Retirement plan

THE CULTURAL INSTITUTIONS SAVINGS PLAN

Name: THE CULTURAL INSTITUTIONS RETIREMENT SYSTEM - THE CULTURAL INSTITUTIONS SAVINGS PLAN (2018) 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 2018

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

Other plans on this EIN

1 filing

#001Retirement-$1.27B assets

Prospect flagsLow 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.

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Total assets (EOY)

$526.1M

+4.6% from 2017

Total participants

14,397

+10.2% from 2017

Average account balance

$42,183

+0.7% from 2017

Annual return

6.13%

-2.20 pp from 2017

Benchmarks

See 1,085 peers

Peer group

Industryany (size+type match)

Plan typeDefined contribution

Participants5,000-9,999

Cohort1,085 peers

Snapshot2018

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 19 by compensation

Provider	Service type	Compensation
M. SCADUTO3+ years Service code 30 · EIN 11-2001170	Direct payment from the plan; Employe...	$239,988
BENESYS, INC.1 year Filed as: INNOVATIVE SOFTWARE SOLUTIONS, INC. Service code 16 300 SOUTH LENOLA ROAD · MAPLE SHADE, NJ 08052	Consulting	$126,615
PKF O'CONNOR DAVIES, LLP3+ years Service code 10 · EIN 27-1728945	Accounting	$121,904
R. SCHEER3+ years Service code 30 · EIN 11-2001170	Employee (plan); Direct payment from ...	$114,832
M. KOLLE3+ years Service code 30 · EIN 11-2001170	Direct payment from the plan; Employe...	$97,490
J. MORR2 years Service code 30 · EIN 11-2001170	Direct payment from the plan; Employe...	$72,949
L. CHARLEY3+ years Service code 30 · EIN 11-2001170	Direct payment from the plan; Employe...	$50,760
W. CHING1 year Service code 30 · EIN 11-2001170	Direct payment from the plan; Employe...	$49,500
JONES DAY2 years Service code 29 · EIN 34-0319085	Legal	$46,632
THE SEGAL COMPANY3+ years Service code 23 · EIN 13-1835864	Other services; Insurance services; C...	$45,600

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

1 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$1.8M

$210 / participant

Other / not subdivided$2M100.0%

% of EOY assets

0.337%

all-in expense ratio

Categories reported

0 / 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

$42,183

$68,904-38.8%

$79,466-46.9%

$68,904-38.8%

Participation rate

77.2%

74.1%+3.1pp

73.3%+3.8pp

74.1%+3.1pp

Annual return

6.13%

1.07%+5.1pp

718.28%-712.1pp

1.07%+5.1pp

Employer contribution / active EE

$223

$2,540-91.2%

$2,800-92.0%

$2,540-91.2%

Participant deferral / active EE

$2,755

$4,015-31.4%

$3,704-25.6%

$4,015-31.4%

Admin fee / account holder

$142

$71+99.4%

$5,104-97.2%

$71+99.4%

Provider

Service type

Compensation

M. SCADUTO3+ years

Service code 30 · EIN 11-2001170

Direct payment from the plan; Employe...

$239,988

BENESYS, INC.1 year

Filed as: INNOVATIVE SOFTWARE SOLUTIONS, INC.

Service code 16

300 SOUTH LENOLA ROAD · MAPLE SHADE, NJ 08052

Consulting

$126,615

PKF O'CONNOR DAVIES, LLP3+ years

Service code 10 · EIN 27-1728945

Accounting

$121,904

R. SCHEER3+ years

Service code 30 · EIN 11-2001170

Employee (plan); Direct payment from ...

$114,832

M. KOLLE3+ years

Service code 30 · EIN 11-2001170

Direct payment from the plan; Employe...

$97,490

J. MORR2 years

Service code 30 · EIN 11-2001170

Direct payment from the plan; Employe...

$72,949

L. CHARLEY3+ years

Service code 30 · EIN 11-2001170

Direct payment from the plan; Employe...

$50,760

W. CHING1 year

Service code 30 · EIN 11-2001170

Direct payment from the plan; Employe...

$49,500

JONES DAY2 years

Service code 29 · EIN 34-0319085

Legal

$46,632

THE SEGAL COMPANY3+ years

Service code 23 · EIN 13-1835864

Other services; Insurance services; C...

$45,600

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