Retirement plan

NO TEARS LEARNING, INC. 401(K) PROFIT SHARING PLAN

Name: NO TEARS LEARNING, INC. - NO TEARS LEARNING, INC. 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: NO TEARS LEARNING, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NO TEARS LEARNING, INC. 401(K) PROFIT SHARING PLAN, NO TEARS LEARNING, INC.

NO TEARS LEARNING, INC.EIN 26-3799871Plan #001PY 2024

8001 MACARTHUR BLVD - CABIN JOHN, MD 20818240-364-2789LinkedIn51-200 employeese-learning

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$24.8M

+16.4% from 2023

Total participants

243

-2.4% from 2023

Average account balance

$109,138

+21.5% from 2023

Annual return

17.71%

-4.01 pp from 2023

Benchmarks

See 1,582 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants100-249

Cohort1,582 peers

Snapshot2024

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$24.77M

Not enough data

1 years with asset history on file

Average account balance

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

$109K

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.

227

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.

91.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.76M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+17.71%

Not enough data

1 years with return on file

Admin fee / account holder

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

$342

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

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Service providers

Top 2 by compensation

Provider	Service type	Compensation
ALERUS FINANCIAL, N.A.10+ years Service code 15 · EIN 45-6062081	Recordkeeping	$54,796
ALERUS FINANCIAL, N.A.3 years Filed as: ALERUS INVESTMENT ADVISORS, INC Service code 26 · EIN 42-1378382	Advisory (Participants)	$22,815

Plan features & details

Pension benefit codes2A2E2F2G2J2S2T3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

$78K

$400 / participant

Recordkeeping$4K5.2%
Trustee / custodial$51K65.4%
Investment mgmt$23K29.4%

% of EOY assets

0.313%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: HOZIK & COMPANY, P.L.C.
Auditor EIN: 541963607
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$109,138

$69,763+56.4%

$67,502+61.7%

$74,495+46.5%

Participation rate

91.8%

71.4%+20.4pp

72.9%+18.9pp

67.2%+24.6pp

Annual return

17.71%

-40.34%+58.1pp

3512.12%-3494.4pp

1364.94%-1347.2pp

Employer contribution / active EE

$2,313

$2,704-14.5%

$2,731-15.3%

$2,623-11.8%

Participant deferral / active EE

$6,767

$3,636+86.1%

$4,000+69.2%

$4,346+55.7%

Admin fee / account holder

$342

$896-61.8%

$3,998-91.4%

$1,942-82.4%

Provider

Service type

Compensation

ALERUS FINANCIAL, N.A.10+ years

Service code 15 · EIN 45-6062081

Recordkeeping

$54,796

ALERUS FINANCIAL, N.A.3 years

Filed as: ALERUS INVESTMENT ADVISORS, INC

Service code 26 · EIN 42-1378382

Advisory (Participants)

$22,815

NO TEARS LEARNING, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NO TEARS LEARNING, INC. 401(K) PROFIT SHARING 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