Retirement plan

PUBLIC PREPARATORY NETWORK, INC. 403(B) PLAN

Name: PUBLIC PREPARATORY NETWORK, INC. - PUBLIC PREPARATORY NETWORK, INC. 403(B) PLAN (2024) Form 5500
Creator: PUBLIC PREPARATORY NETWORK, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PUBLIC PREPARATORY NETWORK, INC. 403(B) PLAN, PUBLIC PREPARATORY NETWORK, INC.

PUBLIC PREPARATORY NETWORK, INC.EIN 26-4646416Plan #002PY 2024

192 E. 151 ST ST, FLOOR 1 - BRONX, NY 10451212-346-6000publicprep.orgLinkedIn201-500 employeeseducation management

Prospect flagsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$13M

+11.1% from 2023

Total participants

472

-1.3% from 2023

Average account balance

$59,532

+25.3% from 2023

Annual return

15.22%

+1.46 pp from 2023

Benchmarks

See 951 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants250-999

Cohort951 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$13.87M

Not enough data

1 years with asset history on file

Average account balance

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

$68K

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.

204

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.

28.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$780K

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

+13.32%

Not enough data

1 years with return on file

Admin fee / account holder

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

$232

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 2 by compensation

Provider	Service type	Compensation
OSAIC WEALTH INC1 year Filed as: OSAIC WEALTH, INC. Service code 27 20 E. THOMAS RD · PHOENIX, AZ 850123110	Advisory (Plan)	$30,439
CPI QUALIFIED PLAN CONSULTANTS, INC8 years Service code 15 · EIN 48-1205033	Recordkeeping	$14,137

Plan features & details

Pension benefit codes2F2G2L2M2T3D3H

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.
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 participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$45K

$124 / participant

Recordkeeping$9K21.3%
Investment mgmt$30K68.3%
Contract admin$5K10.5%

% of EOY assets

0.343%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MENGEL, METZGER, BARR, & CO. LLP
Auditor EIN: 161092347
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$59,532

$91,695-35.1%

$67,575-11.9%

$77,736-23.4%

Participation rate

29.2%

76.0%-46.8pp

72.9%-43.7pp

70.6%-41.3pp

Annual return

15.22%

14.88%+0.3pp

3528.98%-3513.8pp

31.26%-16.0pp

Employer contribution / active EE

$974

$3,189-69.5%

$2,736-64.4%

$2,728-64.3%

Participant deferral / active EE

$2,205

$3,912-43.6%

$4,003-44.9%

$4,651-52.6%

Admin fee / account holder

$204

$245-16.5%

$3,993-94.9%

$433-52.8%

Provider

Service type

Compensation

OSAIC WEALTH INC1 year

Filed as: OSAIC WEALTH, INC.

Service code 27

20 E. THOMAS RD · PHOENIX, AZ 850123110

Advisory (Plan)

$30,439

CPI QUALIFIED PLAN CONSULTANTS, INC8 years

Service code 15 · EIN 48-1205033

Recordkeeping

$14,137

PUBLIC PREPARATORY NETWORK, INC. 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PUBLIC PREPARATORY NETWORK, INC. 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