Retirement plan

A BETTER CHANCE 401(K) PLAN

Name: A BETTER CHANCE - A BETTER CHANCE 401(K) PLAN (2020) Form 5500
Creator: A BETTER CHANCE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, A BETTER CHANCE 401(K) PLAN, A BETTER CHANCE

A BETTER CHANCEEIN 23-7173492Plan #003PY 2020

253 WEST 35TH STREET, 6TH FLOOR - NEW YORK, NY 10001646-346-1310abetterchance.orgLinkedIn11-50 employeeseducation management

Other plans on this EIN

2 filings

#001Retirement-$1.6M assets #002Retirement-$539K assets

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.3M

+20.6% from 2019

Total participants

+7.1% from 2019

Average account balance

$21,472

+12.6% from 2019

Annual return

14.21%

-8.20 pp from 2019

Benchmarks

See 6,199 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants<25

Cohort6,199 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

Not enough data

1 years with asset history on file

Average account balance

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

Not enough data

0 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

0 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

Not enough data

0 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

Not enough data

0 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+0.00%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 codes2E2F2G2J3D

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.
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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$58K

$3059 / participant

Other / not subdivided$58K100.0%

% of EOY assets

4.511%

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

$21,472

$81,643-73.7%

$70,462-69.5%

$158,950-86.5%

Participation rate

100.0%

77.7%+22.3pp

75.1%+24.9pp

82.0%+18.0pp

Annual return

14.21%

208.51%-194.3pp

109.08%-94.9pp

302.91%-288.7pp

Employer contribution / active EE

$2,930

$3,218-9.0%

$2,737+7.0%

$4,762-38.5%

Participant deferral / active EE

$3,632

$4,555-20.3%

$3,710-2.1%

$5,983-39.3%

Admin fee / account holder

$969

$6,194-84.4%

$3,845-74.8%

$11,248-91.4%

A BETTER CHANCE 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

A BETTER CHANCE 401(K) 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