Retirement plan

PASSAIC HEAD START PENSION PLAN

Name: PASSAIC FAMILY HEAD START - PASSAIC HEAD START PENSION PLAN (2023) Form 5500
Creator: PASSAIC FAMILY HEAD START
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PASSAIC HEAD START PENSION PLAN, PASSAIC FAMILY HEAD START

PASSAIC FAMILY HEAD STARTEIN 30-0047522Plan #001PY 2023

68 3RD ST # 72 - PASSAIC, NJ 070557504973-365-5804passaicheadstart.orgLinkedIn11-50 employeeseducation management

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$2.4M

-9.8% from 2022

Total participants

-1.1% from 2022

Average account balance

$26,172

-9.8% from 2022

Annual return

5.45%

+10.41 pp from 2022

Benchmarks

See 20,801 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort20,801 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.06M

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.

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.

232.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$199K

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

+5.24%

Not enough data

1 years with return on file

Admin fee / account holder

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

$950

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 codes2E2F2G2L2M2T3D

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.
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.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$539K

$13816 / participant

Other / not subdivided$539K100.0%

% of EOY assets

22.876%

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

$26,172

$77,908-66.4%

$149,696-82.5%

$75,173-65.2%

Participation rate

100.0%

65.6%+34.4pp

78.8%+21.2pp

67.2%+32.8pp

Annual return

5.45%

31.73%-26.3pp

134.46%-129.0pp

160.72%-155.3pp

Employer contribution / active EE

$921

$3,138-70.7%

$4,821-80.9%

$2,671-65.5%

Participant deferral / active EE

$2,579

$3,411-24.4%

$5,682-54.6%

$4,126-37.5%

Admin fee / account holder

$5,987

$5,950+0.6%

$13,212-54.7%

$5,651+6.0%

PASSAIC HEAD START PENSION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PASSAIC HEAD START PENSION 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