Retirement plan

403(B) THRIFT PLAN FOR EMPLOYEES OF SUMMIT EARLY LEARNING, INC.

Name: SUMMIT EARLY LEARNING, INC. - 403(B) THRIFT PLAN FOR EMPLOYEES OF SUMMIT EARLY LEARNING, INC. (2023) Form 5500
Creator: SUMMIT EARLY LEARNING, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 403(B) THRIFT PLAN FOR EMPLOYEES OF SUMMIT EARLY LEARNING, INC., SUMMIT EARLY LEARNING, INC.

SUMMIT EARLY LEARNING, INC.EIN 23-1706558Plan #001PY 2023

14 S 11TH ST - MIFFLINBURG, PA 178449792570-966-2845summitearlylearning.orgLinkedIn201-500 employeeseducation management

Prospect flagsLow returnsLow participationLow participant contribution

How to read this page

Total assets (EOY)

$4.3M

+1.5% from 2022

Total participants

348

+54.7% from 2022

Average account balance

$17,602

-10.5% from 2022

Annual return

10.68%

+22.63 pp from 2022

Benchmarks

See 5,708 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,708 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.07M

Not enough data

1 years with asset history on file

Average account balance

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

$16K

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.

322

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.

73.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$309K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+11.72%

Not enough data

1 years with return on file

Admin fee / account holder

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

$10

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
MUTUAL OF AMERICA INVESTMENT CORP4 years Service code 12 320 PARK AVENUE · NEW YORK, NY 10022	Participant loan processing; Account ...	$361

Plan features & details

Pension benefit codes2G3D2J2K2S2T

Plan features

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$372

$2 / participant

Other / not subdivided$372100.0%

% of EOY assets

0.009%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Qualified opinion

Opinion is qualified - a specific issue limited the scope or accuracy of the audit.

Auditor firm: WAGNER DRESS ELSASSER & ASSOCIATES
Auditor EIN: 455012510
Audit fees: (not subdivided)
Opinion code: Qualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$17,602

$61,356-71.3%

$149,696-88.2%

$71,511-75.4%

Participation rate

56.4%

62.5%-6.2pp

78.8%-22.4pp

67.9%-11.6pp

Annual return

10.68%

35.86%-25.2pp

134.46%-123.8pp

28.86%-18.2pp

Employer contribution / active EE

$501

$2,382-79.0%

$4,821-89.6%

$2,589-80.7%

Participant deferral / active EE

$761

$2,920-73.9%

$5,682-86.6%

$4,291-82.3%

Admin fee / account holder

$1,263-99.9%

$13,212-100.0%

$1,588-99.9%

Provider

Service type

Compensation

MUTUAL OF AMERICA INVESTMENT CORP4 years

Service code 12

320 PARK AVENUE · NEW YORK, NY 10022

Participant loan processing; Account ...

$361

403(B) THRIFT PLAN FOR EMPLOYEES OF SUMMIT EARLY LEARNING, INC.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

403(B) THRIFT PLAN FOR EMPLOYEES OF SUMMIT EARLY LEARNING, INC.

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