Retirement plan

QUEENS UNIVERSITY OF CHARLOTTE RETIREMENT PLAN

Name: QUEENS UNIVERSITY OF CHARLOTTE - QUEENS UNIVERSITY OF CHARLOTTE RETIREMENT PLAN (2024) Form 5500
Creator: QUEENS UNIVERSITY OF CHARLOTTE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, QUEENS UNIVERSITY OF CHARLOTTE RETIREMENT PLAN, QUEENS UNIVERSITY OF CHARLOTTE

QUEENS UNIVERSITY OF CHARLOTTEEIN 56-0530003Plan #001PY 2024

1900 SELWYN AVENUE - CHARLOTTE, NC 28274704-337-2485queens.eduLinkedIn201-500 employeeshigher education

Prospect flagsLow returns

How to read this page

Total assets (EOY)

$66.8M

+1.7% from 2023

Total participants

742

-1.2% from 2023

Average account balance

$95,269

+2.8% from 2023

Annual return

10.36%

-59.65 pp from 2023

Benchmarks

See 952 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants250-999

Cohort952 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$66.78M

Not enough data

1 years with asset history on file

Average account balance

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

$95K

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.

701

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.

87.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.61M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+10.36%

Not enough data

1 years with return on file

Admin fee / account holder

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

$217

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 3 by compensation

Provider	Service type	Compensation
BDO USA, LLP4 years Service code 10 · EIN 13-5381590	Accounting	$61,600
FLEXPATH STRATEGIES, LLC2 years Service code 27 · EIN 46-4782313	Advisory (Plan)	$26,935
NFP RETIREMENT INC2 years Filed as: NFP RETIREMENT INC. Service code 27 · EIN 33-0905143	Advisory (Plan)	$20,625

Plan features & details

Pension benefit codes2G2K2L2T2M3D

Plan features

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

1 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$152K

$464 / participant

Recordkeeping$27K17.7%
Contract admin$125K82.3%

% of EOY assets

0.228%

all-in expense ratio

Categories reported

2 / 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: BDO USA, P.C.
Auditor EIN: 135381590
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$95,269

$91,692+3.9%

$67,561+41.0%

$77,714+22.6%

Participation rate

87.5%

76.0%+11.5pp

72.9%+14.6pp

70.6%+16.9pp

Annual return

10.36%

14.88%-4.5pp

3525.44%-3515.1pp

31.26%-20.9pp

Employer contribution / active EE

$3,250

$3,188+2.0%

$2,735+18.9%

$2,727+19.2%

Participant deferral / active EE

$4,693

$3,912+20.0%

$4,003+17.2%

$4,649+0.9%

Admin fee / account holder

$217

$245-11.2%

$4,006-94.6%

$433-49.9%

Provider

Service type

Compensation

BDO USA, LLP4 years

Service code 10 · EIN 13-5381590

Accounting

$61,600

FLEXPATH STRATEGIES, LLC2 years

Service code 27 · EIN 46-4782313

Advisory (Plan)

$26,935

NFP RETIREMENT INC2 years

Filed as: NFP RETIREMENT INC.

Service code 27 · EIN 33-0905143

Advisory (Plan)

$20,625

QUEENS UNIVERSITY OF CHARLOTTE RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

QUEENS UNIVERSITY OF CHARLOTTE RETIREMENT 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