Retirement plan

MOUNT CARMEL ACADEMY 401(K) PLAN

Name: MOUNT CARMEL ACADEMY, INC. - MOUNT CARMEL ACADEMY 401(K) PLAN (2022) 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 2022

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

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$8.1M

-10.5% from 2021

Total participants

315

+5.4% from 2021

Average account balance

$28,276

-13.0% from 2021

Annual return

-16.73%

-33.03 pp from 2021

Benchmarks

See 1,743 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants100-249

Cohort1,743 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$13.48M

Not enough data

1 years with asset history on file

Average account balance

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

$45K

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.

300

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

$833K

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

+10.64%

Not enough data

1 years with return on file

Admin fee / account holder

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

$19

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

$854

$5 / participant

Contract admin$854100.0%

% of EOY assets

0.011%

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

$28,276

$51,226-44.8%

$82,706-65.8%

$66,930-57.8%

Participation rate

83.2%

67.9%+15.4pp

72.6%+10.7pp

69.8%+13.4pp

Annual return

-16.73%

-9.61%-7.1pp

701.76%-718.5pp

1.57%-18.3pp

Employer contribution / active EE

$2,109

$2,612-19.3%

$3,007-29.9%

$2,545-17.1%

Participant deferral / active EE

$1,784

$3,460-48.4%

$4,394-59.4%

$4,238-57.9%

Admin fee / account holder

$416-99.3%

$5,329-99.9%

$593-99.5%

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