Retirement plan

MCCORMICK THEOLOGICAL SEMINARY DC RETIREMENT PLAN

Name: MCCORMICK THEOLOGICAL SEMINARY - MCCORMICK THEOLOGICAL SEMINARY DC RETIREMENT PLAN (2024) Form 5500
Creator: MCCORMICK THEOLOGICAL SEMINARY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MCCORMICK THEOLOGICAL SEMINARY DC RETIREMENT PLAN, MCCORMICK THEOLOGICAL SEMINARY

MCCORMICK THEOLOGICAL SEMINARYEIN 36-2167802Plan #001PY 2024

5416 S. CORNELL, 5TH FLOOR - CHICAGO, IL 60615773-947-6300mccormick.eduLinkedIn51-200 employeesreligious institutions

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$8.7M

-12.2% from 2023

Total participants

-8.4% from 2023

Average account balance

$99,779

-10.2% from 2023

Annual return

12.33%

-0.14 pp from 2023

Benchmarks

See 4,486 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants25-99

Cohort4,486 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.68M

Not enough data

1 years with asset history on file

Average account balance

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

$100K

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.

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.

280.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$232K

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

+12.33%

Not enough data

1 years with return on file

Admin fee / account holder

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

$30592

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2F2G2L2T3D

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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$2.7M

$85856 / participant

Other / not subdivided$3M100.0%

% of EOY assets

30.660%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$99,779

$48,277+106.7%

$67,511+47.8%

$80,874+23.4%

Participation rate

100.0%

66.4%+33.6pp

72.9%+27.1pp

67.6%+32.4pp

Annual return

12.33%

18.27%-5.9pp

3517.41%-3505.1pp

35.62%-23.3pp

Employer contribution / active EE

$5,497

$2,021+172.0%

$2,733+101.2%

$2,756+99.5%

Participant deferral / active EE

$1,988

$2,926-32.0%

$4,000-50.3%

$4,297-53.7%

Admin fee / account holder

$30,592

$3,687+729.7%

$3,999+665.0%

$6,935+341.1%

MCCORMICK THEOLOGICAL SEMINARY DC RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MCCORMICK THEOLOGICAL SEMINARY DC 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