Retirement plan

THE INDEPENDENCE SCHOOL, INC. 403(B) PLAN

Name: THE INDEPENDENCE SCHOOL, INC. - THE INDEPENDENCE SCHOOL, INC. 403(B) PLAN (2024) Form 5500
Creator: THE INDEPENDENCE SCHOOL, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE INDEPENDENCE SCHOOL, INC. 403(B) PLAN, THE INDEPENDENCE SCHOOL, INC.

THE INDEPENDENCE SCHOOL, INC.EIN 51-0225189Plan #001PY 2024

1300 PAPER MILL ROAD - NEWARK, DE 197113408302-239-0330theindependenceschool.orgLinkedIn51-200 employeesprimary/secondary education

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$22.7M

+6.4% from 2023

Total participants

226

-1.3% from 2023

Average account balance

$125,602

+10.0% from 2023

Annual return

13.39%

-3.69 pp from 2023

Benchmarks

See 1,573 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants100-249

Cohort1,573 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$22.73M

Not enough data

1 years with asset history on file

Average account balance

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

$126K

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.

181

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.

62.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$658K

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

+13.39%

Not enough data

1 years with return on file

Admin fee / account holder

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

$440

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 3 by compensation

Provider	Service type	Compensation
THE VANGUARD GROUP, INC.2 years Filed as: THE VANGUARD GROUP Service code 64 · EIN 23-1945930	Recordkeeping Fees	$41,098
TIAA1 year Service code 64 · EIN 13-1624203	Recordkeeping Fees	$37,510
BIDDLE CAPITAL MANAGEMENT2 years Service code 27 5807 KENNETT PIKE · WILMINGTON, DE 19807	Advisory (Plan)	$1,000

Plan features & details

Pension benefit codes2E2F2G2J2K2T

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.

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$80K

$658 / participant

Investment mgmt$1K1.3%
Contract admin$79K98.7%

% of EOY assets

0.350%

all-in expense ratio

Categories reported

2 / 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: BELFINT, LYONS, & SHUMAN, P.A.
Auditor EIN: 510232399
Audit fees: $0
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$125,602

$69,708+80.2%

$67,560+85.9%

$74,478+68.6%

Participation rate

62.8%

71.4%-8.6pp

72.9%-10.1pp

67.2%-4.4pp

Annual return

13.39%

-40.67%+54.1pp

3533.50%-3520.1pp

1370.56%-1357.2pp

Employer contribution / active EE

$2,023

$2,715-25.5%

$2,737-26.1%

$2,626-23.0%

Participant deferral / active EE

$3,416

$3,637-6.1%

$4,004-14.7%

$4,350-21.5%

Admin fee / account holder

$440

$887-50.4%

$3,994-89.0%

$1,946-77.4%

Provider

Service type

Compensation

THE VANGUARD GROUP, INC.2 years

Filed as: THE VANGUARD GROUP

Service code 64 · EIN 23-1945930

Recordkeeping Fees

$41,098

TIAA1 year

Service code 64 · EIN 13-1624203

Recordkeeping Fees

$37,510

BIDDLE CAPITAL MANAGEMENT2 years

Service code 27

5807 KENNETT PIKE · WILMINGTON, DE 19807

Advisory (Plan)

$1,000

THE INDEPENDENCE SCHOOL, INC. 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE INDEPENDENCE SCHOOL, INC. 403(B) 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