Retirement plan

HARVARD UNIVERSITY RETIREMENT PLAN

Name: PRESIDENT & FELLOWS OF HARVARD COLLEGE HARVARD HUMAN RESOURCES, BENEFI - HARVARD UNIVERSITY RETIREMENT PLAN (2020) Form 5500
Creator: PRESIDENT & FELLOWS OF HARVARD COLLEGE HARVARD HUMAN RESOURCES, BENEFI
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HARVARD UNIVERSITY RETIREMENT PLAN, PRESIDENT & FELLOWS OF HARVARD COLLEGE HARVARD HUMAN RESOURCES, BENEFI

PRESIDENT & FELLOWS OF HARVARD COLLEGE HARVARD HUMAN RESOURCES, BENEFIEIN 04-2103580Plan #003PY 2020

114 MT AUBURN ST, ROOM 433 - CAMBRIDGE, MA 02138617-496-1542

Other plans on this EIN

3 filings

#006Retirement-$3.09B assets #002Retirement-$1.97B assets #007Retirement-$1.44B assets

Prospect flagsHigh retiree %High fees

Top hat statement on fileNQDC

Filed December 19, 2013 (most recent of 4 filings on file)

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$1976.9M

-2.6% from 2016

Total participants

9,553

+1.6% from 2016

Average account balance

$206,942

No prior year

Annual return

9.57%

-7.71 pp from 2016

Benchmarks

See 9 peers

Peer group

Industryany (size+type match)

Plan typeDB + DC

Participants1,000-4,999

Cohort9 peers

Snapshot2020

Participant deferral / active EE

median $2,963

Employer contribution / active EE

$23,465

median $13,167

Participation rate

100.0%

median 96.6%

Avg account balance

$206,942

median $99,323

Admin fee / account holder

$465

median $172

Annual return

9.57%

median 10.04%

Overall peer rank

55of 100

55th percentileavg across 6 metrics

Analytics

2015 - 2024

Total assets (EOY)

Plan-year ending balance

$1.56B

Average account balance

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

$179K

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

6,039

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

0.0%

Contributions (total)

Employer and participant dollars contributed each year

$24.80M

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+5.52%

Admin fee / account holder

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

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Mutual / pooled
Stocks
Bonds
Cash
Real estate
Loans

Service providers

Top 8 by compensation

Provider	Service type	Compensation
TIAA6+ years Service code 52 · EIN 13-1624203	Indirect Investment Fees	$757,825
WILLIS TOWERS WATSON US LLC4 years Filed as: WILLIS TOWERS WATSON Service code 11 800 BOYLSTON STREET · BOSTON, MA 02110	Actuarial	$610,845
WELLINGTON TRUST COMPANY5 years Filed as: WELLINGTON MANAGEMENT COMPANY, LLP Service code 51 280 CONGRESS ST · BOSTON, MA 02210	Investment Mgmt Fees	$511,872
MORGAN STANLEY SMITH BARNEY5 years Filed as: MORGAN STANLEY Service code 51 522 FIFTH AVE · NEW YORK, NY 10036	Investment Mgmt Fees	$178,331
PRICEWATERHOUSECOOPERS LLP6+ years Filed as: PRICEWATERHOUSECOOPERS, LLC. Service code 10 · EIN 13-4008324	Accounting	$67,730
ROPES & GRAY LLP6+ years Filed as: ROPES & GRAY Service code 29 · EIN 04-2233412	Legal	$50,408
FIDELITY INVESTMENTS INSTITUTIONAL6+ years Service code 60 · EIN 04-2647786	Sub-TA Fees	$33,587
THE VANGUARD GROUP, INC.6+ years Filed as: VANGUARD GROUP, INC. Service code 52 · EIN 23-1945930	Indirect Investment Fees	$33,407

Enrolled actuary

1 attachment

TIMOTHY W. DEVOE

WILLIS TOWERS WATSON US LLC

Enrollment #2007222

75 ARLINGTON ST, FLOOR 10

BOSTON, MA 02116

(617) 638-3700

Plan features & details

Pension benefit codes1C1F2C2A1A2F2G3H2R2T

Plan features

1A
Benefits are primarily pay related
Benefits under the plan are primarily determined with reference to a participant's pay (e.g. final-average-pay formula).
1C
Cash balance or similar plan
A cash balance formula in a defined benefit plan that expresses the accrued benefit in terms more common to a defined contribution plan such as a hypothetical account balance or single sum amount (includes personal account plan pension equity plan life cycle plan and cash account plan).
1F
Section 414(k) arrangement
Benefits are based partly on the balance of the separate account of the participant. Must also include appropriate defined contribution pension feature codes.
2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
2C
Money purchase plan
Money purchase pension plan other than a target benefit 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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

Expense breakdown

Schedule H Part II

Admin total

$4.4M

$1495 / participant

Other / not subdivided$4M100.0%

% of EOY assets

0.225%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: PRICEWATERHOUSECOOPERS LLC
Auditor EIN: 134008324
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$206,942

$112,742+83.6%

$62,624+230.4%

$112,742+83.6%

Participation rate

100.0%

82.4%+17.6pp

88.9%+11.1pp

82.4%+17.6pp

Annual return

9.57%

10.24%-0.7pp

11.31%-1.7pp

10.24%-0.7pp

Employer contribution / active EE

$23,465

$12,502+87.7%

$3,987+488.5%

$12,502+87.7%

Participant deferral / active EE

$2,963-100.0%

$4,711-100.0%

$2,963-100.0%

Admin fee / account holder

$465

$236+97.1%

$351+32.7%

$236+97.1%

Provider

Service type

Compensation

TIAA6+ years

Service code 52 · EIN 13-1624203

Indirect Investment Fees

$757,825

WILLIS TOWERS WATSON US LLC4 years

Filed as: WILLIS TOWERS WATSON

Service code 11

800 BOYLSTON STREET · BOSTON, MA 02110

Actuarial

$610,845

WELLINGTON TRUST COMPANY5 years

Filed as: WELLINGTON MANAGEMENT COMPANY, LLP

Service code 51

280 CONGRESS ST · BOSTON, MA 02210

Investment Mgmt Fees

$511,872

MORGAN STANLEY SMITH BARNEY5 years

Filed as: MORGAN STANLEY

Service code 51

522 FIFTH AVE · NEW YORK, NY 10036

Investment Mgmt Fees

$178,331

PRICEWATERHOUSECOOPERS LLP6+ years

Filed as: PRICEWATERHOUSECOOPERS, LLC.

Service code 10 · EIN 13-4008324

Accounting

$67,730

ROPES & GRAY LLP6+ years

Filed as: ROPES & GRAY

Service code 29 · EIN 04-2233412

Legal

$50,408

FIDELITY INVESTMENTS INSTITUTIONAL6+ years

Service code 60 · EIN 04-2647786

Sub-TA Fees

$33,587

THE VANGUARD GROUP, INC.6+ years

Filed as: VANGUARD GROUP, INC.

Service code 52 · EIN 23-1945930

Indirect Investment Fees

$33,407

HARVARD UNIVERSITY RETIREMENT PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Enrolled actuary

TIMOTHY W. DEVOE

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HARVARD UNIVERSITY RETIREMENT PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Enrolled actuary

TIMOTHY W. DEVOE

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