Retirement plan

LEGACY TRADITIONAL SCHOOLS 401(K) PLAN

Name: LEGACY TRADITIONAL SCHOOLS - LEGACY TRADITIONAL SCHOOLS 401(K) PLAN (2020) Form 5500
Creator: LEGACY TRADITIONAL SCHOOLS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LEGACY TRADITIONAL SCHOOLS 401(K) PLAN, LEGACY TRADITIONAL SCHOOLS

LEGACY TRADITIONAL SCHOOLSEIN 46-0641842Plan #002PY 2020

3201 S GILBERT RD, BLDG A - CHANDLER, AZ 85286480-270-5438legacytraditional.orgLinkedIn1001-5000 employeeseducation management

Prospect flagsLow returnsLow participationLow assets / participantLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$12.2M

+22.1% from 2019

Total participants

1,387

+1.1% from 2019

Average account balance

$19,459

-4.0% from 2019

Annual return

6.49%

-1.58 pp from 2019

Benchmarks

See 263 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort263 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$32.50M

Not enough data

1 years with asset history on file

Average account balance

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

$38K

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.

858

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.

42.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.98M

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

+14.62%

Not enough data

1 years with return on file

Admin fee / account holder

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

$96

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 10 of 18 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.3+ years Filed as: MASSMUTUAL LIFE INSURANCE COMPANY Service code 49 · EIN 04-1590850	Other Services	$64,923
LPL FINANCIAL3+ years Filed as: LPL FINANCIAL RP Service code 27 · EIN 04-3046611	Advisory (Plan)	$18,734
MID-ATLANTIC PENSION SPECIALISTS1 year Filed as: MID-ATLANTIC PENSION SPECIALISTS IN Service code 13	Contract Administrator	$8,079
MID-ATLANTIC PENSION SPECIALISTS3+ years Service code 13 · EIN 23-2776666	Contract Administrator	$2,274
AMERICAN FUNDS3+ years Service code 52 · EIN 95-6006886	Indirect Investment Fees	$0
CHARLES SCHWAB & CO., INC.1 year Filed as: CHARLES SCHWAB Service code 52 · EIN 94-3106735	Indirect Investment Fees	$0
COLUMBIA3+ years Service code 52 · EIN 56-0906609	Indirect Investment Fees	$0
FIDELITY INVESTMENTS INSTITUTIONAL1 year Filed as: FIDELITY INVESTMENTS Service code 52 · EIN 04-3365630	Indirect Investment Fees	$0
MASSACHUSETTS MUTUAL LIFE INS. CO.3+ years Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 60	Sub-TA Fees	$0
MFS INVESTMENT MANAGEMENT1 year Service code 52	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2J2K2F2G3D2T3H

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.
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

5 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 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).

Expense breakdown

Schedule H Part II

Admin total

$86K

$69 / participant

Contract admin$84K97.4%
Other / not subdivided$2K2.6%

% of EOY assets

0.704%

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: SCHMIDT WESTERGARD & CO., PLLC
Auditor EIN: 860271207
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$19,459

$105,581-81.6%

$70,494-72.4%

$90,274-78.4%

Participation rate

38.9%

77.5%-38.7pp

75.1%-36.2pp

73.4%-34.5pp

Annual return

6.49%

14.78%-8.3pp

109.16%-102.7pp

53.97%-47.5pp

Employer contribution / active EE

$1,014

$3,304-69.3%

$2,738-63.0%

$2,523-59.8%

Participant deferral / active EE

$1,329

$3,813-65.1%

$3,711-64.2%

$4,231-68.6%

Admin fee / account holder

$137

$68+103.0%

$3,848-96.4%

$114+20.2%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.3+ years

Filed as: MASSMUTUAL LIFE INSURANCE COMPANY

Service code 49 · EIN 04-1590850

Other Services

$64,923

LPL FINANCIAL3+ years

Filed as: LPL FINANCIAL RP

Service code 27 · EIN 04-3046611

Advisory (Plan)

$18,734

MID-ATLANTIC PENSION SPECIALISTS1 year

Filed as: MID-ATLANTIC PENSION SPECIALISTS IN

Service code 13

Contract Administrator

$8,079

MID-ATLANTIC PENSION SPECIALISTS3+ years

Service code 13 · EIN 23-2776666

Contract Administrator

$2,274

AMERICAN FUNDS3+ years

Service code 52 · EIN 95-6006886

Indirect Investment Fees

CHARLES SCHWAB & CO., INC.1 year

Filed as: CHARLES SCHWAB

Service code 52 · EIN 94-3106735

Indirect Investment Fees

COLUMBIA3+ years

Service code 52 · EIN 56-0906609

Indirect Investment Fees

FIDELITY INVESTMENTS INSTITUTIONAL1 year

Filed as: FIDELITY INVESTMENTS

Service code 52 · EIN 04-3365630

Indirect Investment Fees

MASSACHUSETTS MUTUAL LIFE INS. CO.3+ years

Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE

Service code 60

Sub-TA Fees

MFS INVESTMENT MANAGEMENT1 year

Service code 52

Indirect Investment Fees

LEGACY TRADITIONAL SCHOOLS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LEGACY TRADITIONAL SCHOOLS 401(K) 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