Retirement plan

NORTH RALEIGH CHRISTIAN ACADEMY, INC. 403(B) PLAN

Name: NORTH RALEIGH CHRISTIAN ACADEMY, INC. - NORTH RALEIGH CHRISTIAN ACADEMY, INC. 403(B) PLAN (2018) Form 5500
Creator: NORTH RALEIGH CHRISTIAN ACADEMY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NORTH RALEIGH CHRISTIAN ACADEMY, INC. 403(B) PLAN, NORTH RALEIGH CHRISTIAN ACADEMY, INC.

NORTH RALEIGH CHRISTIAN ACADEMY, INC.EIN 56-1975907Plan #005PY 2018

7300 PERRY CREEK ROAD - RALEIGH, NC 27616919-573-7900

Prospect flagsHigh feesCorrective distributions

How to read this page

Total assets (EOY)

$7.3M

+16.6% from 2017

Total participants

126

-2.3% from 2017

Average account balance

$68,317

+18.8% from 2017

Annual return

6.44%

-2.76 pp from 2017

Benchmarks

See 1,431 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants100-249

Cohort1,431 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$12.44M

Not enough data

1 years with asset history on file

Average account balance

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

$110K

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.

113

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.

85.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$973K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+13.45%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4034

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

Top 4 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.3+ years Filed as: MASS MUTUAL LIFE INSURANCE COMPANY Service code 52 · EIN 04-1590850	Indirect Investment Fees	$55,193
LPL FINANCIAL2 years Filed as: LPL FINANCIAL, LLC Service code 27	Advisory (Plan)	$18,773
EPIC RETIREMENT PLAN SERVICES2 years Filed as: RETIREMENT PLAN SOLUTIONS Service code 13 · EIN 56-1762637	Contract Administrator	$3,945
LPL FINANCIAL2 years Service code 27 · EIN 04-3046611	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2L2K2F2G

Plan features

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

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$55K

$541 / participant

Contract admin$55K100.0%

% of EOY assets

0.755%

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: THOMAS, JUDY & TUCKER
Auditor EIN: 561965804
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$68,317

$55,002+24.2%

$59,899+14.1%

$56,289+21.4%

Participation rate

81.4%

75.9%+5.5pp

74.7%+6.7pp

69.9%+11.5pp

Annual return

6.44%

1.13%+5.3pp

3.46%+3.0pp

-9.96%+16.4pp

Employer contribution / active EE

$3,234

$2,448+32.1%

$2,723+18.8%

$2,111+53.2%

Participant deferral / active EE

$3,827

$3,121+22.6%

$3,402+12.5%

$3,350+14.2%

Admin fee / account holder

$516

$236+118.8%

$3,592-85.6%

$521-1.0%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.3+ years

Filed as: MASS MUTUAL LIFE INSURANCE COMPANY

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$55,193

LPL FINANCIAL2 years

Filed as: LPL FINANCIAL, LLC

Service code 27

Advisory (Plan)

$18,773

EPIC RETIREMENT PLAN SERVICES2 years

Filed as: RETIREMENT PLAN SOLUTIONS

Service code 13 · EIN 56-1762637

Contract Administrator

$3,945

LPL FINANCIAL2 years

Service code 27 · EIN 04-3046611

Advisory (Plan)

NORTH RALEIGH CHRISTIAN ACADEMY, INC. 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NORTH RALEIGH CHRISTIAN ACADEMY, 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