Retirement plan

THE ACADEMY CHARTER SCHOOL 401(K) PLAN

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

THE ACADEMY CHARTER SCHOOLEIN 80-0353508Plan #001PY 2024

117 NORTH FRANKLIN STREET - HEMPSTEAD, NY 11550212-786-7900academycharterschool.orgLinkedIn201-500 employeeseducation management

Prospect flagsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$14.1M

+33.3% from 2023

Total participants

853

+31.0% from 2023

Average account balance

$36,600

+12.9% from 2023

Annual return

17.88%

-2.40 pp from 2023

Benchmarks

See 955 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants250-999

Cohort955 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$14.09M

Not enough data

1 years with asset history on file

Average account balance

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

$37K

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.

385

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.

42.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.85M

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

+17.88%

Not enough data

1 years with return on file

Admin fee / account holder

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

$228

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 1 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY10+ years Service code 13 · EIN 42-0127290	Contract Administrator	$87,664

Plan features & details

Pension benefit codes2F2G2J2T3D3H

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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$88K

$108 / participant

Recordkeeping$88K100.0%

% of EOY assets

0.622%

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: NCHENG LLP
Auditor EIN: 810926770
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$36,600

$91,621-60.1%

$67,511-45.8%

$77,671-52.9%

Participation rate

42.3%

76.0%-33.7pp

72.9%-30.6pp

70.6%-28.3pp

Annual return

17.88%

14.87%+3.0pp

3517.41%-3499.5pp

31.21%-13.3pp

Employer contribution / active EE

$1,217

$3,184-61.8%

$2,733-55.5%

$2,726-55.4%

Participant deferral / active EE

$2,299

$3,906-41.1%

$4,000-42.5%

$4,648-50.5%

Admin fee / account holder

$228

$176+29.2%

$3,999-94.3%

$430-47.1%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY10+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$87,664

THE ACADEMY CHARTER SCHOOL 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE ACADEMY CHARTER SCHOOL 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