Retirement plan

BEDFORD STUYVESANT NEW BEGINNINGS CHARTER SCHOOL 401(K) RETIREMENT PLAN

Name: BEDFORD STUYVESANT NEW BEGINNINGS CHARTER SCHOOL - BEDFORD STUYVESANT NEW BEGINNINGS CHARTER SCHOOL 401(K) RETIREMENT PLAN (2024) Form 5500
Creator: BEDFORD STUYVESANT NEW BEGINNINGS CHARTER SCHOOL
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BEDFORD STUYVESANT NEW BEGINNINGS CHARTER SCHOOL 401(K) RETIREMENT PLAN, BEDFORD STUYVESANT NEW BEGINNINGS CHARTER SCHOOL

BEDFORD STUYVESANT NEW BEGINNINGS CHARTER SCHOOLEIN 27-1993286Plan #001PY 2024

82 LEWIS AVENUE - BROOKLYN, NY 11206347-294-0621LinkedIn51-200 employeesprimary/secondary education

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$4.7M

+19.6% from 2023

Total participants

172

-2.3% from 2023

Average account balance

$33,378

+14.5% from 2023

Annual return

16.61%

+3.39 pp from 2023

Benchmarks

See 1,581 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants100-249

Cohort1,581 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.74M

Not enough data

1 years with asset history on file

Average account balance

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

$33K

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.

142

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.

71.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$526K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+16.61%

Not enough data

1 years with return on file

Admin fee / account holder

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

$33

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 1 by compensation

Provider	Service type	Compensation
MAGII PENSION SERVICES LLC5 years Filed as: MAGII PENSION SERVICES Service code 13 490 WHEELER RD STE 265 · HAUPPAUGE, NY 117884365	Contract Administrator	$4,650

Plan features & details

Pension benefit codes2E2J2K2G3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

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

$5K

$44 / participant

Contract admin$5K100.0%

% of EOY assets

0.098%

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: PKF O'CONNOR DAVIES, LLP
Auditor EIN: 271728945
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$33,378

$69,745-52.1%

$67,511-50.6%

$74,546-55.2%

Participation rate

71.7%

71.3%+0.4pp

72.9%-1.2pp

67.2%+4.5pp

Annual return

16.61%

-40.37%+57.0pp

3517.41%-3500.8pp

1366.03%-1349.4pp

Employer contribution / active EE

$2,130

$2,705-21.3%

$2,733-22.1%

$2,624-18.8%

Participant deferral / active EE

$2,833

$3,636-22.1%

$4,000-29.2%

$4,347-34.8%

Admin fee / account holder

$33

$894-96.3%

$3,999-99.2%

$1,944-98.3%

Provider

Service type

Compensation

MAGII PENSION SERVICES LLC5 years

Filed as: MAGII PENSION SERVICES

Service code 13

490 WHEELER RD STE 265 · HAUPPAUGE, NY 117884365

Contract Administrator

$4,650

BEDFORD STUYVESANT NEW BEGINNINGS CHARTER SCHOOL 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BEDFORD STUYVESANT NEW BEGINNINGS CHARTER SCHOOL 401(K) 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