Retirement plan

NEW JERSEY CITIZEN ACTION 401(K) PROFIT SHARING PLAN

Name: NEW JERSEY CITIZEN ACTION - NEW JERSEY CITIZEN ACTION 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: NEW JERSEY CITIZEN ACTION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NEW JERSEY CITIZEN ACTION 401(K) PROFIT SHARING PLAN, NEW JERSEY CITIZEN ACTION

NEW JERSEY CITIZEN ACTIONEIN 22-2395222Plan #001PY 2024

75 RARITAN AVENUE, SUITE 200 - HIGHLAND PARK, NJ 08904732-246-4772LinkedIn1-10 employeeslaw practice

Prospect flagsLow returnsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$3M

+18.2% from 2023

Total participants

+7.5% from 2023

Average account balance

$79,859

+8.9% from 2023

Annual return

9.33%

-4.80 pp from 2023

Benchmarks

See 10,680 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort10,680 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.03M

Not enough data

1 years with asset history on file

Average account balance

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

$80K

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.

105.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$244K

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

+9.33%

Not enough data

1 years with return on file

Admin fee / account holder

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

$577

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 codes2E2F2G2J2T3D3H

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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 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.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$22K

$609 / participant

Other / not subdivided$22K100.0%

% of EOY assets

0.723%

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

$79,859

$58,241+37.1%

$81,780-2.3%

$80,911-1.3%

Participation rate

86.1%

63.4%+22.7pp

72.4%+13.7pp

67.6%+18.5pp

Annual return

9.33%

41.73%-32.4pp

776.27%-766.9pp

35.63%-26.3pp

Employer contribution / active EE

$3,057

$2,343+30.4%

$2,914+4.9%

$2,756+10.9%

Participant deferral / active EE

$3,721

$3,283+13.4%

$4,321-13.9%

$4,297-13.4%

Admin fee / account holder

$577

$4,973-88.4%

$7,384-92.2%

$6,935-91.7%

NEW JERSEY CITIZEN ACTION 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NEW JERSEY CITIZEN ACTION 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