Retirement plan

MOUNT CARMEL ACADEMY 401(K) PLAN

Name: MOUNT CARMEL ACADEMY, INC. - MOUNT CARMEL ACADEMY 401(K) PLAN (2024) Form 5500
Creator: MOUNT CARMEL ACADEMY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MOUNT CARMEL ACADEMY 401(K) PLAN, MOUNT CARMEL ACADEMY, INC.

MOUNT CARMEL ACADEMY, INC.EIN 72-0655732Plan #001PY 2024

7027 MILNE BLVD. - NEW ORLEANS, LA 70124504-288-7626

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$11.8M

+25.3% from 2023

Total participants

312

-1.0% from 2023

Average account balance

$40,481

+21.9% from 2023

Annual return

21.10%

+9.68 pp from 2023

Benchmarks

See 2,053 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants100-249

Cohort2,053 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.78M

Not enough data

1 years with asset history on file

Average account balance

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

$40K

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.

291

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.

87.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$791K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+21.10%

Not enough data

1 years with return on file

Admin fee / account holder

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

$14

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

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 codes2E2J2F2G3D2T

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.
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.

Opportunity flags

1 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$4K

$25 / participant

Contract admin$4K100.0%

% of EOY assets

0.035%

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: WEGMANN DAZET, APC
Auditor EIN: 720870824
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$40,481

$60,454-33.0%

$81,844-50.5%

$74,459-45.6%

Participation rate

87.1%

63.0%+24.2pp

72.4%+14.7pp

67.2%+19.9pp

Annual return

21.10%

16.87%+4.2pp

778.87%-757.8pp

1369.70%-1348.6pp

Employer contribution / active EE

$2,563

$2,630-2.5%

$2,916-12.1%

$2,626-2.4%

Participant deferral / active EE

$2,287

$3,398-32.7%

$4,323-47.1%

$4,350-47.4%

Admin fee / account holder

$14

$1,490-99.0%

$7,355-99.8%

$1,945-99.3%

MOUNT CARMEL ACADEMY 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MOUNT CARMEL ACADEMY 401(K) 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