Retirement plan

THE BROAD INSTITUTE, INC. 401(K) RETIREMENT PLAN

Name: THE BROAD INSTITUTE - THE BROAD INSTITUTE, INC. 401(K) RETIREMENT PLAN (2020) Form 5500
Creator: THE BROAD INSTITUTE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE BROAD INSTITUTE, INC. 401(K) RETIREMENT PLAN, THE BROAD INSTITUTE

THE BROAD INSTITUTEEIN 26-3428781Plan #001PY 2020

415 MAIN STREET - CAMBRIDGE, MA 02142617-714-7000

Prospect flagsFailed to transmit contributionsCorrective distributions

Top hat statement on fileNQDC

Filed April 5, 2016 (most recent of 2 filings on file)

Plan administrator

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75 Ames Street, 11th floor

Cambridge State: MA Zip Code: 02142

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Plans declared (1)

Broad Institute72 emp

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Total assets (EOY)

$282.4M

-16.2% from 2016

Total participants

2,996

-4.3% from 2016

Average account balance

$95,325

-12.5% from 2016

Annual return

18.42%

-10.33 pp from 2016

Benchmarks

See 755 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort755 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$475.93M

Not enough data

1 years with asset history on file

Average account balance

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

$115K

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.

4,123

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.

98.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$40.47M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$20K

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

+16.01%

Not enough data

1 years with return on file

Admin fee / account holder

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

$71

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 2 by compensation

Provider	Service type	Compensation
THE PFE GROUP3 years Service code 16 · EIN 71-1036677	Consulting	$79,428
FIDELITY INVESTMENTS INSTITUTIONAL6+ years Service code 37 · EIN 04-2647786	Loan Processing	-$95,260

Plan features & details

Pension benefit codes2F2G2J2K2S2T3D2E

Plan features

2E
Profit-sharing
Profit-sharing 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.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

2 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Plan-level admin expenses are zero - fees are likely paid at the master-trust level rather than the individual plan.

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MAYER HOFFMAN MCCANN P.C.
Auditor EIN: 431947695
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$95,325

$127,481-25.2%

$149,751-36.3%

$90,274+5.6%

Participation rate

98.1%

78.2%+19.9pp

82.5%+15.6pp

73.4%+24.8pp

Annual return

18.42%

57.78%-39.4pp

276.71%-258.3pp

53.97%-35.6pp

Employer contribution / active EE

$7,645

$3,448+121.7%

$4,646+64.5%

$2,523+202.9%

Participant deferral / active EE

$8,364

$6,975+19.9%

$6,843+22.2%

$4,231+97.7%

Admin fee / account holder

-$5

$152-103.5%

$9,312-100.1%

$114-104.7%

Provider

Service type

Compensation

THE PFE GROUP3 years

Service code 16 · EIN 71-1036677

Consulting

$79,428

FIDELITY INVESTMENTS INSTITUTIONAL6+ years

Service code 37 · EIN 04-2647786

Loan Processing

-$95,260

THE BROAD INSTITUTE, INC. 401(K) RETIREMENT PLAN

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

THE BROAD INSTITUTE, INC. 401(K) RETIREMENT PLAN

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