Retirement plan

THE CULTURAL INSTITUTIONS SAVINGS PLAN

Name: THE CULTURAL INSTITUTIONS RETIREMENT SYSTEM - THE CULTURAL INSTITUTIONS SAVINGS PLAN (2016) Form 5500
Creator: THE CULTURAL INSTITUTIONS RETIREMENT SYSTEM
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE CULTURAL INSTITUTIONS SAVINGS PLAN, THE CULTURAL INSTITUTIONS RETIREMENT SYSTEM

THE CULTURAL INSTITUTIONS RETIREMENT SYSTEMEIN 11-2001170Plan #002PY 2016

95 MADISON AVENUE SUITE 803 - NEW YORK, NY 100167801212-674-0101cirsplans.orgLinkedIn11-50 employeescivic & social organization

Other plans on this EIN

1 filing

#001Retirement-$1.11B assets

Prospect flagsLow returnsLow employer contribution

Top hat statement on fileNQDC

Filed May 26, 2004

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.

Open the filing PDF

How to read this page

Total assets (EOY)

$465.5M

No prior year

Total participants

14,654

No prior year

Average account balance

$34,375

No prior year

Annual return

0.01%

No prior year

Benchmarks

See 1,068 peers

Peer group

Industryany (size+type match)

Plan typeDefined contribution

Participants5,000-9,999

Cohort1,068 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$728.98M

Not enough data

1 years with asset history on file

Average account balance

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

$73K

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.

10,004

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.

44.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$29.85M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+9.25%

Not enough data

1 years with return on file

Admin fee / account holder

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

$392

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

1 years with F_SCH_H allocation on file

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Service providers

Top 10 of 17 by compensation

Provider	Service type	Compensation
VOYA RETIREMENT INSURANCE & ANNUITY1+ years Filed as: VOYA FINANCIAL Service code 15 · EIN 41-0991508	Recordkeeping	$321,896
WELLS FARGO BANK, N.A.1+ years Filed as: GALLIARD CAPITAL MANAGEMENT, INC. Service code 28 · EIN 41-1813702	Investment Management	$269,342
M. SCADUTO1+ years Service code 30 · EIN 11-2001170	Employee (plan); Direct payment from ...	$207,896
DAY PITNEY LLP1+ years Filed as: DAY PITNEY, LLP Service code 29 · EIN 06-0317480	Legal	$202,779
THE SEGAL COMPANY1+ years Filed as: SEGAL ROGERSCASEY Service code 23 333 WEST 34TH STREET · NEW YORK, NY 10001	Consulting fees; Insurance services	$173,701
R. SCHEER1+ years Service code 30 · EIN 11-2001170	Employee (plan); Direct payment from ...	$105,767
METLIFE LIFE INSURANCE COMPANY1+ years Filed as: METLIFE Service code 13 · EIN 13-5581829	Contract Administrator	$86,357
STATE STREET GLOBAL ADVISORS1+ years Service code 51 · EIN 04-1867445	Investment Mgmt Fees	$80,222
N. PICINICH1+ years Service code 30 · EIN 11-2001170	Employee (plan); Direct payment from ...	$65,581
L. CHARLEY1+ years Service code 30 · EIN 11-2001170	Direct payment from the plan; Employe...	$51,063

Plan features & details

Pension benefit codes2E2F2G2J2K2R2S2T

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.

Opportunity flags

2 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$1.4M

$155 / participant

Contract admin$155K11.3%
Other / not subdivided$1M88.7%

% of EOY assets

0.296%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: PKF O'CONNOR DAVIES, LLP
Auditor EIN: 271728945
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$34,375

$65,292-47.4%

$78,676-56.3%

$65,292-47.4%

Participation rate

87.5%

72.4%+15.0pp

73.6%+13.9pp

72.4%+15.0pp

Annual return

0.01%

11.84%-11.8pp

62.19%-62.2pp

11.84%-11.8pp

Employer contribution / active EE

$173

$2,302-92.5%

$2,850-93.9%

$2,302-92.5%

Participant deferral / active EE

$2,510

$3,579-29.9%

$3,517-28.6%

$3,579-29.9%

Admin fee / account holder

$102

$57+77.6%

$4,510-97.7%

$57+77.6%

Provider

Service type

Compensation

VOYA RETIREMENT INSURANCE & ANNUITY1+ years

Filed as: VOYA FINANCIAL

Service code 15 · EIN 41-0991508

Recordkeeping

$321,896

WELLS FARGO BANK, N.A.1+ years

Filed as: GALLIARD CAPITAL MANAGEMENT, INC.

Service code 28 · EIN 41-1813702

Investment Management

$269,342

M. SCADUTO1+ years

Service code 30 · EIN 11-2001170

Employee (plan); Direct payment from ...

$207,896

DAY PITNEY LLP1+ years

Filed as: DAY PITNEY, LLP

Service code 29 · EIN 06-0317480

Legal

$202,779

THE SEGAL COMPANY1+ years

Filed as: SEGAL ROGERSCASEY

Service code 23

333 WEST 34TH STREET · NEW YORK, NY 10001

Consulting fees; Insurance services

$173,701

R. SCHEER1+ years

Service code 30 · EIN 11-2001170

Employee (plan); Direct payment from ...

$105,767

METLIFE LIFE INSURANCE COMPANY1+ years

Filed as: METLIFE

Service code 13 · EIN 13-5581829

Contract Administrator

$86,357

STATE STREET GLOBAL ADVISORS1+ years

Service code 51 · EIN 04-1867445

Investment Mgmt Fees

$80,222

N. PICINICH1+ years

Service code 30 · EIN 11-2001170

Employee (plan); Direct payment from ...

$65,581

L. CHARLEY1+ years

Service code 30 · EIN 11-2001170

Direct payment from the plan; Employe...

$51,063

THE CULTURAL INSTITUTIONS SAVINGS PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE CULTURAL INSTITUTIONS SAVINGS PLAN

Top hat statement on fileNQDC

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