Retirement plan

403(B) THRIFT PLAN OF WORK SKILLS CORPORATION

Name: WORK SKILLS CORPORATION - 403(B) THRIFT PLAN OF WORK SKILLS CORPORATION (2024) Form 5500
Creator: WORK SKILLS CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 403(B) THRIFT PLAN OF WORK SKILLS CORPORATION, WORK SKILLS CORPORATION

WORK SKILLS CORPORATIONEIN 38-2025701Plan #001PY 2024

100 SUMMIT ST - BRIGHTON, MI 481162465810-227-4868workskills.org.ukLinkedIn51-200 employeesprofessional training & coaching

Prospect flagsLow participationLow employer contributionLow participant contribution

How to read this page

Total assets (EOY)

$4.1M

+22.0% from 2023

Total participants

480

+5.7% from 2023

Average account balance

$24,892

+11.6% from 2023

Annual return

14.32%

-1.18 pp from 2023

Benchmarks

See 1,035 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants250-999

Cohort1,035 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.08M

Not enough data

1 years with asset history on file

Average account balance

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

$25K

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.

164

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.

20.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$354K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$895

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

+14.32%

Not enough data

1 years with return on file

Admin fee / account holder

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

$260

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

Top 4 by compensation

Provider	Service type	Compensation
GLOBAL RETIREMENT PARTNERS LLC2 years Filed as: GLOBAL RETIREMENT PARTNERS, LLC Service code 27 · EIN 47-1411118	Advisory (Plan)	$17,779
STANCORP FINANCIAL GROUP2 years Service code 10 · EIN 93-1253576	Accounting	$17,612
SHERIDAN ROAD ADVISORS LLC2 years Filed as: HUB INTERNATIONAL MIDWEST LIMITED Service code 27 · EIN 35-0672425	Advisory (Plan)	$3,852
RELIANCE TRUST COMPANY2 years Filed as: RELIANCE CUSTODY Service code 19 · EIN 25-1838406	Securities Custodian	$249

Plan features & details

Pension benefit codes2G3D2J2K2T

Plan features

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$43K

$108 / participant

Contract admin$43K100.0%

% of EOY assets

1.045%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: UHY LLP
Auditor EIN: 200694403
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$24,892

$65,960-62.3%

$81,844-69.6%

$77,736-68.0%

Participation rate

20.0%

65.8%-45.8pp

72.4%-52.4pp

70.6%-50.6pp

Annual return

14.32%

26.64%-12.3pp

778.87%-764.6pp

31.26%-16.9pp

Employer contribution / active EE

$171

$2,375-92.8%

$2,916-94.1%

$2,728-93.7%

Participant deferral / active EE

$724

$3,505-79.3%

$4,323-83.2%

$4,651-84.4%

Admin fee / account holder

$260

$526-50.6%

$7,355-96.5%

$433-40.0%

Provider

Service type

Compensation

GLOBAL RETIREMENT PARTNERS LLC2 years

Filed as: GLOBAL RETIREMENT PARTNERS, LLC

Service code 27 · EIN 47-1411118

Advisory (Plan)

$17,779

STANCORP FINANCIAL GROUP2 years

Service code 10 · EIN 93-1253576

Accounting

$17,612

SHERIDAN ROAD ADVISORS LLC2 years

Filed as: HUB INTERNATIONAL MIDWEST LIMITED

Service code 27 · EIN 35-0672425

Advisory (Plan)

$3,852

RELIANCE TRUST COMPANY2 years

Filed as: RELIANCE CUSTODY

Service code 19 · EIN 25-1838406

Securities Custodian

$249

403(B) THRIFT PLAN OF WORK SKILLS CORPORATION

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

403(B) THRIFT PLAN OF WORK SKILLS CORPORATION

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