# Family Life Academy Charter Schools 401(k) Plan
Source: https://planprovider.pro/companies/family-life-academy-charter-schools-134170389-001

> Family Life Academy Charter Schools's 401(k) plan: 290 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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](https://planprovider.pro/provider/transamerica) — 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|—|—|

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