Retirement plan

MONEY PURCHASE PENSION PLAN OF WAKE FOREST UNIVERSITY HEALTH SCIENCES

Name: WAKE FOREST UNIVERSITY HEALTH SCIENCES - MONEY PURCHASE PENSION PLAN OF WAKE FOREST UNIVERSITY HEALTH SCIENCES (2023) Form 5500
Creator: WAKE FOREST UNIVERSITY HEALTH SCIENCES
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MONEY PURCHASE PENSION PLAN OF WAKE FOREST UNIVERSITY HEALTH SCIENCES, WAKE FOREST UNIVERSITY HEALTH SCIENCES

WAKE FOREST UNIVERSITY HEALTH SCIENCESEIN 22-3849199Plan #008PY 2023

MEDICAL CENTER BOULEVARD - WINSTON-SALEM, NC 271571017336-716-2387LinkedIn1001-5000 employeesmedical devices

Prospect flagsLow returnsWind-down / frozen

Top hat statement on fileNQDC

Filed April 25, 2023 (most recent of 3 filings on file)

Plan administrator

Plan administrator name— Sign in and upgrade to view

P.O. Box 32861

Charlotte, NC 28232

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Plans declared (1)

Atrium Health, Inc. Retirement Restoration Plan1 emp

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Total assets (EOY)

$478.7M

-5.5% from 2017

Total participants

4,923

+2.5% from 2017

Average account balance

$97,229

-7.8% from 2017

Annual return

10.02%

-9.91 pp from 2017

Benchmarks

See 300 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort300 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$521.94M

Not enough data

1 years with asset history on file

Average account balance

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

$116K

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.

4,500

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

Not enough data

0 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+10.52%

Not enough data

1 years with return on file

Admin fee / account holder

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

$17

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 5 by compensation

Provider	Service type	Compensation
TIAA5 years Filed as: TIAA-CREF Service code 14 · EIN 13-1624203	Plan Administrator	$60,157
TRANSAMERICA RETIREMENT SOLUTIONS8+ years Service code 12 · EIN 13-3689044	Claims processing; Recordkeeping fees...	$52,937
MORGAN STANLEY SMITH BARNEY5 years Filed as: MORGAN STANLEY Service code 27 · EIN 26-4310632	Advisory (Plan)	$50,000
MORGAN STANLEY SMITH BARNEY1 year Filed as: MORGAN STANLEY GLOBAL BANK Service code 27 · EIN 26-4310632	Advisory (Plan)	$50,000
NATIONAL FINANCIAL SERVICES8+ years Service code 33 · EIN 04-3523567	Securities brokerage commissions and ...	$0

Plan features & details

Pension benefit codes2A2C2F2G2T3H

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).
2C
Money purchase plan
Money purchase pension plan other than a target benefit 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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
InformationalWind-down / frozen
Plan appears closed to new enrollment or frozen - balance-holders far exceed active participants, or the plan reports active distributions with no inflows. Exclude from peer benchmarks.

Expense breakdown

Schedule H Part II

Admin total

$213K

$100 / participant

Investment mgmt$160K75.2%
Other / not subdivided$53K24.8%

% of EOY assets

0.045%

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: BUTLER & BURKE, LLP
Auditor EIN: 561138530
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$97,229

$105,179-7.6%

$64,110+51.7%

$80,187+21.3%

Participation rate

100.0%

73.5%+26.5pp

72.3%+27.7pp

72.9%+27.1pp

Annual return

10.02%

20.34%-10.3pp

33.75%-23.7pp

40.40%-30.4pp

Employer contribution / active EE

$3,311-100.0%

$2,751-100.0%

$2,980-100.0%

Participant deferral / active EE

$4,020-100.0%

$3,883-100.0%

$5,016-100.0%

Admin fee / account holder

$43

$113-61.8%

$3,071-98.6%

$145-70.1%

Provider

Service type

Compensation

TIAA5 years

Filed as: TIAA-CREF

Service code 14 · EIN 13-1624203

Plan Administrator

$60,157

TRANSAMERICA RETIREMENT SOLUTIONS8+ years

Service code 12 · EIN 13-3689044

Claims processing; Recordkeeping fees...

$52,937

MORGAN STANLEY SMITH BARNEY5 years

Filed as: MORGAN STANLEY

Service code 27 · EIN 26-4310632

Advisory (Plan)

$50,000

MORGAN STANLEY SMITH BARNEY1 year

Filed as: MORGAN STANLEY GLOBAL BANK

Service code 27 · EIN 26-4310632

Advisory (Plan)

$50,000

NATIONAL FINANCIAL SERVICES8+ years

Service code 33 · EIN 04-3523567

Securities brokerage commissions and ...

MONEY PURCHASE PENSION PLAN OF WAKE FOREST UNIVERSITY HEALTH SCIENCES

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MONEY PURCHASE PENSION PLAN OF WAKE FOREST UNIVERSITY HEALTH SCIENCES

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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