Retirement plan

CHOICE SCHOOLS PROFIT SHARING PLAN

Name: CHOICE SCHOOLS ASSOCIATES LLC - CHOICE SCHOOLS PROFIT SHARING PLAN (2020) Form 5500
Creator: CHOICE SCHOOLS ASSOCIATES LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CHOICE SCHOOLS PROFIT SHARING PLAN, CHOICE SCHOOLS ASSOCIATES LLC

CHOICE SCHOOLS ASSOCIATES LLCEIN 52-2113308Plan #001PY 2020

5251 CLYDE PARK SW - WYOMING, MI 49509616-785-8440choiceschools.comLinkedIn501-1000 employeeseducation management

Prospect flagsLow assets / participantCorrective distributions

How to read this page

Total assets (EOY)

$15.2M

+25.3% from 2019

Total participants

910

-2.6% from 2019

Average account balance

$17,362

+12.2% from 2019

Annual return

14.35%

-12.70 pp from 2019

Benchmarks

See 929 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants250-999

Cohort929 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$24.12M

Not enough data

1 years with asset history on file

Average account balance

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

$21K

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.

1,161

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.

88.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.29M

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

+11.55%

Not enough data

1 years with return on file

Admin fee / account holder

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

$126

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
BLUEWATER ASSET MANAGEMENT6+ years Service code 28 4120 EAST BELTLINE AVENUE,SUITE 100 · GRAND RAPIDS, MI 49525	Investment Management	$49,257
PENSERV PLAN SERVICES, INC.6+ years Service code 15 P.O. BOX 7248 · COLUMBIA, SC 29202	Recordkeeping	$47,410
HUNGERFORD NICHOLS1 year Service code 10 · EIN 38-2184825	Accounting	$10,500

Plan features & details

Pension benefit codes2E2G2J2K2F2S2T3D3H

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.
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

2 tripped

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$109K

$137 / participant

Investment mgmt$51K46.7%
Contract admin$58K53.3%

% of EOY assets

0.713%

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

$17,362

$84,948-79.6%

$70,494-75.4%

$73,412-76.3%

Participation rate

96.0%

79.9%+16.0pp

75.1%+20.9pp

72.2%+23.8pp

Annual return

14.35%

13.39%+1.0pp

109.16%-94.8pp

59.30%-44.9pp

Employer contribution / active EE

$1,052

$2,834-62.9%

$2,738-61.6%

$2,234-52.9%

Participant deferral / active EE

$1,902

$3,387-43.9%

$3,711-48.7%

$3,806-50.0%

Admin fee / account holder

$124

$98+26.1%

$3,848-96.8%

$158-21.6%

Provider

Service type

Compensation

BLUEWATER ASSET MANAGEMENT6+ years

Service code 28

4120 EAST BELTLINE AVENUE,SUITE 100 · GRAND RAPIDS, MI 49525

Investment Management

$49,257

PENSERV PLAN SERVICES, INC.6+ years

Service code 15

P.O. BOX 7248 · COLUMBIA, SC 29202

Recordkeeping

$47,410

HUNGERFORD NICHOLS1 year

Service code 10 · EIN 38-2184825

Accounting

$10,500

CHOICE SCHOOLS PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CHOICE SCHOOLS PROFIT SHARING 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