Retirement plan

THE PHILADELPHIA SCHOOL 403(B) DC PLAN

Name: THE PHILADELPHIA SCHOOL - THE PHILADELPHIA SCHOOL 403(B) DC PLAN (2023) Form 5500
Creator: THE PHILADELPHIA SCHOOL
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE PHILADELPHIA SCHOOL 403(B) DC PLAN, THE PHILADELPHIA SCHOOL

THE PHILADELPHIA SCHOOLEIN 23-7091186Plan #001PY 2023

2501 LOMBARD STREET - PHILADELPHIA, PA 19146215-545-5323tpschool.orgLinkedIn51-200 employeesprimary/secondary education

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$18.3M

+9.2% from 2022

Total participants

213

+2.4% from 2022

Average account balance

$89,504

+9.7% from 2022

Annual return

14.40%

+27.41 pp from 2022

Benchmarks

See 1,530 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants100-249

Cohort1,530 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$20.76M

Not enough data

1 years with asset history on file

Average account balance

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

$99K

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.

210

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.

89.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$896K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+13.15%

Not enough data

1 years with return on file

Admin fee / account holder

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

$398

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
NORTHEAST FINANCIAL GROUP8 years Service code 15 PO BOX 611 ROUTE 611 · TANNERSVILLE, PA 18372	Recordkeeping	$32,407

Plan features & details

Pension benefit codes2E2F2G2K2M2T2L3D

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.
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.
2L
Code section 403(b)(1) arrangement
Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$73K

$731 / participant

Investment mgmt$71K96.6%
Contract admin$3K3.4%

% of EOY assets

0.400%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: B B D, LLP
Auditor EIN: 232896692
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$89,504

$65,582+36.5%

$64,101+39.6%

$71,511+25.2%

Participation rate

91.0%

73.2%+17.8pp

72.3%+18.7pp

67.9%+23.1pp

Annual return

14.40%

18.96%-4.6pp

33.72%-19.3pp

28.86%-14.5pp

Employer contribution / active EE

$3,053

$2,671+14.3%

$2,749+11.1%

$2,589+17.9%

Participant deferral / active EE

$4,682

$3,628+29.1%

$3,881+20.6%

$4,291+9.1%

Admin fee / account holder

$358

$616-41.9%

$3,070-88.3%

$1,588-77.4%

Provider

Service type

Compensation

NORTHEAST FINANCIAL GROUP8 years

Service code 15

PO BOX 611 ROUTE 611 · TANNERSVILLE, PA 18372

Recordkeeping

$32,407

THE PHILADELPHIA SCHOOL 403(B) DC PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE PHILADELPHIA SCHOOL 403(B) DC 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