Retirement plan

HIGH PRAISE WORSHIP CENTER 403(B) PLAN

Name: HIGH PRAISE WORSHIP CENTER INTERNATIONAL, INC. - HIGH PRAISE WORSHIP CENTER 403(B) PLAN (2024) Form 5500
Creator: HIGH PRAISE WORSHIP CENTER INTERNATIONAL, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HIGH PRAISE WORSHIP CENTER 403(B) PLAN, HIGH PRAISE WORSHIP CENTER INTERNATIONAL, INC.

HIGH PRAISE WORSHIP CENTER INTERNATIONAL, INC.EIN 58-3481287Plan #001PY 2024

7124 E HIGHWAY 22 - PANAMA CITY, FL 324042316850-874-9745highpraiseworshipcenter.comLinkedIn1-10 employeesreligious institutions

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$96K

+51.8% from 2023

Total participants

0.0% from 2023

Average account balance

$9,582

+51.8% from 2023

Annual return

20.82%

+4.75 pp from 2023

Benchmarks

See 49,870 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort49,870 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$96K

Not enough data

1 years with asset history on file

Average account balance

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

$10K

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.

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.

90.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$20K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+20.82%

Not enough data

1 years with return on file

Admin fee / account holder

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

$121

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

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2F2G2L2M2S2T3D3H

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.
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.
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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$1K

$110 / participant

Other / not subdivided$1K100.0%

% of EOY assets

1.262%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$9,582

$88,815-89.2%

$81,882-88.3%

$145,897-93.4%

Participation rate

90.9%

75.1%+15.8pp

72.4%+18.5pp

80.3%+10.6pp

Annual return

20.82%

1033.75%-1012.9pp

779.47%-758.7pp

552.29%-531.5pp

Employer contribution / active EE

$3,086-100.0%

$2,916-100.0%

$4,663-100.0%

Participant deferral / active EE

$1,778

$4,647-61.7%

$4,323-58.9%

$6,689-73.4%

Admin fee / account holder

$121

$8,434-98.6%

$7,360-98.4%

$13,390-99.1%

HIGH PRAISE WORSHIP CENTER 403(B) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HIGH PRAISE WORSHIP CENTER 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