Retirement plan

COUNCIL OF INDEPENDENT COLLEGES IN VIRGINIA 401(K) PLAN

Name: COUNCIL OF INDEPENDENT COLLEGES IN VIRGINIA, INC. - COUNCIL OF INDEPENDENT COLLEGES IN VIRGINIA 401(K) PLAN (2018) Form 5500
Creator: COUNCIL OF INDEPENDENT COLLEGES IN VIRGINIA, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, COUNCIL OF INDEPENDENT COLLEGES IN VIRGINIA 401(K) PLAN, COUNCIL OF INDEPENDENT COLLEGES IN VIRGINIA, INC.

COUNCIL OF INDEPENDENT COLLEGES IN VIRGINIA, INC.EIN 54-0887849Plan #001PY 2018

PO BOX 1005 - BEDFORD, VA 24523540-586-0606

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$2M

+2.6% from 2017

Total participants

+14.3% from 2017

Average account balance

$126,467

-10.2% from 2017

Annual return

-3.38%

-16.61 pp from 2017

Benchmarks

See 5,839 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants<25

Cohort5,839 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.08M

Not enough data

1 years with asset history on file

Average account balance

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

$340K

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.

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.

200.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$146K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$24K

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

+12.97%

Not enough data

1 years with return on file

Admin fee / account holder

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

$9059

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J3D

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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$59K

$9896 / participant

Other / not subdivided$59K100.0%

% of EOY assets

2.934%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$126,467

$69,518+81.9%

$59,887+111.2%

$135,379-6.6%

Participation rate

100.0%

77.8%+22.2pp

74.7%+25.3pp

82.6%+17.4pp

Annual return

-3.38%

7.95%-11.3pp

3.46%-6.8pp

519.79%-523.2pp

Employer contribution / active EE

$13,398

$3,235+314.2%

$2,722+392.1%

$4,779+180.4%

Participant deferral / active EE

$12,931

$4,204+207.6%

$3,402+280.1%

$5,609+130.5%

Admin fee / account holder

$3,711

$5,734-35.3%

$3,591+3.3%

$10,828-65.7%

COUNCIL OF INDEPENDENT COLLEGES IN VIRGINIA 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

COUNCIL OF INDEPENDENT COLLEGES IN VIRGINIA 401(K) 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