Retirement plan

ILLINOIS INDEPENDENT COLLEGES AND UNIVERSITIES MULTIPLE EMPLOYER PLAN

Name: GOVERNING COMMITTEE OF THE ILLINOIS INDEPENDENT COLLEGES AND UNIVERSI - ILLINOIS INDEPENDENT COLLEGES AND UNIVERSITIES MULTIPLE EMPLOYER PLAN (2024) Form 5500
Creator: GOVERNING COMMITTEE OF THE ILLINOIS INDEPENDENT COLLEGES AND UNIVERSI
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ILLINOIS INDEPENDENT COLLEGES AND UNIVERSITIES MULTIPLE EMPLOYER PLAN, GOVERNING COMMITTEE OF THE ILLINOIS INDEPENDENT COLLEGES AND UNIVERSI

GOVERNING COMMITTEE OF THE ILLINOIS INDEPENDENT COLLEGES AND UNIVERSIEIN 20-0174619Plan #333PY 2024

1123 S. SECOND STREET - SPRINGFIELD, IL 62704217-522-8655

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$503.5M

+9.4% from 2023

Total participants

4,015

+2.1% from 2023

Average account balance

$126,166

+7.1% from 2023

Annual return

16.04%

-118.83 pp from 2023

Benchmarks

See 308 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort308 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$503.53M

Not enough data

1 years with asset history on file

Average account balance

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

$126K

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.

3,991

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.

98.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$11.18M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+16.04%

Not enough data

1 years with return on file

Admin fee / account holder

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

$226

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

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

Service providers

Top 7 by compensation

Provider	Service type	Compensation
MILLENNIUM INVESTMENT & RETIREMENT2 years Filed as: MILLENNIUM ADVISORY SERVICES, INC. Service code 26 · EIN 54-2020086 5340 TWIN HICKORY RD. · GLEN ALLEN, VA 230595682	Advisory (Participants)	$399,641
PLANPILOT, LLC2 years Service code 13 · EIN 45-4168388 223 W JACKSON BLVD, STE. 800 · CHICAGO, IL 606066913	Contract Administrator	$195,053
TIAA3+ years Filed as: TIAA-TEACHERS INSURANCE AND ANNUITY Service code 13 · EIN 13-1624203 730 THIRD AVENUE · NEW YORK, NY 100173206	Contract Administrator	$152,123
PENTEGRA SERVICES, INC.2 years Service code 14 · EIN 13-3745616 701 WESTCHESTER AVE., STE. 320E · WHITE PLAINS, NY 106043027	Plan Administrator	$83,429
SIKICH LLP1 year Service code 10 · EIN 36-3168081 1415 W DIEHL RD STE 400 · NAPERVILLE, IL 605631197	Accounting	$46,000
PRM CONSULTING INC2 years Filed as: PRM CONSULTING Service code 13 · EIN 52-2156813 1841 13TH STREET NW · WASHINGTON, DC 20009	Contract Administrator	$14,062
RIGGS COUNSELMAN MICHAELS & DOWNES1 year Filed as: RIGGS CNSLMN MICHAELS & DOWNES INC Service code 13 · EIN 52-0555835 555 FAIRMOUNT AVE · BALTIMORE, MD 21286	Contract Administrator	$11,358

Plan features & details

Pension benefit codes2F2G2L

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.

Opportunity flags

1 tripped

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

$903K

$576 / participant

Recordkeeping$418K46.3%
Contract admin$485K53.7%

% of EOY assets

0.179%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: SIKICH CPA LLC
Auditor EIN: 541172176
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$126,166

$113,568+11.1%

$67,561+86.7%

$199,921-36.9%

Participation rate

98.5%

73.3%+25.1pp

72.9%+25.6pp

72.0%+26.5pp

Annual return

16.04%

15.88%+0.2pp

3525.44%-3509.4pp

34.28%-18.2pp

Employer contribution / active EE

$3,214

$3,409-5.7%

$2,735+17.5%

$3,035+5.9%

Participant deferral / active EE

$3,922

$4,163-5.8%

$4,003-2.0%

$5,089-22.9%

Admin fee / account holder

$226

$102+120.9%

$4,006-94.4%

$269-16.0%

Provider

Service type

Compensation

MILLENNIUM INVESTMENT & RETIREMENT2 years

Filed as: MILLENNIUM ADVISORY SERVICES, INC.

Service code 26 · EIN 54-2020086

5340 TWIN HICKORY RD. · GLEN ALLEN, VA 230595682

Advisory (Participants)

$399,641

PLANPILOT, LLC2 years

Service code 13 · EIN 45-4168388

223 W JACKSON BLVD, STE. 800 · CHICAGO, IL 606066913

Contract Administrator

$195,053

TIAA3+ years

Filed as: TIAA-TEACHERS INSURANCE AND ANNUITY

Service code 13 · EIN 13-1624203

730 THIRD AVENUE · NEW YORK, NY 100173206

Contract Administrator

$152,123

PENTEGRA SERVICES, INC.2 years

Service code 14 · EIN 13-3745616

701 WESTCHESTER AVE., STE. 320E · WHITE PLAINS, NY 106043027

Plan Administrator

$83,429

SIKICH LLP1 year

Service code 10 · EIN 36-3168081

1415 W DIEHL RD STE 400 · NAPERVILLE, IL 605631197

Accounting

$46,000

PRM CONSULTING INC2 years

Filed as: PRM CONSULTING

Service code 13 · EIN 52-2156813

1841 13TH STREET NW · WASHINGTON, DC 20009

Contract Administrator

$14,062

RIGGS COUNSELMAN MICHAELS & DOWNES1 year

Filed as: RIGGS CNSLMN MICHAELS & DOWNES INC

Service code 13 · EIN 52-0555835

555 FAIRMOUNT AVE · BALTIMORE, MD 21286

Contract Administrator

$11,358

ILLINOIS INDEPENDENT COLLEGES AND UNIVERSITIES MULTIPLE EMPLOYER PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ILLINOIS INDEPENDENT COLLEGES AND UNIVERSITIES MULTIPLE EMPLOYER PLAN

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