Retirement plan

UNIVERSITY FINANCIAL CORPORATION EMPLOYEE SAVINGS PLAN

Name: UNIVERSITY FINANCIAL CORPORATION - UNIVERSITY FINANCIAL CORPORATION EMPLOYEE SAVINGS PLAN (2024) Form 5500
Creator: UNIVERSITY FINANCIAL CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, UNIVERSITY FINANCIAL CORPORATION EMPLOYEE SAVINGS PLAN, UNIVERSITY FINANCIAL CORPORATION

UNIVERSITY FINANCIAL CORPORATIONdba SUNRISE BANKSEIN 41-1557799Plan #001PY 2024

2525 WABASH AVE - SAINT PAUL, MN 55114651-259-2268universityinnmn.comLinkedIn1-10 employeeshospitality

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$41.8M

+18.7% from 2023

Total participants

397

+5.9% from 2023

Average account balance

$107,660

+7.1% from 2023

Annual return

15.91%

-4.95 pp from 2023

Benchmarks

See 1,547 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,547 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$41.77M

Not enough data

1 years with asset history on file

Average account balance

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

$108K

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.

388

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.

97.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.93M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+15.91%

Not enough data

1 years with return on file

Admin fee / account holder

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

$312

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 4 by compensation

Provider	Service type	Compensation
NEWPORT GROUP, INC.9 years Service code 13 · EIN 27-2037969	Contract Administrator	$54,134
NFP RETIREMENT INC4 years Filed as: NFP RETIREMENT, INC. Service code 10 10 TERRACE CT. · MADISON, WI 53718	Accounting	$38,447
EIDE BAILLY LLP1 year Service code 10 · EIN 45-0250958	Accounting	$14,427
NEWPORT GROUP, INC.9 years Filed as: NEWPORT TRUST COMPANY Service code 12 · EIN 27-4411131	Trustee (directed); Custodial (securi...	$14,101

Plan features & details

Pension benefit codes2E2F2G2J2S2T3D3H

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).
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.
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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

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

$121K

$369 / participant

Recordkeeping$19K16.0%
Trustee / custodial$14K11.6%
Investment mgmt$38K31.7%
Contract admin$35K28.7%
Other / not subdivided$14K11.9%

% of EOY assets

0.290%

all-in expense ratio

Categories reported

4 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: EIDE BAILLY LLP
Auditor EIN: 450250958
Audit fees: $14,427
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$107,660

$129,227-16.7%

$184,260-41.6%

$77,736+38.5%

Participation rate

97.3%

87.4%+9.9pp

86.8%+10.4pp

70.6%+26.7pp

Annual return

15.91%

33.24%-17.3pp

28.84%-12.9pp

31.26%-15.3pp

Employer contribution / active EE

$3,823

$4,412-13.4%

$6,427-40.5%

$2,728+40.2%

Participant deferral / active EE

$8,150

$7,307+11.5%

$9,133-10.8%

$4,651+75.3%

Admin fee / account holder

$312

$256+22.1%

$13,898-97.8%

$433-28.0%

Provider

Service type

Compensation

NEWPORT GROUP, INC.9 years

Service code 13 · EIN 27-2037969

Contract Administrator

$54,134

NFP RETIREMENT INC4 years

Filed as: NFP RETIREMENT, INC.

Service code 10

10 TERRACE CT. · MADISON, WI 53718

Accounting

$38,447

EIDE BAILLY LLP1 year

Service code 10 · EIN 45-0250958

Accounting

$14,427

NEWPORT GROUP, INC.9 years

Filed as: NEWPORT TRUST COMPANY

Service code 12 · EIN 27-4411131

Trustee (directed); Custodial (securi...

$14,101

UNIVERSITY FINANCIAL CORPORATION EMPLOYEE SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

UNIVERSITY FINANCIAL CORPORATION EMPLOYEE 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