Retirement plan

MERIT SCHOOL OF MUSIC 401(K) PLAN & TRUST

Name: MERIT SCHOOL OF MUSIC - MERIT SCHOOL OF MUSIC 401(K) PLAN & TRUST (2019) Form 5500
Creator: MERIT SCHOOL OF MUSIC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MERIT SCHOOL OF MUSIC 401(K) PLAN & TRUST, MERIT SCHOOL OF MUSIC

MERIT SCHOOL OF MUSICEIN 36-3028768Plan #003PY 2019

38 S. PEORIA STREET - CHICAGO, IL 60607312-786-9428meritmusic.orgLinkedIn51-200 employeesmusic

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.7M

+34.0% from 2018

Total participants

+5.6% from 2018

Average account balance

$25,200

+37.9% from 2018

Annual return

24.28%

+30.77 pp from 2018

Benchmarks

See 3,898 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants25-99

Cohort3,898 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.85M

Not enough data

1 years with asset history on file

Average account balance

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

$43K

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.

113

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.

143.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$443K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+14.53%

Not enough data

1 years with return on file

Admin fee / account holder

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

$445

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 codes2F2G2J2T3D

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.
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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$82K

$1261 / participant

Other / not subdivided$82K100.0%

% of EOY assets

4.715%

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

$25,200

$45,087-44.1%

$69,483-63.7%

$72,976-65.5%

Participation rate

90.8%

68.5%+22.3pp

74.6%+16.2pp

69.5%+21.3pp

Annual return

24.28%

22.67%+1.6pp

28.99%-4.7pp

81.02%-56.7pp

Employer contribution / active EE

$1,191

$2,055-42.1%

$2,780-57.2%

$2,440-51.2%

Participant deferral / active EE

$2,003

$2,603-23.0%

$3,537-43.4%

$3,608-44.5%

Admin fee / account holder

$1,188

$3,057-61.1%

$3,841-69.1%

$5,124-76.8%

MERIT SCHOOL OF MUSIC 401(K) PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MERIT SCHOOL OF MUSIC 401(K) PLAN & TRUST

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