Retirement plan

THE METROPOLITAN OPERA RETIREMENT SAVINGS PLAN

Name: METROPOLITAN OPERA ASSOCIATION, INC. - THE METROPOLITAN OPERA RETIREMENT SAVINGS PLAN (2023) Form 5500
Creator: METROPOLITAN OPERA ASSOCIATION, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE METROPOLITAN OPERA RETIREMENT SAVINGS PLAN, METROPOLITAN OPERA ASSOCIATION, INC.

METROPOLITAN OPERA ASSOCIATION, INC.EIN 13-1624087Plan #010PY 2023

30 LINCOLN CENTER - NEW YORK, NY 10023212-799-3100metoperafamily.orgLinkedIn1-10 employeesmusic

Other plans on this EIN

2 filings

#007Retirement-$248.6M assets #005Retirement-$1.3M assets

Prospect flagsLow returnsLow employer contributionFailed to transmit contributions

Top hat statement on fileNQDC

Filed September 24, 2015

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)

$217.4M

+10.8% from 2022

Total participants

1,281

+5.3% from 2022

Average account balance

$175,342

+8.8% from 2022

Annual return

13.72%

+26.01 pp from 2022

Benchmarks

See 451 peers

Peer group

Industry71 - Arts, Entertainment, and Recreation

Plan typeDefined contribution

Participants250-999

Cohort451 peers

Snapshot2023

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$232.10M

Not enough data

1 years with asset history on file

Average account balance

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

$190K

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.

1,224

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.

99.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$9.26M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+11.98%

Not enough data

1 years with return on file

Admin fee / account holder

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

$195

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 6 by compensation

Provider	Service type	Compensation
KPMG LLP2 years Filed as: KPMG Service code 10 · EIN 13-5565207	Accounting	$63,500
CAPFINANCIAL PARTNERS LLC3 years Filed as: CAPFINANCIAL PARTNERS, LLC Service code 16 · EIN 26-0058143	Consulting	$53,732
PROSKAUER ROSE LLP4 years Service code 29 · EIN 13-1840454	Legal	$19,953
TRANSAMERICA RETIREMENT SOLUTIONS9+ years Service code 12 · EIN 13-3689044	Recordkeeping and information managem...	$18,825
CHARLES SCHWAB & CO., INC.9+ years Service code 33 · EIN 94-1737782	Securities brokerage commissions and ...	$0
NATIONAL FINANCIAL SERVICES9+ years Service code 33 · EIN 04-3523567	Securities brokerage; Securities brok...	$0

Plan features & details

Pension benefit codes2F2G2L2M2R2T3D

Plan features

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.
2L
Code section 403(b)(1) arrangement
Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
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.
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

3 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.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$188K

$219 / participant

Recordkeeping$19K10.0%
Investment mgmt$54K28.7%
Legal$20K10.6%
Other / not subdivided$95K50.7%

% of EOY assets

0.086%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.

Auditor firm: KPMG LLP
Auditor EIN: 135565207
Audit fees: $63,500
Opinion code: Disclaimer

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$175,342

$53,345+228.7%

$121,098+44.8%

$74,419+135.6%

Participation rate

95.2%

60.0%+35.2pp

69.5%+25.7pp

70.7%+24.5pp

Annual return

13.72%

35.15%-21.4pp

985.75%-972.0pp

34.38%-20.7pp

Employer contribution / active EE

$67

$1,898-96.5%

$4,164-98.4%

$2,637-97.5%

Participant deferral / active EE

$10,766

$3,221+234.3%

$4,080+163.9%

$4,528+137.8%

Admin fee / account holder

$151

$382-60.4%

$5,644-97.3%

$348-56.5%

Provider

Service type

Compensation

KPMG LLP2 years

Filed as: KPMG

Service code 10 · EIN 13-5565207

Accounting

$63,500

CAPFINANCIAL PARTNERS LLC3 years

Filed as: CAPFINANCIAL PARTNERS, LLC

Service code 16 · EIN 26-0058143

Consulting

$53,732

PROSKAUER ROSE LLP4 years

Service code 29 · EIN 13-1840454

Legal

$19,953

TRANSAMERICA RETIREMENT SOLUTIONS9+ years

Service code 12 · EIN 13-3689044

Recordkeeping and information managem...

$18,825

CHARLES SCHWAB & CO., INC.9+ years

Service code 33 · EIN 94-1737782

Securities brokerage commissions and ...

NATIONAL FINANCIAL SERVICES9+ years

Service code 33 · EIN 04-3523567

Securities brokerage; Securities brok...

THE METROPOLITAN OPERA RETIREMENT SAVINGS PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE METROPOLITAN OPERA RETIREMENT 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