Retirement plan

CHANCELIGHT INC 401K PROFIT SHARING PLAN & TRUST

Name: CHANCELIGHT, INC. - CHANCELIGHT INC 401K PROFIT SHARING PLAN & TRUST (2019) Form 5500
Creator: CHANCELIGHT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CHANCELIGHT INC 401K PROFIT SHARING PLAN & TRUST, CHANCELIGHT, INC.

CHANCELIGHT, INC.EIN 52-2185876Plan #001PY 2019

1321 MURFREESBORO PIKE, SUITE 702 - NASHVILLE, TN 37217615-577-5670

Prospect flagsLow participationLow employer contributionLow participant contributionCorrective distributions

How to read this page

Total assets (EOY)

$17.4M

+12.8% from 2018

Total participants

2,216

-33.4% from 2018

Average account balance

$26,181

+14.1% from 2018

Annual return

21.65%

+27.60 pp from 2018

Benchmarks

See 266 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort266 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$24.83M

Not enough data

1 years with asset history on file

Average account balance

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

$44K

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.

566

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.

22.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.91M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+14.61%

Not enough data

1 years with return on file

Admin fee / account holder

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

$273

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 7 by compensation

Provider	Service type	Compensation
RAYMOND JAMES FINANCIAL SERVICES1 year Filed as: RAYMOND JAMES AND ASOCIATES Service code 99	Other Fees	$24,136
ASCENSUS LLC1 year Filed as: ACCESS RETIREMENT SERVICES, LLC Service code 49 · EIN 62-1700633	Other Services	$23,431
RAYMOND JAMES FINANCIAL SERVICES3 years Filed as: RAYMOND JAMES & ASSOCIATES, INC. Service code 27 · EIN 59-1237041	Advisory (Plan)	$20,260
TRANSAMERICA RETIREMENT SOLUTIONS5+ years Service code 15 · EIN 13-3689044	Recordkeeping	$18,329
CROWE LLP1 year Filed as: CROWE, LLP Service code 10 · EIN 35-0921680	Accounting	$10,500
SKIBBIE CPA, INC.1 year Filed as: SKIBBIE, CPA Service code 10 · EIN 33-3000333	Accounting	$7,500
UKG INC1 year Filed as: ULTIMATE SOFTWARE GROUP, INC. Service code 10 PO BOX 930953 · ATLANTA, GA 311930953	Accounting	$5,000

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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

4 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 employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$162K

$80 / participant

Investment mgmt$162K100.0%

% of EOY assets

0.927%

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: SKIBBIE CPA INC.
Auditor EIN: 270851321
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$26,181

$204,517-87.2%

$69,483-62.3%

$77,775-66.3%

Participation rate

23.0%

74.6%-51.6pp

73.2%-50.2pp

Annual return

21.65%

22.10%-0.4pp

28.99%-7.3pp

32.58%-10.9pp

Employer contribution / active EE

$146

$3,548-95.9%

$2,780-94.8%

$2,504-94.2%

Participant deferral / active EE

$876

$3,478-74.8%

$3,537-75.2%

$3,966-77.9%

Admin fee / account holder

$243

$101+141.4%

$3,841-93.7%

$100+142.6%

Provider

Service type

Compensation

RAYMOND JAMES FINANCIAL SERVICES1 year

Filed as: RAYMOND JAMES AND ASOCIATES

Service code 99

Other Fees

$24,136

ASCENSUS LLC1 year

Filed as: ACCESS RETIREMENT SERVICES, LLC

Service code 49 · EIN 62-1700633

Other Services

$23,431

RAYMOND JAMES FINANCIAL SERVICES3 years

Filed as: RAYMOND JAMES & ASSOCIATES, INC.

Service code 27 · EIN 59-1237041

Advisory (Plan)

$20,260

TRANSAMERICA RETIREMENT SOLUTIONS5+ years

Service code 15 · EIN 13-3689044

Recordkeeping

$18,329

CROWE LLP1 year

Filed as: CROWE, LLP

Service code 10 · EIN 35-0921680

Accounting

$10,500

SKIBBIE CPA, INC.1 year

Filed as: SKIBBIE, CPA

Service code 10 · EIN 33-3000333

Accounting

$7,500

UKG INC1 year

Filed as: ULTIMATE SOFTWARE GROUP, INC.

Service code 10

PO BOX 930953 · ATLANTA, GA 311930953

Accounting

$5,000

CHANCELIGHT INC 401K PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CHANCELIGHT INC 401K PROFIT SHARING PLAN & TRUST

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