Retirement plan

NEW WORLD PREPARATORY ACADEMY CHARTER SCHOOL 401(K) PLAN

Name: NEW WORLD PREPARATORY ACADEMY CHARTER SCHOOL - NEW WORLD PREPARATORY ACADEMY CHARTER SCHOOL 401(K) PLAN (2019) Form 5500
Creator: NEW WORLD PREPARATORY ACADEMY CHARTER SCHOOL
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NEW WORLD PREPARATORY ACADEMY CHARTER SCHOOL 401(K) PLAN, NEW WORLD PREPARATORY ACADEMY CHARTER SCHOOL

NEW WORLD PREPARATORY ACADEMY CHARTER SCHOOLEIN 27-2013987Plan #001PY 2019

26 SHARPE AVENUE - STATEN ISLAND, NY 10302718-705-8990newworldprep.orgLinkedIn51-200 employeesprimary/secondary education

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.7M

+47.3% from 2018

Total participants

-4.8% from 2018

Average account balance

$25,659

+40.7% from 2018

Annual return

25.98%

+35.94 pp from 2018

Benchmarks

See 114 peers

Peer group

Industry92 - Public Administration

Plan typeDefined contribution

Participants25-99

Cohort114 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.81M

Not enough data

1 years with asset history on file

Average account balance

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

$35K

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.

110

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.

50.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$465K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+13.45%

Not enough data

1 years with return on file

Admin fee / account holder

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

$205

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

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

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

$64K

$1038 / participant

Other / not subdivided$64K100.0%

% of EOY assets

3.744%

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

$25,659

$45,698-43.9%

$61,048-58.0%

$72,975-64.8%

Participation rate

79.0%

74.3%+4.7pp

79.3%-0.3pp

69.5%+9.5pp

Annual return

25.98%

20.14%+5.8pp

26.18%-0.2pp

81.01%-55.0pp

Employer contribution / active EE

$1,860

$2,803-33.6%

$3,716-49.9%

$2,440-23.8%

Participant deferral / active EE

$3,168

$3,264-2.9%

$4,470-29.1%

$3,608-12.2%

Admin fee / account holder

$961

$3,347-71.3%

$3,728-74.2%

$5,124-81.3%

NEW WORLD PREPARATORY ACADEMY CHARTER SCHOOL 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NEW WORLD PREPARATORY ACADEMY CHARTER SCHOOL 401(K) 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