Retirement plan

CHALLENGE ENTERPRISES OF NORTH FLORIDA, INC. RETIREMENT PLAN

Name: CHALLENGE ENTERPRISES OF NORTH FLORIDA, INC. - CHALLENGE ENTERPRISES OF NORTH FLORIDA, INC. RETIREMENT PLAN (2024) Form 5500
Creator: CHALLENGE ENTERPRISES OF NORTH FLORIDA, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CHALLENGE ENTERPRISES OF NORTH FLORIDA, INC. RETIREMENT PLAN, CHALLENGE ENTERPRISES OF NORTH FLORIDA, INC.

CHALLENGE ENTERPRISES OF NORTH FLORIDA, INC.EIN 59-1478621Plan #001PY 2024

3530 ENTERPRISE WAY - GREEN COVE SPRINGS, FL 32043904-284-9859

Prospect flagsLow participationLow employer contributionLow participant contribution

How to read this page

Total assets (EOY)

$1.8M

-7.5% from 2023

Total participants

300

-3.2% from 2023

Average account balance

$17,478

-11.1% from 2023

Annual return

18.85%

+8.66 pp from 2023

Benchmarks

See 4,117 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort4,117 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.82M

Not enough data

1 years with asset history on file

Average account balance

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

$17K

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.

104

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.

30.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$193K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$687

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

+18.85%

Not enough data

1 years with return on file

Admin fee / account holder

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

$192

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 5 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$9,495
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EDWARD D JONES & CO LP Service code 27 12555 MANCHESTER RD. · ST. LUIS, MO 63131	Advisory (Plan)	$9,098
FIRST PARTY ADMINISTRATOR, LLC9+ years Filed as: FIRST PARTY ADMINISTRATOR Service code 13 · EIN 46-2023154 P.O. BOX 745680 · ATLANTA, GA 303745680	Contract Administrator	$925
FIRST PARTY ADMINISTRATOR, LLC2 years Service code 13	Contract Administrator	$910
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$174

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

3 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.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$20K

$71 / participant

Contract admin$20K100.0%

% of EOY assets

1.101%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BAS PARTNERS LLC
Auditor EIN: 208779390
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$17,478

$50,902-65.7%

$155,534-88.8%

$77,736-77.5%

Participation rate

30.2%

63.1%-32.8pp

78.2%-48.0pp

70.6%-40.3pp

Annual return

18.85%

34.85%-16.0pp

64.92%-46.1pp

31.26%-12.4pp

Employer contribution / active EE

$240

$1,991-88.0%

$4,675-94.9%

$2,728-91.2%

Participant deferral / active EE

$447

$2,824-84.2%

$5,630-92.1%

$4,651-90.4%

Admin fee / account holder

$192

$437-56.0%

$15,900-98.8%

$433-55.6%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$9,495

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EDWARD D JONES & CO LP

Service code 27

12555 MANCHESTER RD. · ST. LUIS, MO 63131

Advisory (Plan)

$9,098

FIRST PARTY ADMINISTRATOR, LLC9+ years

Filed as: FIRST PARTY ADMINISTRATOR

Service code 13 · EIN 46-2023154

P.O. BOX 745680 · ATLANTA, GA 303745680

Contract Administrator

$925

FIRST PARTY ADMINISTRATOR, LLC2 years

Service code 13

Contract Administrator

$910

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$174

CHALLENGE ENTERPRISES OF NORTH FLORIDA, INC. RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CHALLENGE ENTERPRISES OF NORTH FLORIDA, INC. RETIREMENT 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