Retirement plan

THE CULTURAL INSTITUTIONS SAVINGS PLAN

Name: THE CULTURAL INSTITUTIONS RETIREMENT SYSTEM - THE CULTURAL INSTITUTIONS SAVINGS PLAN (2017) 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 2017

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

Other plans on this EIN

1 filing

#001Retirement-$1.21B 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

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Total assets (EOY)

$503.2M

-7.5% from 2017

Total participants

13,063

+12.2% from 2017

Average account balance

$41,878

-17.9% from 2017

Annual return

8.33%

-8.32 pp from 2017

Benchmarks

See 1,075 peers

Peer group

Industryany (size+type match)

Plan typeDefined contribution

Participants5,000-9,999

Cohort1,075 peers

Snapshot2017

Participant deferral / active EE

$2,549

median $3,253

Employer contribution / active EE

$207

median $1,782

Participation rate

88.1%

median 89.1%

Avg account balance

$41,878

median $54,463

Admin fee / account holder

$144

median $50

Annual return

8.33%

median 17.75%

Overall peer rank

25of 100

25th percentileavg across 6 metrics

Analytics

2016 - 2025

Total assets (EOY)

Plan-year ending balance

$728.98M

Average account balance

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

$73K

Participants with account balance

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

10,004

Eligible Participants and Participation

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

44.2%

Contributions (total)

Employer and participant dollars contributed each year

$29.85M

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+9.25%

Admin fee / account holder

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

$392

Asset composition

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

Mutual / pooled
Stocks
Bonds
Cash
Real estate
Loans

Service providers

Top 10 of 16 by compensation

Provider	Service type	Compensation
WELLS FARGO BANK, N.A.2+ years Filed as: GALLIARD CAPITAL MANAGEMENT, INC. Service code 13	Contract Administrator	$321,615
M. SCADUTO2+ years Service code 30 · EIN 11-2001170	Employee (plan); Direct payment from ...	$229,063
VOYA RETIREMENT INSURANCE & ANNUITY2+ years Filed as: VOYA FINANCIAL Service code 15 · EIN 41-0991508	Recordkeeping	$132,362
PKF O'CONNOR DAVIES, LLP2+ years Service code 10 · EIN 27-1728945	Accounting	$125,868
R. SCHEER2+ years Service code 30 · EIN 11-2001170	Direct payment from the plan; Employe...	$111,951
STATE STREET GLOBAL ADVISORS2+ years Service code 18 · EIN 04-1867445	Custodial (securities); Investment ma...	$89,639
M. KOLLE2+ years Service code 30 · EIN 11-2001170	Direct payment from the plan; Employe...	$86,417
L. CHARLEY2+ years Service code 30 · EIN 11-2001170	Employee (plan); Direct payment from ...	$49,635
T. LOZADA2+ years Service code 30 · EIN 21-2001170	Direct payment from the plan; Employe...	$38,700
M. STIEGLITZ2+ years Service code 30 · EIN 11-2001170	Employee (plan); Direct payment from ...	$35,960

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

$1.7M

$195 / participant

Contract admin$132K7.7%
Other / not subdivided$2M92.3%

% of EOY assets

0.343%

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

$41,878

$177,276-76.4%

$86,593-51.6%

$177,276-76.4%

Participation rate

88.1%

74.8%+13.3pp

73.5%+14.6pp

74.8%+13.3pp

Annual return

8.33%

21.25%-12.9pp

965.08%-956.8pp

21.25%-12.9pp

Employer contribution / active EE

$207

$2,479-91.7%

$2,840-92.7%

$2,479-91.7%

Participant deferral / active EE

$2,549

$3,881-34.3%

$3,609-29.4%

$3,881-34.3%

Admin fee / account holder

$144

$154-6.8%

$4,904-97.1%

$154-6.8%

Provider

Service type

Compensation

WELLS FARGO BANK, N.A.2+ years

Filed as: GALLIARD CAPITAL MANAGEMENT, INC.

Service code 13

Contract Administrator

$321,615

M. SCADUTO2+ years

Service code 30 · EIN 11-2001170

Employee (plan); Direct payment from ...

$229,063

VOYA RETIREMENT INSURANCE & ANNUITY2+ years

Filed as: VOYA FINANCIAL

Service code 15 · EIN 41-0991508

Recordkeeping

$132,362

PKF O'CONNOR DAVIES, LLP2+ years

Service code 10 · EIN 27-1728945

Accounting

$125,868

R. SCHEER2+ years

Service code 30 · EIN 11-2001170

Direct payment from the plan; Employe...

$111,951

STATE STREET GLOBAL ADVISORS2+ years

Service code 18 · EIN 04-1867445

Custodial (securities); Investment ma...

$89,639

M. KOLLE2+ years

Service code 30 · EIN 11-2001170

Direct payment from the plan; Employe...

$86,417

L. CHARLEY2+ years

Service code 30 · EIN 11-2001170

Employee (plan); Direct payment from ...

$49,635

T. LOZADA2+ years

Service code 30 · EIN 21-2001170

Direct payment from the plan; Employe...

$38,700

M. STIEGLITZ2+ years

Service code 30 · EIN 11-2001170

Employee (plan); Direct payment from ...

$35,960

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