Retirement plan

THE CENGAGE LEARNING, INC. 401(K) SAVINGS PLAN

Name: CENGAGE LEARNING, INC. - THE CENGAGE LEARNING, INC. 401(K) SAVINGS PLAN (2023) Form 5500
Creator: CENGAGE LEARNING, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE CENGAGE LEARNING, INC. 401(K) SAVINGS PLAN, CENGAGE LEARNING, INC.

CENGAGE LEARNING, INC.EIN 59-2124491Plan #001PY 2023

5191 NATORP BLVD - MASON, OH 45040513-229-1000

Other plans on this EIN

1 filing

#002Retirement-$637K assets

Prospect flagsCorrective distributions

How to read this page

Total assets (EOY)

$595.6M

+17.9% from 2022

Total participants

5,438

-4.0% from 2022

Average account balance

$113,110

+21.3% from 2022

Annual return

19.15%

+35.20 pp from 2022

Benchmarks

See 175 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants1,000-4,999

Cohort175 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$660.10M

Not enough data

1 years with asset history on file

Average account balance

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

$132K

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.

4,985

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.

96.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$41.64M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+13.95%

Not enough data

1 years with return on file

Admin fee / account holder

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

$87

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 4 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL9+ years Service code 37 · EIN 04-2647786	Loan Processing	$184,579
STRATEGIC ADVISORS, INC.7 years Service code 27 · EIN 04-2654524	Advisory (Plan)	$93,943
CAPFINANCIAL PARTNERS LLC2 years Filed as: CAPTRUST FINANCIAL ADVISORS Service code 26 · EIN 26-0058143	Advisory (Participants)	$90,000
COHNREZNICK LLP3 years Service code 10 · EIN 22-1478099	Accounting	$29,400

Plan features & details

Pension benefit codes2F2G2J2K2T3F2E

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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.
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.
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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.

Opportunity flags

1 tripped

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$398K

$116 / participant

Recordkeeping$184K46.2%
Investment mgmt$94K23.6%
Contract admin$9000.2%
Other / not subdivided$119K30.0%

% of EOY assets

0.067%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: COHNREZNICK LLP
Auditor EIN: 221478099
Audit fees: $29,400
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$113,110

$103,918+8.8%

$94,679+19.5%

$80,149+41.1%

Participation rate

95.0%

85.8%+9.1pp

80.8%+14.1pp

72.9%+22.0pp

Annual return

19.15%

27.77%-8.6pp

156.75%-137.6pp

40.39%-21.2pp

Employer contribution / active EE

$3,420

$3,539-3.4%

$3,673-6.9%

$2,977+14.9%

Participant deferral / active EE

$9,119

$9,528-4.3%

$7,417+22.9%

$5,015+81.8%

Admin fee / account holder

$76

$96-21.6%

$7,233-99.0%

$145-47.9%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL9+ years

Service code 37 · EIN 04-2647786

Loan Processing

$184,579

STRATEGIC ADVISORS, INC.7 years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$93,943

CAPFINANCIAL PARTNERS LLC2 years

Filed as: CAPTRUST FINANCIAL ADVISORS

Service code 26 · EIN 26-0058143

Advisory (Participants)

$90,000

COHNREZNICK LLP3 years

Service code 10 · EIN 22-1478099

Accounting

$29,400

THE CENGAGE LEARNING, INC. 401(K) SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE CENGAGE LEARNING, INC. 401(K) SAVINGS 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