Retirement plan

WATSON FRIENDSHIP ACADEMY 403(B) RETIREMENT PLAN

Name: FRIENDSHIP ACADEMY - WATSON FRIENDSHIP ACADEMY 403(B) RETIREMENT PLAN (2024) Form 5500
Creator: FRIENDSHIP ACADEMY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WATSON FRIENDSHIP ACADEMY 403(B) RETIREMENT PLAN, FRIENDSHIP ACADEMY

FRIENDSHIP ACADEMYEIN 25-6012886Plan #001PY 2024

301 CAMP MEETING ROAD - SEWICKLEY, PA 15143412-749-2866LinkedIn11-50 employees

Prospect flagsLow assets / participantLow participant contribution

How to read this page

Total assets (EOY)

$13.3M

+10.0% from 2023

Total participants

588

-15.4% from 2023

Average account balance

$27,233

+31.9% from 2023

Annual return

14.27%

-3.07 pp from 2023

Benchmarks

See 952 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants250-999

Cohort952 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$13.26M

Not enough data

1 years with asset history on file

Average account balance

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

$27K

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.

487

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.

79.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.88M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+14.27%

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 3 by compensation

Provider	Service type	Compensation
WILLIS TOWERS WATSON US LLC1 year Filed as: WATSON INSTITUTE FRIENDSHIP Service code 99	Other Fees	$17,545
EPIC RETIREMENT PLAN SERVICES1 year Filed as: CESSTAL GROUP RETIREMENT PLAN SERVI Service code 64	Recordkeeping Fees	$15,046
SIEGEL ACTUARIAL CONSULTING, INC.1 year Service code 13	Contract Administrator	$13,148

Plan features & details

Pension benefit codes2E2F2J2L2M2T3D3H

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).
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.
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.
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

2 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$2K

$3 / participant

Contract admin$2K100.0%

% of EOY assets

0.012%

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: SCHNEIDER DOWNS
Auditor EIN: 251408703
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$27,233

$91,692-70.3%

$67,561-59.7%

$77,714-65.0%

Participation rate

79.5%

76.0%+3.5pp

72.9%+6.6pp

70.6%+8.9pp

Annual return

14.27%

14.88%-0.6pp

3525.44%-3511.2pp

31.26%-17.0pp

Employer contribution / active EE

$2,099

$3,188-34.1%

$2,735-23.2%

$2,727-23.0%

Participant deferral / active EE

$1,714

$3,912-56.2%

$4,003-57.2%

$4,649-63.1%

Admin fee / account holder

$245-98.7%

$4,006-99.9%

$433-99.3%

Provider

Service type

Compensation

WILLIS TOWERS WATSON US LLC1 year

Filed as: WATSON INSTITUTE FRIENDSHIP

Service code 99

Other Fees

$17,545

EPIC RETIREMENT PLAN SERVICES1 year

Filed as: CESSTAL GROUP RETIREMENT PLAN SERVI

Service code 64

Recordkeeping Fees

$15,046

SIEGEL ACTUARIAL CONSULTING, INC.1 year

Service code 13

Contract Administrator

$13,148

WATSON FRIENDSHIP ACADEMY 403(B) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WATSON FRIENDSHIP ACADEMY 403(B) 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