Retirement plan

MONTREAT COLLEGE RETIREMENT PLAN

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

MONTREAT COLLEGEEIN 56-0543261Plan #001PY 2024

PO BOX 1267 - MONTREAT, NC 287570121828-669-8012montreat.eduLinkedIn51-200 employeeshigher education

Prospect flagsLow employer contribution

Top hat statement on fileNQDC

Filed October 27, 2023

Plan administrator

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310 Gaither Circle

Montreat, NC 28757

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Plans declared (1)

Section 457(b) Deferred Compensation Agreement between Montreat College and Paul J. Maurer, Ph.D., M.Div.1 emp

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Total assets (EOY)

$9.7M

+11.2% from 2023

Total participants

291

-0.3% from 2023

Average account balance

$33,885

+8.9% from 2023

Annual return

13.39%

-3.06 pp from 2023

Benchmarks

See 1,577 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants100-249

Cohort1,577 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$9.66M

Not enough data

1 years with asset history on file

Average account balance

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

$34K

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.

285

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.

96.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$498K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+13.39%

Not enough data

1 years with return on file

Admin fee / account holder

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

$87

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 2 by compensation

Provider	Service type	Compensation
TWO WEST CAPITAL ADVISORS1 year Service code 28 · EIN 27-3055170 1582 N 1060 RD · LAWRENCEVILLE, KS 66046	Investment Management	$14,577
TIAA2 years Filed as: TIAA-TEACHERS INSURANCE AND ANNUITY Service code 15 · EIN 13-1624203 730 THIRD AVE. · NEW YORK, NY 100173206	Recordkeeping	$1,758

Plan features & details

Pension benefit codes2G2J2K2L3D

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.
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.
2L
Code section 403(b)(1) arrangement
Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
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 employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$25K

$152 / participant

Contract admin$25K98.6%
Other / not subdivided$3581.4%

% of EOY assets

0.257%

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: SIKICH CPA LLC
Auditor EIN: 541172176
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$33,885

$69,774-51.4%

$67,561-49.8%

$74,429-54.5%

Participation rate

96.3%

71.4%+25.0pp

72.9%+23.4pp

67.2%+29.1pp

Annual return

13.39%

-40.53%+53.9pp

3525.44%-3512.1pp

1368.38%-1355.0pp

Employer contribution / active EE

$423

$2,710-84.4%

$2,735-84.5%

$2,625-83.9%

Participant deferral / active EE

$2,614

$3,636-28.1%

$4,003-34.7%

$4,348-39.9%

Admin fee / account holder

$87

$890-90.2%

$4,006-97.8%

$1,944-95.5%

Provider

Service type

Compensation

TWO WEST CAPITAL ADVISORS1 year

Service code 28 · EIN 27-3055170

1582 N 1060 RD · LAWRENCEVILLE, KS 66046

Investment Management

$14,577

TIAA2 years

Filed as: TIAA-TEACHERS INSURANCE AND ANNUITY

Service code 15 · EIN 13-1624203

730 THIRD AVE. · NEW YORK, NY 100173206

Recordkeeping

$1,758

MONTREAT COLLEGE RETIREMENT 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

MONTREAT COLLEGE RETIREMENT 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