Retirement plan

UNIVERSITY OF MOUNT UNION DEFINED CONTRIBUTION RETIREMENT PLAN

Name: UNIVERSITY OF MOUNT UNION - UNIVERSITY OF MOUNT UNION DEFINED CONTRIBUTION RETIREMENT PLAN (2023) Form 5500
Creator: UNIVERSITY OF MOUNT UNION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, UNIVERSITY OF MOUNT UNION DEFINED CONTRIBUTION RETIREMENT PLAN, UNIVERSITY OF MOUNT UNION

UNIVERSITY OF MOUNT UNIONEIN 34-0714687Plan #002PY 2023

1972 CLARK AVE - ALLIANCE, OH 44601330-823-6572mountunion.eduLinkedIn201-500 employeeshigher education

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$95.5M

+11.5% from 2022

Total participants

845

-5.7% from 2022

Average account balance

$116,520

+13.2% from 2022

Annual return

13.62%

+24.64 pp from 2022

Benchmarks

See 964 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants250-999

Cohort964 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$103.29M

Not enough data

1 years with asset history on file

Average account balance

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

$127K

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.

813

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.

95.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.66M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+11.71%

Not enough data

1 years with return on file

Admin fee / account holder

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

$111

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
UNIVERSITY OF MOUNT UNION4 years Service code 51 · EIN 34-0714687	Investment Mgmt Fees	$48,818
TIAA4 years Service code 64 · EIN 13-1624203	Recordkeeping Fees	$35,587

Plan features & details

Pension benefit codes2F2G2L2M2T3D

Plan features

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.
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

0 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$164K

$399 / participant

Recordkeeping$10K6.2%
Contract admin$154K93.8%

% of EOY assets

0.172%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: FORVIS MAZARS, LLP
Auditor EIN: 440160260
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$116,520

$83,884+38.9%

$64,101+81.8%

$74,460+56.5%

Participation rate

93.9%

76.6%+17.3pp

72.3%+21.6pp

70.7%+23.2pp

Annual return

13.62%

16.57%-3.0pp

33.72%-20.1pp

34.38%-20.8pp

Employer contribution / active EE

$5,356

$3,084+73.7%

$2,749+94.8%

$2,638+103.0%

Participant deferral / active EE

$1,955

$3,692-47.0%

$3,881-49.6%

$4,530-56.8%

Admin fee / account holder

$201

$196+2.3%

$3,070-93.5%

$348-42.3%

Provider

Service type

Compensation

UNIVERSITY OF MOUNT UNION4 years

Service code 51 · EIN 34-0714687

Investment Mgmt Fees

$48,818

TIAA4 years

Service code 64 · EIN 13-1624203

Recordkeeping Fees

$35,587

UNIVERSITY OF MOUNT UNION DEFINED CONTRIBUTION RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

UNIVERSITY OF MOUNT UNION 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