Retirement plan

SARASOTA CLASSIFIED/TEACHERS ASSOCIATION 401K PLAN

Name: SARASOTA CLASSIFIED/TEACHERS ASSOC - SARASOTA CLASSIFIED/TEACHERS ASSOCIATION 401K PLAN (2023) Form 5500
Creator: SARASOTA CLASSIFIED/TEACHERS ASSOC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SARASOTA CLASSIFIED/TEACHERS ASSOCIATION 401K PLAN, SARASOTA CLASSIFIED/TEACHERS ASSOC

SARASOTA CLASSIFIED/TEACHERS ASSOCEIN 59-1147342Plan #002PY 2023

4675 S TAMIAMI TRL - SARASOTA, FL 342313416941-922-9022sctaonline.orgLinkedIn1-10 employeeseducation management

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$3.3M

+22.7% from 2022

Total participants

+20.0% from 2022

Average account balance

$542,866

+2.2% from 2022

Annual return

15.26%

+29.87 pp from 2022

Benchmarks

See 41,776 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort41,776 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.82M

Not enough data

1 years with asset history on file

Average account balance

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

$546K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$198K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$28K

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

+20.20%

Not enough data

1 years with return on file

Admin fee / account holder

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

$47459

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 codes2E2G2J3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$35K

$7071 / participant

Other / not subdivided$35K100.0%

% of EOY assets

1.086%

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

$542,866

$96,691+461.4%

$86,656+526.5%

$139,487+289.2%

Participation rate

100.0%

74.4%+25.6pp

71.7%+28.3pp

80.3%+19.7pp

Annual return

15.26%

106.87%-91.6pp

593.09%-577.8pp

373.84%-358.6pp

Employer contribution / active EE

$34,784

$3,267+964.7%

$3,025+1049.7%

$4,755+631.6%

Participant deferral / active EE

$4,700

$4,838-2.8%

$4,439+5.9%

$6,713-30.0%

Admin fee / account holder

$5,893

$6,414-8.1%

$5,619+4.9%

$11,407-48.3%

SARASOTA CLASSIFIED/TEACHERS ASSOCIATION 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SARASOTA CLASSIFIED/TEACHERS ASSOCIATION 401K 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