Code section 403(b)(1) arrangement
Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.

Opportunity flags

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$17K

$42 / participant

Investment mgmt$17K100.0%

% of EOY assets

0.048%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CULLARICARRICO
Auditor EIN: 270623664
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$68,695

$50,919+34.9%

$155,556-55.8%

$77,762-11.7%

Participation rate

59.6%

63.1%-3.5pp

78.2%-18.6pp

70.6%-11.0pp

Annual return

10.48%

34.84%-24.4pp

64.84%-54.4pp

31.27%-20.8pp

Employer contribution / active EE

$2,752

$1,991+38.2%

$4,675-41.1%

$2,728+0.9%

Participant deferral / active EE

$2,639

$2,824-6.6%

$5,631-53.1%

$4,651-43.3%

Admin fee / account holder

$33

$437-92.5%

$15,885-99.8%

$433-92.4%

Provider

Service type

Compensation

VALIC RETIREMENT SERVICES COMPANY7 years

Filed as: VARIABLE ANNUITY LIFE INS. CO

Service code 19 · EIN 74-1625348

Securities Custodian

ECLC OF NEW JERSEY RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ECLC OF NEW JERSEY 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