Retirement plan

UNIVERSITY OF MINNESOTA PHYSICIANS RETIREMENT SAVINGS & 401(K) PLAN

Name: UNIVERSITY OF MINNESOTA PHYSICIANS - UNIVERSITY OF MINNESOTA PHYSICIANS RETIREMENT SAVINGS & 401(K) PLAN (2017) Form 5500
Creator: UNIVERSITY OF MINNESOTA PHYSICIANS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, UNIVERSITY OF MINNESOTA PHYSICIANS RETIREMENT SAVINGS & 401(K) PLAN, UNIVERSITY OF MINNESOTA PHYSICIANS

UNIVERSITY OF MINNESOTA PHYSICIANSEIN 41-1843943Plan #002PY 2017

720 WASHINGTON AVE, SUITE 200 - MINNEAPOLIS, MN 55414612-884-0600umphysicians.orgLinkedIn1001-5000 employeeshospital & health care

Prospect flagsCorrective distributions

Top hat statement on fileNQDC

Filed October 10, 2018

Plan administrator

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720 Washington Ave SE, Suite 200

Minneapolis State: MN Zip Code: 55414

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Plans declared (1)

University of Minnesota Physicians 457(b) Deferred Compensation Plan40 emp

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Total assets (EOY)

$492.2M

-11.1% from 2016

Total participants

4,150

-10.1% from 2016

Average account balance

$119,746

-1.7% from 2016

Annual return

17.94%

-10.17 pp from 2016

Benchmarks

See 1,308 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants1,000-4,999

Cohort1,308 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.11B

Not enough data

1 years with asset history on file

Average account balance

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

$187K

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.

5,912

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.

96.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$87.30M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$18K

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

+15.46%

Not enough data

1 years with return on file

Admin fee / account holder

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

$86

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
MERRILL LYNCH PIERCE FENNER & SMITH3+ years Filed as: MERRILL LYNCH, PIERCE, FENNER AND S Service code 15 · EIN 13-5674085	Recordkeeping	$251,522
MERCER1 year Filed as: PAVILION ADVISORY GROUP INC. Service code 50 43 MAIN STREET SE · MINNEAPOLIS, MN 55414	Direct Payment	$44,000
JEFFREY SLOCUM & ASSOCIATES3+ years Service code 70 43 MAIN STREET SE, STE. 300 · MINNEAPOLIS, MN 554141032	Consulting Fees	$22,000
TAX SHELTERED COMPENSATION, INC.3+ years Service code 50 7300 METRO BLVD. · EDINA, MN 55439	Direct Payment	$9,200

Plan features & details

Pension benefit codes2E2F2G2J2R2S2T2K

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.
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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.

Opportunity flags

1 tripped

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$318K

$100 / participant

Other / not subdivided$318K100.0%

% of EOY assets

0.065%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: KPMG
Auditor EIN: 135565207
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$119,746

$44,989+166.2%

$170,435-29.7%

$77,958+53.6%

Participation rate

98.7%

64.6%+34.1pp

83.6%+15.1pp

71.6%+27.1pp

Annual return

17.94%

19.61%-1.7pp

205.94%-188.0pp

20.87%-2.9pp

Employer contribution / active EE

$9,991

$1,466+581.4%

$5,432+83.9%

$2,310+332.4%

Participant deferral / active EE

$4,204

$2,208+90.5%

$4,939-14.9%

$3,537+18.9%

Admin fee / account holder

$77

$69+12.3%

$13,881-99.4%

$97-20.5%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH3+ years

Filed as: MERRILL LYNCH, PIERCE, FENNER AND S

Service code 15 · EIN 13-5674085

Recordkeeping

$251,522

MERCER1 year

Filed as: PAVILION ADVISORY GROUP INC.

Service code 50

43 MAIN STREET SE · MINNEAPOLIS, MN 55414

Direct Payment

$44,000

JEFFREY SLOCUM & ASSOCIATES3+ years

Service code 70

43 MAIN STREET SE, STE. 300 · MINNEAPOLIS, MN 554141032

Consulting Fees

$22,000

TAX SHELTERED COMPENSATION, INC.3+ years

Service code 50

7300 METRO BLVD. · EDINA, MN 55439

Direct Payment

$9,200

UNIVERSITY OF MINNESOTA PHYSICIANS RETIREMENT SAVINGS & 401(K) 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

UNIVERSITY OF MINNESOTA PHYSICIANS RETIREMENT SAVINGS & 401(K) 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