Retirement plan

PHALANX FAMILY SERVICES 401(K) PROFIT SHARING PLAN & TRUST

Name: PHALANX FAMILY SERVICES - PHALANX FAMILY SERVICES 401(K) PROFIT SHARING PLAN & TRUST (2024) Form 5500
Creator: PHALANX FAMILY SERVICES
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PHALANX FAMILY SERVICES 401(K) PROFIT SHARING PLAN & TRUST, PHALANX FAMILY SERVICES

PHALANX FAMILY SERVICESEIN 36-4468891Plan #001PY 2024

837 W 119TH ST - CHICAGO, IL 606435211773-291-1086LinkedIn51-200 employeesprofessional training & coaching

Prospect flagsLow fidelity bond

How to read this page

Total assets (EOY)

$1.3M

+16.2% from 2023

Total participants

142

+6.0% from 2023

Average account balance

$9,595

+10.3% from 2023

Annual return

11.72%

-1.36 pp from 2023

Benchmarks

See 21,710 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort21,710 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.32M

Not enough data

1 years with asset history on file

Average account balance

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

$10K

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.

138

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.

94.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$219K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+11.72%

Not enough data

1 years with return on file

Admin fee / account holder

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

$51

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 codes2E2F2G2J2T3D3H

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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

1 tripped

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

$7K

$103 / participant

Investment mgmt$3K43.5%
Contract admin$4K56.5%

% of EOY assets

0.531%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: POOLER CPA GROUP LLC
Auditor EIN: 824354021
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$9,595

$81,331-88.2%

$155,534-93.8%

$80,935-88.1%

Participation rate

94.1%

66.3%+27.9pp

78.2%+15.9pp

67.7%+26.5pp

Annual return

11.72%

33.37%-21.6pp

64.92%-53.2pp

35.66%-23.9pp

Employer contribution / active EE

$1,674

$3,105-46.1%

$4,675-64.2%

$2,757-39.3%

Participant deferral / active EE

$1,543

$3,454-55.3%

$5,630-72.6%

$4,299-64.1%

Admin fee / account holder

$51

$7,999-99.4%

$15,900-99.7%

$6,924-99.3%

PHALANX FAMILY SERVICES 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PHALANX FAMILY SERVICES 401(K) PROFIT SHARING 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