Retirement plan

THE MUSICAL ARTS ASSOCIATION 403(B) RETIREMENT PLAN

Name: THE MUSICAL ARTS ASSOCIATION - THE MUSICAL ARTS ASSOCIATION 403(B) RETIREMENT PLAN (2022) Form 5500
Creator: THE MUSICAL ARTS ASSOCIATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE MUSICAL ARTS ASSOCIATION 403(B) RETIREMENT PLAN, THE MUSICAL ARTS ASSOCIATION

THE MUSICAL ARTS ASSOCIATIONEIN 34-0714468Plan #002PY 2022

11001 EUCLID AVENUE - CLEVELAND, OH 441061713216-231-7300

Other plans on this EIN

1 filing

#001Retirement-$47.1M assets

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$29.7M

-16.4% from 2021

Total participants

263

0.0% from 2021

Average account balance

$114,762

-16.0% from 2021

Annual return

-17.50%

-30.48 pp from 2021

Benchmarks

See 638 peers

Peer group

Industry71 - Arts, Entertainment, and Recreation

Plan typeDefined contribution

Participants100-249

Cohort638 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$36.94M

Not enough data

1 years with asset history on file

Average account balance

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

$147K

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.

252

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.

96.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.87M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+11.56%

Not enough data

1 years with return on file

Admin fee / account holder

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

$259

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 2 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY8+ years Service code 13 · EIN 42-0127290	Contract Administrator	$125,945
GLOBAL RETIREMENT PARTNERS LLC7 years Service code 27 · EIN 47-1411118	Advisory (Plan)	$37,268

Plan features & details

Pension benefit codes2A2F2G2M2T

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.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
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.

Opportunity flags

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$126K

$612 / participant

Other / not subdivided$126K100.0%

% of EOY assets

0.424%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: RSM US LLP
Auditor EIN: 420714325
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$114,762

$45,602+151.7%

$117,529-2.4%

$66,949+71.4%

Participation rate

98.1%

57.6%+40.4pp

70.6%+27.5pp

69.8%+28.2pp

Annual return

-17.50%

-16.74%-0.8pp

29.77%-47.3pp

1.57%-19.1pp

Employer contribution / active EE

$8,500

$1,579+438.4%

$4,179+103.4%

$2,545+233.9%

Participant deferral / active EE

$4,355

$2,845+53.1%

$4,072+6.9%

$4,239+2.7%

Admin fee / account holder

$487

$661-26.3%

$5,645-91.4%

$594-18.0%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY8+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$125,945

GLOBAL RETIREMENT PARTNERS LLC7 years

Service code 27 · EIN 47-1411118

Advisory (Plan)

$37,268

THE MUSICAL ARTS ASSOCIATION 403(B) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE MUSICAL ARTS ASSOCIATION 403(B) 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