Retirement plan

HARMONY DC PUBLIC CHARTER SCHOOL 401(K) PLAN

Name: HARMONY DC PUBLIC CHARTER SCHOOL - HARMONY DC PUBLIC CHARTER SCHOOL 401(K) PLAN (2023) Form 5500
Creator: HARMONY DC PUBLIC CHARTER SCHOOL
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HARMONY DC PUBLIC CHARTER SCHOOL 401(K) PLAN, HARMONY DC PUBLIC CHARTER SCHOOL

HARMONY DC PUBLIC CHARTER SCHOOLEIN 46-5320551Plan #001PY 2023

62 T STREET NE - WASHINGTON, DC 20002202-487-7934harmonydc.orgLinkedIn1-10 employees

Prospect flagsHigh feesLow assets / participantLow fidelity bond

How to read this page

Total assets (EOY)

$497K

+50.2% from 2022

Total participants

+20.3% from 2022

Average account balance

$5,402

+7.8% from 2022

Annual return

19.00%

+38.73 pp from 2022

Benchmarks

See 4,420 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants25-99

Cohort4,420 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$519K

Not enough data

1 years with asset history on file

Average account balance

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

$5K

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.

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.

255.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$110K

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

+11.85%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1599

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 codes2E2F2G2J2T3D

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.

Opportunity flags

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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

$65K

$1586 / participant

Other / not subdivided$65K100.0%

% of EOY assets

13.083%

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

$5,402

$46,599-88.4%

$64,101-91.6%

$75,173-92.8%

Participation rate

92.7%

65.9%+26.7pp

72.3%+20.4pp

67.2%+25.5pp

Annual return

19.00%

26.06%-7.1pp

33.72%-14.7pp

160.72%-141.7pp

Employer contribution / active EE

$2,881

$1,975+45.8%

$2,749+4.8%

$2,671+7.9%

Participant deferral / active EE

$936

$2,837-67.0%

$3,881-75.9%

$4,126-77.3%

Admin fee / account holder

$707

$2,956-76.1%

$3,070-77.0%

$5,651-87.5%

HARMONY DC PUBLIC CHARTER SCHOOL 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HARMONY DC PUBLIC CHARTER SCHOOL 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