Retirement plan

CHARLOTTE LATIN SCHOOLS, INC. RETIREMENT INCOME PLAN

Name: CHARLOTTE LATIN SCHOOLS, INC. - CHARLOTTE LATIN SCHOOLS, INC. RETIREMENT INCOME PLAN (2019) Form 5500
Creator: CHARLOTTE LATIN SCHOOLS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CHARLOTTE LATIN SCHOOLS, INC. RETIREMENT INCOME PLAN, CHARLOTTE LATIN SCHOOLS, INC.

CHARLOTTE LATIN SCHOOLS, INC.EIN 56-0944449Plan #002PY 2019

9502 PROVIDENCE ROAD - CHARLOTTE, NC 282778695704-846-1100charlottelatin.orgLinkedIn201-500 employeeseducation management

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$46.7M

+6.8% from 2018

Total participants

386

+4.0% from 2018

Average account balance

$120,988

+2.7% from 2018

Annual return

5.68%

-4.08 pp from 2018

Benchmarks

See 946 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants250-999

Cohort946 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$59.55M

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.

473

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.

99.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.18M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+11.98%

Not enough data

1 years with return on file

Admin fee / account holder

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

$184

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
TRANSAMERICA RETIREMENT SOLUTIONS4+ years Service code 12 · EIN 13-3689044	Direct payment from the plan; Investm...	$126,984
VOYA RETIREMENT INSURANCE & ANNUITY4+ years Filed as: VOYA FINANCIAL ADVISORS, INC. Service code 16 909 LOCUST STREET · DES MOINES, IA 50309	Consulting	$78,665
NATIONAL FINANCIAL SERVICES4+ years Service code 33 · EIN 04-3523567	Securities brokerage; Securities brok...	$0

Plan features & details

Pension benefit codes2G2L2M2T

Plan features

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.
2L
Code section 403(b)(1) arrangement
Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$127K

$504 / participant

Other / not subdivided$127K100.0%

% of EOY assets

0.272%

all-in expense ratio

Categories reported

0 / 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: CHERRY BEKAERT LLP
Auditor EIN: 560574444
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$120,988

$95,542+26.6%

$69,483+74.1%

$67,582+79.0%

Participation rate

100.0%

79.4%+20.6pp

74.6%+25.4pp

71.3%+28.7pp

Annual return

5.68%

17.67%-12.0pp

28.99%-23.3pp

378.57%-372.9pp

Employer contribution / active EE

$5,730

$2,989+91.7%

$2,780+106.1%

$2,148+166.8%

Participant deferral / active EE

$5,370

$3,263+64.6%

$3,537+51.8%

$3,539+51.7%

Admin fee / account holder

$329

$90+266.2%

$3,841-91.4%

$142+131.2%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS4+ years

Service code 12 · EIN 13-3689044

Direct payment from the plan; Investm...

$126,984

VOYA RETIREMENT INSURANCE & ANNUITY4+ years

Filed as: VOYA FINANCIAL ADVISORS, INC.

Service code 16

909 LOCUST STREET · DES MOINES, IA 50309

Consulting

$78,665

NATIONAL FINANCIAL SERVICES4+ years

Service code 33 · EIN 04-3523567

Securities brokerage; Securities brok...

CHARLOTTE LATIN SCHOOLS, INC. RETIREMENT INCOME PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CHARLOTTE LATIN SCHOOLS, INC. RETIREMENT INCOME 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