Retirement plan

GLOBAL FINANCIAL AID SERVICES, INC. 401(K) PLAN

Name: GLOBAL FINANCIAL AID SERVICES, INC. - GLOBAL FINANCIAL AID SERVICES, INC. 401(K) PLAN (2015) Form 5500
Creator: GLOBAL FINANCIAL AID SERVICES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GLOBAL FINANCIAL AID SERVICES, INC. 401(K) PLAN, GLOBAL FINANCIAL AID SERVICES, INC.

GLOBAL FINANCIAL AID SERVICES, INC.EIN 64-0891996Plan #001PY 2015

10467 CORPORATE DR. - GULFPORT, MS 395034634228-523-1091globalfas.comLinkedIn51-200 employeeshigher education

Prospect flagsLow participationCorrective distributions

How to read this page

Total assets (EOY)

$2.8M

No prior year

Total participants

145

No prior year

Average account balance

$28,390

No prior year

Annual return

-1.02%

No prior year

Benchmarks

See 856 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants100-249

Cohort856 peers

Snapshot2015

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.58M

Not enough data

1 years with asset history on file

Average account balance

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

$60K

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.

91.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$342K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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)

$20553

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

Top 4 by compensation

Provider	Service type	Compensation
CHARLES SCHWAB & CO., INC.1+ years Filed as: CHARLES SCHWAB TRUST COMPANY Service code 19 · EIN 42-1558009	Securities Custodian	$2,011
CHARLES SCHWAB & CO., INC.1+ years Filed as: CHARLES SCHWAB & CO. INC. Service code 59	Shareholder Servicing	$0
CHARLES SCHWAB & CO., INC.1+ years Service code 59 · EIN 94-1737782	Shareholder Servicing	$0
HANCOCK WHITNEY BANK1+ years Filed as: HANCOCK BANK Service code 15 · EIN 64-0169065	Recordkeeping	$0

Plan features & details

Pension benefit codes2E2G2J2K3D

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

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: WEWORSKI & ASSOCIATES
Auditor EIN: 330516783
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$28,390

$31,109-8.7%

$67,704-58.1%

$52,331-45.7%

Participation rate

62.0%

54.0%+8.0pp

67.5%-5.5pp

68.1%-6.1pp

Annual return

-1.02%

23.70%-24.7pp

25.41%-26.4pp

4.54%-5.6pp

Employer contribution / active EE

$176

$1,076-83.7%

$2,559-93.1%

$1,882-90.7%

Participant deferral / active EE

$1,238

$1,970-37.2%

$3,585-65.5%

$3,022-59.0%

Admin fee / account holder

$466-100.0%

$4,255-100.0%

$592-100.0%

Provider

Service type

Compensation

CHARLES SCHWAB & CO., INC.1+ years

Filed as: CHARLES SCHWAB TRUST COMPANY

Service code 19 · EIN 42-1558009

Securities Custodian

$2,011

CHARLES SCHWAB & CO., INC.1+ years

Filed as: CHARLES SCHWAB & CO. INC.

Service code 59

Shareholder Servicing

CHARLES SCHWAB & CO., INC.1+ years

Service code 59 · EIN 94-1737782

Shareholder Servicing

HANCOCK WHITNEY BANK1+ years

Filed as: HANCOCK BANK

Service code 15 · EIN 64-0169065

Recordkeeping

GLOBAL FINANCIAL AID SERVICES, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

GLOBAL FINANCIAL AID SERVICES, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion