Retirement plan

WESTERN ACADEMY 403(B) PLAN

Name: TEXAS EDUCATION WORKS - WESTERN ACADEMY 403(B) PLAN (2024) Form 5500
Creator: TEXAS EDUCATION WORKS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WESTERN ACADEMY 403(B) PLAN, TEXAS EDUCATION WORKS

TEXAS EDUCATION WORKSdba WESTERN AEIN 26-1886794Plan #001PY 2024

1511 BUTLERCREST ST - HOUSTON, TX 77080713-461-7000

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$3.2M

+41.7% from 2023

Total participants

-4.3% from 2023

Average account balance

$73,206

+44.9% from 2023

Annual return

16.28%

-5.90 pp from 2023

Benchmarks

See 4,485 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants25-99

Cohort4,485 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.22M

Not enough data

1 years with asset history on file

Average account balance

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

$73K

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.

112.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$702K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$18K

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

+16.28%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2887

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 codes2M3D2G2F2T

Plan features

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.
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.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$127K

$3258 / participant

Other / not subdivided$127K100.0%

% of EOY assets

3.944%

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

$73,206

$48,284+51.6%

$67,524+8.4%

$80,911-9.5%

Participation rate

97.4%

66.4%+31.0pp

72.9%+24.5pp

67.6%+29.8pp

Annual return

16.28%

18.27%-2.0pp

3519.41%-3503.1pp

35.63%-19.4pp

Employer contribution / active EE

$8,937

$2,021+342.1%

$2,734+226.9%

$2,756+224.3%

Participant deferral / active EE

$9,054

$2,927+209.4%

$4,001+126.3%

$4,297+110.7%

Admin fee / account holder

$2,887

$3,688-21.7%

$4,001-27.8%

$6,935-58.4%

WESTERN ACADEMY 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WESTERN ACADEMY 403(B) 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