Retirement plan

THE U OF MASS FOUNDATION 401K PLAN

Name: THE UNIVERSITY OF MASSACHUSETTS - THE U OF MASS FOUNDATION 401K PLAN (2022) Form 5500
Creator: THE UNIVERSITY OF MASSACHUSETTS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE U OF MASS FOUNDATION 401K PLAN, THE UNIVERSITY OF MASSACHUSETTS

THE UNIVERSITY OF MASSACHUSETTSEIN 04-6013152Plan #002PY 2022

100 CARLSON AVE, 31ST FLOOR - NEWTON, MA 02459401-654-9573massachusetts.eduLinkedIn10001+ employeeshigher education

Prospect flagsHigh fees

Top hat statement on fileNQDC

Filed July 3, 2024

Plan administrator

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100 Carlson Avenue Building 12

Newton, MA 02459

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Plans declared (2)

The University of Massachusetts Foundation Inc. 457(b) Plan5 emp
The University of Massachusetts Foundation Inc. 457(f) Plan3 emp

Total covered: 8 employees

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Total assets (EOY)

$1.4M

-5.9% from 2021

Total participants

+39.3% from 2021

Average account balance

$38,815

-32.8% from 2021

Annual return

-17.70%

-30.97 pp from 2021

Benchmarks

See 6,929 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants<25

Cohort6,929 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.72M

Not enough data

1 years with asset history on file

Average account balance

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

$110K

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.

138.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.00M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$32K

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

+20.33%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6787

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

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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 codes2E2F2G2J2T3D

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.
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

1 tripped

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

$205K

$10236 / participant

Other / not subdivided$205K100.0%

% of EOY assets

15.070%

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

$38,815

$67,396-42.4%

$60,919-36.3%

$134,545-71.2%

Participation rate

80.0%

76.2%+3.8pp

73.1%+6.9pp

81.2%-1.2pp

Annual return

-17.70%

50.12%-67.8pp

16.96%-34.7pp

418.37%-436.1pp

Employer contribution / active EE

$11,698

$3,101+277.2%

$2,704+332.6%

$4,742+146.7%

Participant deferral / active EE

$7,017

$4,534+54.8%

$3,814+84.0%

$6,401+9.6%

Admin fee / account holder

$5,849

$4,590+27.4%

$3,228+81.2%

$11,431-48.8%

THE U OF MASS FOUNDATION 401K PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (2)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE U OF MASS FOUNDATION 401K PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (2)

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