Retirement plan

FIRST CHOICE PREP 401(K) PLAN AND TRUST

Name: FIRST CHOICE PREP - FIRST CHOICE PREP 401(K) PLAN AND TRUST (2020) Form 5500
Creator: FIRST CHOICE PREP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST CHOICE PREP 401(K) PLAN AND TRUST, FIRST CHOICE PREP

FIRST CHOICE PREPEIN 27-3281384Plan #001PY 2020

98 MERCER STREET, #2 - JERSEY CITY, NJ 07302973-454-8099firstchoiceprep.comLinkedIn11-50 employeeseducation management

Prospect flagsLow participationHigh assets / participant

How to read this page

Total assets (EOY)

$479K

No prior year

Total participants

No prior year

Average account balance

$479,402

No prior year

Annual return

15.48%

No prior year

Benchmarks

See 6,199 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants<25

Cohort6,199 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$895K

Not enough data

1 years with asset history on file

Average account balance

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

$179K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$92K

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

+14.77%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1717

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 codes2E2J2R3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

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

$479,402

$81,643+487.2%

$70,462+580.4%

$158,950+201.6%

Participation rate

50.0%

77.7%-27.7pp

75.1%-25.1pp

82.0%-32.0pp

Annual return

15.48%

208.51%-193.0pp

109.08%-93.6pp

302.91%-287.4pp

Employer contribution / active EE

$15,728

$3,218+388.8%

$2,737+474.6%

$4,762+230.3%

Participant deferral / active EE

$9,750

$4,555+114.1%

$3,710+162.8%

$5,983+63.0%

Admin fee / account holder

$6,194-100.0%

$3,845-100.0%

$11,248-100.0%

FIRST CHOICE PREP 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

FIRST CHOICE PREP 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion