Retirement plan

MORRISTOWN-BEARD SCHOOL DEFINED CONTRIBUTION RETIREMENT PLAN

Name: MORRISTOWN-BEARD SCHOOL - MORRISTOWN-BEARD SCHOOL DEFINED CONTRIBUTION RETIREMENT PLAN (2022) Form 5500
Creator: MORRISTOWN-BEARD SCHOOL
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MORRISTOWN-BEARD SCHOOL DEFINED CONTRIBUTION RETIREMENT PLAN, MORRISTOWN-BEARD SCHOOL

MORRISTOWN-BEARD SCHOOLEIN 22-1487252Plan #001PY 2022

70 WHIPPANY ROAD - MORRISTOWN, NJ 07960973-539-3032mbs.netLinkedIn51-200 employeesprimary/secondary education

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$41.7M

-16.4% from 2021

Total participants

438

+4.3% from 2021

Average account balance

$97,874

-19.4% from 2021

Annual return

-11.94%

-24.46 pp from 2021

Benchmarks

See 1,479 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants100-249

Cohort1,479 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$51.70M

Not enough data

1 years with asset history on file

Average account balance

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

$118K

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.

438

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.

97.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.25M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+12.53%

Not enough data

1 years with return on file

Admin fee / account holder

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

$117

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 3 by compensation

Provider	Service type	Compensation
TIAA4 years Service code 64 · EIN 13-1624203 730 THIRD AVE · NEW YORK, NY 100173206	Recordkeeping Fees	$15,454
SUPLEE, CLOONEY & COMPANY3 years Service code 10 · EIN 22-1427684 308 E BROAD STREET · WESTFIELD, NJ 070902122	Accounting	$11,600
WELL AND GOOD LLC6 years Service code 27 · EIN 27-0984119 1710 ADAMS STREET · MADISON, WI 537112142	Advisory (Plan)	$10,800

Plan features & details

Pension benefit codes2A2G2L2F2M

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.

Opportunity flags

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$41K

$225 / participant

Contract admin$41K100.0%

% of EOY assets

0.098%

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

$97,874

$60,989+60.5%

$60,906+60.7%

$66,938+46.2%

Participation rate

93.4%

74.5%+18.9pp

73.1%+20.3pp

69.8%+23.6pp

Annual return

-11.94%

-9.60%-2.3pp

16.94%-28.9pp

1.58%-13.5pp

Employer contribution / active EE

$5,711

$2,661+114.6%

$2,703+111.3%

$2,545+124.4%

Participant deferral / active EE

$5,258

$3,615+45.5%

$3,814+37.9%

$4,238+24.1%

Admin fee / account holder

$96

$338-71.8%

$3,227-97.0%

$594-83.9%

Provider

Service type

Compensation

TIAA4 years

Service code 64 · EIN 13-1624203

730 THIRD AVE · NEW YORK, NY 100173206

Recordkeeping Fees

$15,454

SUPLEE, CLOONEY & COMPANY3 years

Service code 10 · EIN 22-1427684

308 E BROAD STREET · WESTFIELD, NJ 070902122

Accounting

$11,600

WELL AND GOOD LLC6 years

Service code 27 · EIN 27-0984119

1710 ADAMS STREET · MADISON, WI 537112142

Advisory (Plan)

$10,800

MORRISTOWN-BEARD SCHOOL DEFINED CONTRIBUTION RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MORRISTOWN-BEARD SCHOOL DEFINED CONTRIBUTION RETIREMENT 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