Retirement plan

FRIENDS UNIVERSITY DC AND TDA PLAN

Name: FRIENDS UNIVERSITY - FRIENDS UNIVERSITY DC AND TDA PLAN (2023) Form 5500
Creator: FRIENDS UNIVERSITY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FRIENDS UNIVERSITY DC AND TDA PLAN, FRIENDS UNIVERSITY

FRIENDS UNIVERSITYEIN 48-0547702Plan #001PY 2023

2100 WEST UNIVERSITY - WICHITA, KS 672133397316-295-5000friends.eduLinkedIn201-500 employeeshigher education

Prospect flagsLow participationLow employer contributionLow participant contribution

How to read this page

Total assets (EOY)

$36.2M

+10.6% from 2022

Total participants

844

+44.3% from 2022

Average account balance

$73,586

+13.3% from 2022

Annual return

18.10%

+31.40 pp from 2022

Benchmarks

See 964 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants250-999

Cohort964 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$36.91M

Not enough data

1 years with asset history on file

Average account balance

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

$75K

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.

489

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.

79.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.23M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+12.87%

Not enough data

1 years with return on file

Admin fee / account holder

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

$200

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 5 by compensation

Provider	Service type	Compensation
LINCOLN NATIONAL CORPORATION1 year Service code 13 · EIN 35-1140070	Contract Administrator	$30,109
FORVIS, LLP1 year Filed as: FORVIS Service code 10 · EIN 44-0160260	Accounting	$28,907
MARINER LLC1 year Filed as: MARINER WEALTH ADVISORS, LLC Service code 26 · EIN 87-1928698	Advisory (Participants)	$16,305
ECONOMIC GROUP PENSION SERVICES3 years Filed as: ECONOMIC GROUP PENSION SERVICES INC Service code 15 · EIN 13-3180178	Recordkeeping	$11,288
TIAA6 years Filed as: TIAA-TEACHERS INS & ANNUITY ASSOC Service code 13 · EIN 13-1624203	Contract Administrator	$1,570

Plan features & details

Pension benefit codes2F2G2K2L2M2T3D

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.
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.
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.

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.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$90K

$164 / participant

Contract admin$90K100.0%

% of EOY assets

0.248%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: FORVIS MAZARS, LLP
Auditor EIN: 440160260
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$73,586

$83,884-12.3%

$64,101+14.8%

$74,460-1.2%

Participation rate

35.8%

76.6%-40.8pp

72.3%-36.5pp

70.7%-35.0pp

Annual return

18.10%

16.57%+1.5pp

33.72%-15.6pp

34.38%-16.3pp

Employer contribution / active EE

$758

$3,084-75.4%

$2,749-72.4%

$2,638-71.3%

Participant deferral / active EE

$1,357

$3,692-63.3%

$3,881-65.0%

$4,530-70.1%

Admin fee / account holder

$183

$196-6.8%

$3,070-94.0%

$348-47.5%

Provider

Service type

Compensation

LINCOLN NATIONAL CORPORATION1 year

Service code 13 · EIN 35-1140070

Contract Administrator

$30,109

FORVIS, LLP1 year

Filed as: FORVIS

Service code 10 · EIN 44-0160260

Accounting

$28,907

MARINER LLC1 year

Filed as: MARINER WEALTH ADVISORS, LLC

Service code 26 · EIN 87-1928698

Advisory (Participants)

$16,305

ECONOMIC GROUP PENSION SERVICES3 years

Filed as: ECONOMIC GROUP PENSION SERVICES INC

Service code 15 · EIN 13-3180178

Recordkeeping

$11,288

TIAA6 years

Filed as: TIAA-TEACHERS INS & ANNUITY ASSOC

Service code 13 · EIN 13-1624203

Contract Administrator

$1,570

FRIENDS UNIVERSITY DC AND TDA PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FRIENDS UNIVERSITY DC AND TDA 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