Retirement plan

UNIVERSITY BANCORP, INC. EMPLOYEE STOCK OWNERSHIP AND RETIREMENT SAVINGS PLAN

Name: UNIVERSITY BANCORP, INC. - UNIVERSITY BANCORP, INC. EMPLOYEE STOCK OWNERSHIP AND RETIREMENT SAVINGS PLAN (2023) Form 5500
Creator: UNIVERSITY BANCORP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, UNIVERSITY BANCORP, INC. EMPLOYEE STOCK OWNERSHIP AND RETIREMENT SAVINGS PLAN, UNIVERSITY BANCORP, INC.

UNIVERSITY BANCORP, INC.EIN 38-2929531Plan #002PY 2023

2015 WASHTENAW AVE. - ANN ARBOR, MI 48104734-741-5858LinkedIn1-10 employeesfinancial services

Prospect flagsLow returns

How to read this page

Total assets (EOY)

$30M

+18.4% from 2022

Total participants

668

-1.2% from 2022

Average account balance

$46,655

+12.3% from 2022

Annual return

11.65%

+28.83 pp from 2022

Benchmarks

See 1,522 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,522 peers

Snapshot2023

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$35.91M

Not enough data

1 years with asset history on file

Average account balance

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

$54K

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.

662

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.

86.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.25M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+13.10%

Not enough data

1 years with return on file

Admin fee / account holder

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

$240

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 4 by compensation

Provider	Service type	Compensation
LADENBURG THALMAN ASSET MANAGEMENT8 years Service code 33 570 LEXINGTON AVE · NEW YORK, NY 10022	Direct payment from the plan; Securit...	$76,280
WATKINS ROSS8 years Service code 33 · EIN 38-1477362 200 OTTAWA AVE NW · GRAND RAPIDS, MI 49503	Direct payment from the plan; Recordk...	$63,389
EPIC RETIREMENT PLAN SERVICES2 years Service code 64 150 STATE STREET · ROCHESTER, NY 14614	Recordkeeping Fees	$6,750
CHARLES SCHWAB & CO., INC.7 years Filed as: SCHWAB BANK Service code 33 · EIN 16-1450952 150 STATE STREET · ROCHESTER, NY 14614	Direct payment from the plan; Securit...	$1,187

Plan features & details

Pension benefit codes2E2F2H2J2K2O2T3I

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).
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
2O
ESOP other than a leveraged ESOP
Employee stock ownership plan that is not leveraged.
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.
3I
Employer securities investment required
Plan requiring that all or part of employer contributions be invested and held at least for a limited period in employer securities.

Opportunity flags

1 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$186K

$409 / participant

Recordkeeping$109K58.4%
Trustee / custodial$1K0.6%
Investment mgmt$76K40.9%

% of EOY assets

0.622%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: MANER COSTERISAN, P.C.
Auditor EIN: 382157642
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$46,655

$100,227-53.5%

$169,993-72.6%

$74,419-37.3%

Participation rate

94.3%

87.3%+7.0pp

87.0%+7.3pp

70.7%+23.6pp

Annual return

11.65%

66.08%-54.4pp

53.37%-41.7pp

34.38%-22.7pp

Employer contribution / active EE

$3,448

$4,263-19.1%

$6,785-49.2%

$2,637+30.7%

Participant deferral / active EE

$5,165

$7,143-27.7%

$10,408-50.4%

$4,528+14.1%

Admin fee / account holder

$290

$234+23.9%

$12,815-97.7%

$348-16.5%

Provider

Service type

Compensation

LADENBURG THALMAN ASSET MANAGEMENT8 years

Service code 33

570 LEXINGTON AVE · NEW YORK, NY 10022

Direct payment from the plan; Securit...

$76,280

WATKINS ROSS8 years

Service code 33 · EIN 38-1477362

200 OTTAWA AVE NW · GRAND RAPIDS, MI 49503

Direct payment from the plan; Recordk...

$63,389

EPIC RETIREMENT PLAN SERVICES2 years

Service code 64

150 STATE STREET · ROCHESTER, NY 14614

Recordkeeping Fees

$6,750

CHARLES SCHWAB & CO., INC.7 years

Filed as: SCHWAB BANK

Service code 33 · EIN 16-1450952

150 STATE STREET · ROCHESTER, NY 14614

Direct payment from the plan; Securit...

$1,187

UNIVERSITY BANCORP, INC. EMPLOYEE STOCK OWNERSHIP AND RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

UNIVERSITY BANCORP, INC. EMPLOYEE STOCK OWNERSHIP AND RETIREMENT SAVINGS 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