Retirement plan

MORRISTOWN-BEARD SCHOOL DEFINED CONTRIBUTION RETIREMENT PLAN

Name: MORRISTOWN BEARD SCHOOL - MORRISTOWN-BEARD SCHOOL DEFINED CONTRIBUTION RETIREMENT PLAN (2023) 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 2023

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)

$47.7M

+14.4% from 2022

Total participants

440

+0.5% from 2022

Average account balance

$110,365

+12.8% from 2022

Annual return

14.27%

+26.21 pp from 2022

Benchmarks

See 1,530 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants100-249

Cohort1,530 peers

Snapshot2023

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
TIAA5 years Service code 64 · EIN 13-1624203	Recordkeeping Fees	$17,883
PKF O'CONNOR DAVIES, LLP1 year Filed as: PKF O'CONNOR DAVIES Service code 10 · EIN 27-1728945	Accounting	$13,250
NEW PINNACLE CONSULTING GROUP, LLC1 year Service code 17 · EIN 26-1233837	Pension Consulting	$3,454

Plan features & details

Pension benefit codes2A2G2L2F2M3D

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.
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

0 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$34K

$151 / participant

Contract admin$34K100.0%

% of EOY assets

0.071%

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

$110,365

$65,582+68.3%

$64,099+72.2%

$71,495+54.4%

Participation rate

96.5%

73.2%+23.3pp

72.3%+24.1pp

67.9%+28.5pp

Annual return

14.27%

18.96%-4.7pp

33.70%-19.4pp

28.85%-14.6pp

Employer contribution / active EE

$4,749

$2,671+77.8%

$2,748+72.8%

$2,589+83.4%

Participant deferral / active EE

$4,487

$3,628+23.7%

$3,881+15.6%

$4,291+4.6%

Admin fee / account holder

$79

$616-87.2%

$3,070-97.4%

$1,588-95.0%

Provider

Service type

Compensation

TIAA5 years

Service code 64 · EIN 13-1624203

Recordkeeping Fees

$17,883

PKF O'CONNOR DAVIES, LLP1 year

Filed as: PKF O'CONNOR DAVIES

Service code 10 · EIN 27-1728945

Accounting

$13,250

NEW PINNACLE CONSULTING GROUP, LLC1 year

Service code 17 · EIN 26-1233837

Pension Consulting

$3,454

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