Retirement plan

HERITAGE SCHOOLS, INC. 401(K) PLAN

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

HERITAGE SCHOOLS, INC.EIN 87-0514958Plan #001PY 2024

5600 N HERITAGE SCHOOL DR - PROVO, UT 84604801-226-4600

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$7.7M

+11.2% from 2023

Total participants

262

-2.2% from 2023

Average account balance

$59,992

+29.5% from 2023

Annual return

14.50%

-4.54 pp from 2023

Benchmarks

See 5,993 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants100-249

Cohort5,993 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.68M

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.

128

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.

31.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$458K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+14.50%

Not enough data

1 years with return on file

Admin fee / account holder

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

$325

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 3 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$35,813
KESTRA INVESTMENT SERVICES LLC9 years Service code 55 5707 SOUTHWEST PKWY · AUSTIN, TX 78735	Other Commissions	$20,985
KESTRA INVESTMENT SERVICES LLC1 year Filed as: KESTRA ADVISORY SERVICES LLC Service code 27 5707 SWST PRKWY BLDG 2 · AUSTIN, TX 78735	Advisory (Plan)	$5,758

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.
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.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$42K

$213 / participant

Recordkeeping$36K86.1%
Investment mgmt$6K13.9%

% of EOY assets

0.541%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: OSBORNE, ROBBINS, & BUHLER PLLC
Auditor EIN: 870502712
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$59,992

$55,470+8.2%

$155,556-61.4%

$74,478-19.4%

Participation rate

31.3%

61.9%-30.6pp

78.2%-46.9pp

67.2%-35.9pp

Annual return

14.50%

269.80%-255.3pp

64.84%-50.3pp

1370.56%-1356.1pp

Employer contribution / active EE

$863

$2,267-61.9%

$4,675-81.5%

$2,626-67.1%

Participant deferral / active EE

$1,484

$2,838-47.7%

$5,631-73.6%

$4,350-65.9%

Admin fee / account holder

$325

$1,744-81.4%

$15,885-98.0%

$1,946-83.3%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$35,813

KESTRA INVESTMENT SERVICES LLC9 years

Service code 55

5707 SOUTHWEST PKWY · AUSTIN, TX 78735

Other Commissions

$20,985

KESTRA INVESTMENT SERVICES LLC1 year

Filed as: KESTRA ADVISORY SERVICES LLC

Service code 27

5707 SWST PRKWY BLDG 2 · AUSTIN, TX 78735

Advisory (Plan)

$5,758

HERITAGE SCHOOLS, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HERITAGE SCHOOLS, INC. 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