Retirement plan

HARDING ACADEMY OF MEMPHIS,INC. CONTRIBUTORY TAX SHELTERED ANNUITY

Name: HARDING ACADEMY OF MEMPHIS, INC. - HARDING ACADEMY OF MEMPHIS,INC. CONTRIBUTORY TAX SHELTERED ANNUITY (2021) Form 5500
Creator: HARDING ACADEMY OF MEMPHIS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HARDING ACADEMY OF MEMPHIS,INC. CONTRIBUTORY TAX SHELTERED ANNUITY, HARDING ACADEMY OF MEMPHIS, INC.

HARDING ACADEMY OF MEMPHIS, INC.EIN 58-1314356Plan #002PY 2021

1100 CHERRY RD - MEMPHIS, TN 38117901-683-2440hardingacademymemphis.orgLinkedIn51-200 employeesprimary/secondary education

Prospect flagsLow participationLow participant contribution

How to read this page

Total assets (EOY)

$17.3M

+21.6% from 2020

Total participants

317

+30.5% from 2020

Average account balance

$152,062

+24.8% from 2020

Annual return

29.36%

+22.40 pp from 2020

Benchmarks

See 922 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants250-999

Cohort922 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$14.70M

Not enough data

1 years with asset history on file

Average account balance

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

$135K

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.

109

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.

24.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$169K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$743

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

+14.75%

Not enough data

1 years with return on file

Admin fee / account holder

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

$318

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

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Service providers

Top 1 by compensation

Provider	Service type	Compensation
SUNTRUST BANKS, INC.4 years Filed as: BRANCH BANKING AND TRUST Service code 21 · EIN 56-1368984	Bank Trustee	$22,943

Plan features & details

Pension benefit codes2M2G2F2T3D2K

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.
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.
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.

Opportunity flags

2 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.

Expense breakdown

Schedule H Part II

Admin total

$23K

$86 / participant

Contract admin$23K100.0%

% of EOY assets

0.132%

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: HENDERSON, HUTCHERSON & MCCULLOUGH,
Auditor EIN: 621114363
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$152,062

$94,833+60.3%

$75,714+100.8%

$86,821+75.1%

Participation rate

24.0%

79.1%-55.1pp

74.8%-50.9pp

72.3%-48.3pp

Annual return

29.36%

16.91%+12.4pp

104.62%-75.3pp

97.94%-68.6pp

Employer contribution / active EE

$2,904-100.0%

$2,744-100.0%

$2,406-100.0%

Participant deferral / active EE

$810

$3,632-77.7%

$3,820-78.8%

$4,132-80.4%

Admin fee / account holder

$201

$109+85.3%

$3,619-94.4%

$170+18.7%

Provider

Service type

Compensation

SUNTRUST BANKS, INC.4 years

Filed as: BRANCH BANKING AND TRUST

Service code 21 · EIN 56-1368984

Bank Trustee

$22,943

HARDING ACADEMY OF MEMPHIS,INC. CONTRIBUTORY TAX SHELTERED ANNUITY

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HARDING ACADEMY OF MEMPHIS,INC. CONTRIBUTORY TAX SHELTERED ANNUITY

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