Retirement plan

BAKER COLLEGE PROFESSIONAL SERVICES 403(B) PLAN

Name: BAKER COLLEGE PROFESSIONAL SERVICES, INC. - BAKER COLLEGE PROFESSIONAL SERVICES 403(B) PLAN (2024) Form 5500
Creator: BAKER COLLEGE PROFESSIONAL SERVICES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BAKER COLLEGE PROFESSIONAL SERVICES 403(B) PLAN, BAKER COLLEGE PROFESSIONAL SERVICES, INC.

BAKER COLLEGE PROFESSIONAL SERVICES, INC.EIN 38-3043861Plan #005PY 2024

1020 S. WASHINGTON STREET - OWOSSO, MI 48867989-729-3350LinkedIn201-500 employeese-learning

Other plans on this EIN

2 filings

#003Retirement-$83.9M assets #004Retirement-$6.8M assets

Prospect flagsLow participationLow participant contributionCorrective distributions

Top hat statement on fileNQDC

Filed August 11, 2020

Plan administrator

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1020 S Washington St

Owosso, MI 48867

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Plans declared (1)

Baker College Deferred Compensation2 emp

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Total assets (EOY)

$9.7M

+5.6% from 2023

Total participants

882

-3.5% from 2023

Average account balance

$37,292

+8.5% from 2023

Annual return

13.25%

-42.19 pp from 2023

Benchmarks

See 950 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants250-999

Cohort950 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$9.66M

Not enough data

1 years with asset history on file

Average account balance

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

$37K

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.

259

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.

26.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.10M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+13.25%

Not enough data

1 years with return on file

Admin fee / account holder

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

$226

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
LINCOLN NATIONAL CORPORATION3+ years Service code 13 · EIN 35-0472300	Contract Administrator	$44,256
MASSACHUSETTS MUTUAL LIFE INS. CO.2 years Filed as: MML INVESTOR SERVICES Service code 27 · EIN 04-1590850	Advisory (Plan)	$14,223

Plan features & details

Pension benefit codes2A2F2G2L2M2T3D3H

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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$58K

$69 / participant

Investment mgmt$14K24.3%
Contract admin$44K75.7%

% of EOY assets

0.605%

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: LEWIS & KNOPF, P.C.
Auditor EIN: 383205662
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$37,292

$91,710-59.3%

$67,560-44.8%

$77,762-52.0%

Participation rate

26.5%

76.0%-49.5pp

72.9%-46.4pp

70.6%-44.1pp

Annual return

13.25%

14.88%-1.6pp

3533.50%-3520.2pp

31.27%-18.0pp

Employer contribution / active EE

$3,187-100.0%

$2,737-100.0%

$2,728-100.0%

Participant deferral / active EE

$1,295

$3,911-66.9%

$4,004-67.7%

$4,651-72.2%

Admin fee / account holder

$226

$245-7.8%

$3,994-94.3%

$433-47.8%

Provider

Service type

Compensation

LINCOLN NATIONAL CORPORATION3+ years

Service code 13 · EIN 35-0472300

Contract Administrator

$44,256

MASSACHUSETTS MUTUAL LIFE INS. CO.2 years

Filed as: MML INVESTOR SERVICES

Service code 27 · EIN 04-1590850

Advisory (Plan)

$14,223

BAKER COLLEGE PROFESSIONAL SERVICES 403(B) 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

BAKER COLLEGE PROFESSIONAL SERVICES 403(B) 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