Retirement plan

NATIONAL HERITAGE ACADEMIES, INC. RETIREMENT SAVINGS PLAN

Name: NATIONAL HERITAGE ACADEMIES, INC. - NATIONAL HERITAGE ACADEMIES, INC. RETIREMENT SAVINGS PLAN (2022) Form 5500
Creator: NATIONAL HERITAGE ACADEMIES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NATIONAL HERITAGE ACADEMIES, INC. RETIREMENT SAVINGS PLAN, NATIONAL HERITAGE ACADEMIES, INC.

NATIONAL HERITAGE ACADEMIES, INC.EIN 38-3244019Plan #001PY 2022

3850 BROADMOOR SE, SUITE 201 - GRAND RAPIDS, MI 49512616-222-1700nhaschools.comLinkedIn5001-10000 employeeseducation management

Prospect flagsLow returnsLow assets / participantFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$216.4M

-19.3% from 2017

Total participants

9,076

-7.9% from 2017

Average account balance

$24,689

-11.8% from 2017

Annual return

-17.75%

-14.50 pp from 2017

Benchmarks

See 45 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants5,000-9,999

Cohort45 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$307.27M

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.

9,210

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.

96.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$31.91M

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

+15.45%

Not enough data

1 years with return on file

Admin fee / account holder

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

$97

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

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
JOHN HANCOCK LIFE INSURANCE COMPANY2 years Filed as: JOHN HANCOCK Service code 15 · EIN 01-0233346	Recordkeeping	$714,545
STIFEL NICOLAUS & CO INC2 years Filed as: STIEFEL NICOLAUS & COMPANY, INC. Service code 27 · EIN 43-0538770	Advisory (Plan)	$82,000
HUNGERFORD NICHOLS6 years Service code 10 · EIN 38-2184825	Accounting	$15,000

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3F3H

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.
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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
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

4 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$812K

$124 / participant

Investment mgmt$82K10.1%
Contract admin$715K88.0%
Other / not subdivided$15K1.8%

% of EOY assets

0.375%

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: HUNGERFORD NICHOLS
Auditor EIN: 382184825
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$24,689

$95,445-74.1%

$60,919-59.5%

$78,104-68.4%

Participation rate

95.2%

72.5%+22.7pp

73.1%+22.1pp

74.5%+20.7pp

Annual return

-17.75%

-12.21%-5.5pp

16.98%-34.7pp

10.90%-28.7pp

Employer contribution / active EE

$1,155

$3,900-70.4%

$2,704-57.3%

$3,128-63.1%

Participant deferral / active EE

$3,105

$4,558-31.9%

$3,814-18.6%

$5,089-39.0%

Admin fee / account holder

$93

$46+102.3%

$3,226-97.1%

$79+17.3%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY2 years

Filed as: JOHN HANCOCK

Service code 15 · EIN 01-0233346

Recordkeeping

$714,545

STIFEL NICOLAUS & CO INC2 years

Filed as: STIEFEL NICOLAUS & COMPANY, INC.

Service code 27 · EIN 43-0538770

Advisory (Plan)

$82,000

HUNGERFORD NICHOLS6 years

Service code 10 · EIN 38-2184825

Accounting

$15,000

NATIONAL HERITAGE ACADEMIES, INC. RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NATIONAL HERITAGE ACADEMIES, INC. RETIREMENT SAVINGS 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