Retirement plan

UMMS VOLUNTARY 403(B) PLAN

Name: UNIVERSITY OF MARYLAND MEDICAL SYSTEM CORPORATION - UMMS VOLUNTARY 403(B) PLAN (2023) Form 5500
Creator: UNIVERSITY OF MARYLAND MEDICAL SYSTEM CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, UMMS VOLUNTARY 403(B) PLAN, UNIVERSITY OF MARYLAND MEDICAL SYSTEM CORPORATION

UNIVERSITY OF MARYLAND MEDICAL SYSTEM CORPORATIONEIN 52-1362793Plan #004PY 2023

920 ELKRIDGE LANDING ROAD - LINTHICUM, MD 21090443-462-5365dimensionshealth.orgLinkedIn1001-5000 employeeshospital & health care

Other plans on this EIN

7 filings

#005Retirement-$559.3M assets #001Retirement-$475.0M assets #009Retirement-$172.3M assets #006Retirement-$160.2M assets #008Retirement-$70.3M assets #007Retirement-$6.7M assets #002Retirement--

Prospect flagsLow returnsLow employer contributionFailed to transmit contributionsCorrective distributions

Top hat statement on fileNQDC

Filed May 16, 2006

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$733.4M

+8.9% from 2022

Total participants

7,190

-17.4% from 2022

Average account balance

$102,000

+31.9% from 2022

Annual return

10.84%

+29.80 pp from 2022

Benchmarks

See 225 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants5,000-9,999

Cohort225 peers

Snapshot2023

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Analytics

Total assets (EOY)

Plan-year ending balance

$793.37M

Not enough data

1 years with asset history on file

Average account balance

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

$120K

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.

6,602

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.

52.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$35.19M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+15.34%

Not enough data

1 years with return on file

Admin fee / account holder

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

$37

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 5 by compensation

Provider	Service type	Compensation
PRUDENTIAL RETIREMENT INSURANCE AND9+ years Service code 13 · EIN 06-1050034	Contract Administrator	$57,760
NFP RETIREMENT INC1 year Filed as: NFP RETIREMENT, INC. Service code 27 · EIN 33-0905143	Advisory (Plan)	$28,969
ERNST & YOUNG LLP3 years Filed as: ERNST & YOUNG Service code 10 · EIN 34-6565596	Accounting	$27,500
ASSET STRATEGY CONSULTANTS9+ years Service code 27 · EIN 52-1788440	Advisory (Plan)	$24,219
CLIFTONLARSONALLEN LLP9+ years Filed as: CLIFTON LARSON ALLEN LLP Service code 10 · EIN 41-0746749	Accounting	$19,719

Plan features & details

Pension benefit codes2L2M2F2G2R2T3H

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

4 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$164K

$33 / participant

Investment mgmt$53K32.4%
Contract admin$59K35.7%
Other / not subdivided$52K31.9%

% of EOY assets

0.022%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.

Auditor firm: CLIFTONLARSONALLEN, LLP
Auditor EIN: 410746749
Audit fees: $47,219
Opinion code: Disclaimer

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$102,000

$59,339+71.9%

$149,673-31.9%

$103,482-1.4%

Participation rate

100.0%

70.2%+29.8pp

78.8%+21.2pp

73.3%+26.7pp

Annual return

10.84%

77.78%-66.9pp

134.42%-123.6pp

33.11%-22.3pp

Employer contribution / active EE

$2,178-100.0%

$4,818-100.0%

$3,208-100.0%

Participant deferral / active EE

$7,147

$3,716+92.3%

$5,680+25.8%

$5,207+37.3%

Admin fee / account holder

$23

$103-77.8%

$13,210-99.8%

$114-80.0%

Provider

Service type

Compensation

PRUDENTIAL RETIREMENT INSURANCE AND9+ years

Service code 13 · EIN 06-1050034

Contract Administrator

$57,760

NFP RETIREMENT INC1 year

Filed as: NFP RETIREMENT, INC.

Service code 27 · EIN 33-0905143

Advisory (Plan)

$28,969

ERNST & YOUNG LLP3 years

Filed as: ERNST & YOUNG

Service code 10 · EIN 34-6565596

Accounting

$27,500

ASSET STRATEGY CONSULTANTS9+ years

Service code 27 · EIN 52-1788440

Advisory (Plan)

$24,219

CLIFTONLARSONALLEN LLP9+ years

Filed as: CLIFTON LARSON ALLEN LLP

Service code 10 · EIN 41-0746749

Accounting

$19,719

UMMS VOLUNTARY 403(B) PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

UMMS VOLUNTARY 403(B) PLAN

Top hat statement on fileNQDC

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