Retirement plan

BENWAY SCHOOL RETIREMENT SAVINGS PLAN

Name: BENWAY SCHOOL - BENWAY SCHOOL RETIREMENT SAVINGS PLAN (2023) Form 5500
Creator: BENWAY SCHOOL
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BENWAY SCHOOL RETIREMENT SAVINGS PLAN, BENWAY SCHOOL

BENWAY SCHOOLEIN 26-0420972Plan #002PY 2023

620 VALLEY ROAD - WAYNE, NJ 07470973-633-3837

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$4.5M

+17.7% from 2022

Total participants

+9.9% from 2022

Average account balance

$59,423

+8.4% from 2022

Annual return

12.81%

+28.48 pp from 2022

Benchmarks

See 4,415 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants25-99

Cohort4,415 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.60M

Not enough data

1 years with asset history on file

Average account balance

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

$81K

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.

113.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$337K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+12.06%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6314

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 codes2E2F2G2J2T3D

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.

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

$42K

$748 / participant

Other / not subdivided$42K100.0%

% of EOY assets

0.927%

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

$59,423

$46,534+27.7%

$64,097-7.3%

$75,177-21.0%

Participation rate

76.8%

65.9%+10.8pp

72.3%+4.5pp

67.2%+9.6pp

Annual return

12.81%

26.07%-13.3pp

33.75%-20.9pp

160.75%-147.9pp

Employer contribution / active EE

$1,299

$1,976-34.2%

$2,750-52.7%

$2,671-51.4%

Participant deferral / active EE

$2,420

$2,835-14.6%

$3,881-37.7%

$4,126-41.4%

Admin fee / account holder

$551

$2,957-81.4%

$3,070-82.1%

$5,651-90.3%

BENWAY SCHOOL RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BENWAY SCHOOL RETIREMENT SAVINGS 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