Retirement plan

THE FRANKLIN ACADEMY 403(B) DC AND TDA PLAN

Name: THE FRANKLIN ACADEMY - THE FRANKLIN ACADEMY 403(B) DC AND TDA PLAN (2024) Form 5500
Creator: THE FRANKLIN ACADEMY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE FRANKLIN ACADEMY 403(B) DC AND TDA PLAN, THE FRANKLIN ACADEMY

THE FRANKLIN ACADEMYEIN 91-1434401Plan #001PY 2024

1509 E. VICTOR STREET - BELLINGHAM, WA 98225360-733-1750thefranklin.academyLinkedIn1-10 employees

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$1.6M

-7.6% from 2023

Total participants

+7.5% from 2023

Average account balance

$27,744

-14.2% from 2023

Annual return

10.33%

-1.29 pp from 2023

Benchmarks

See 4,475 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants25-99

Cohort4,475 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.92M

Not enough data

1 years with asset history on file

Average account balance

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

$33K

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.

148.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$208K

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

+10.89%

Not enough data

1 years with return on file

Admin fee / account holder

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

$250

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

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 codes2L2G2F3D2T

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.
2L
Code section 403(b)(1) arrangement
Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$507K

$13714 / participant

Other / not subdivided$507K100.0%

% of EOY assets

32.658%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$27,744

$48,314-42.6%

$67,561-58.9%

$80,925-65.7%

Participation rate

97.3%

66.4%+30.9pp

72.9%+24.4pp

67.7%+29.6pp

Annual return

10.33%

18.28%-7.9pp

3525.44%-3515.1pp

35.65%-25.3pp

Employer contribution / active EE

$1,139

$2,022-43.7%

$2,735-58.4%

$2,756-58.7%

Participant deferral / active EE

$4,433

$2,927+51.5%

$4,003+10.7%

$4,299+3.1%

Admin fee / account holder

$9,061

$3,690+145.6%

$4,006+126.2%

$6,940+30.6%

THE FRANKLIN ACADEMY 403(B) DC AND TDA PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE FRANKLIN ACADEMY 403(B) DC AND TDA 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