Plan Snapshot
- Plan Sponsor: Family Life Academy Charter Schools
- Sponsor EIN: 134170389
- Sponsor Address: 296 E 140 ST, BRONX, NY, 10454
- Plan Type: 401(k)
- Plan Number: 001
- Total Participants: 290
- Total Assets: $7.0M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 290 | $7.0M | $378,065 | $739,155 |
| 2023 | 281 | $6.4M | $338,798 | $711,326 |
| 2022 | 260 | $5.0M | $305,698 | $606,678 |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| TRANSAMERICA FINANCIAL LIFE INS CO | Recordkeeper | $64,917 | — | $64,917 |
| MAGII PENSION SERVICES, LLC | Recordkeeper | $5,201 | — | $5,201 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- TRANSAMERICA FINANCIAL LIFE INS CO — Recordkeeper
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $70,118
- Estimated Expense Ratio: 0.995% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $72,812 | — | $72,812 | — | — |
| 2023 | $69,774 | — | $69,774 | — | — |
| 2022 | $55,833 | — | $53,748 | — | — |