Retirement plan

HOOD THEOLOGICAL SEMINARY 403(B) DC PLAN

Name: HOOD THEOLOGICAL SEMINARY - HOOD THEOLOGICAL SEMINARY 403(B) DC PLAN (2024) Form 5500
Creator: HOOD THEOLOGICAL SEMINARY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HOOD THEOLOGICAL SEMINARY 403(B) DC PLAN, HOOD THEOLOGICAL SEMINARY

HOOD THEOLOGICAL SEMINARYdba HOOD THEOLOGICAL SEMINARYEIN 56-2231069Plan #001PY 2024

1810 LUTHERAN SYNOD DR - SALISBURY, NC 281445768704-636-6454hoodseminary.eduLinkedIn51-200 employeesmental health care

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$3.3M

+11.0% from 2023

Total participants

-32.0% from 2023

Average account balance

$99,864

+7.7% from 2023

Annual return

11.94%

-2.42 pp from 2023

Benchmarks

See 8,071 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants<25

Cohort8,071 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.00M

Not enough data

1 years with asset history on file

Average account balance

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

$88K

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.

188.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$125K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+13.18%

Not enough data

1 years with return on file

Admin fee / account holder

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

$25460

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 codes2L2C2G2F2M2T3D

Plan features

2C
Money purchase plan
Money purchase pension plan other than a target benefit 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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$163K

$8556 / participant

Other / not subdivided$163K100.0%

% of EOY assets

4.933%

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

$99,864

$72,396+37.9%

$67,511+47.9%

$145,959-31.6%

Participation rate

94.7%

76.9%+17.9pp

72.9%+21.8pp

80.3%+14.5pp

Annual return

11.94%

7194.07%-7182.1pp

3517.41%-3505.5pp

561.95%-550.0pp

Employer contribution / active EE

$2,576

$3,071-16.1%

$2,733-5.7%

$4,661-44.7%

Participant deferral / active EE

$3,720

$4,781-22.2%

$4,000-7.0%

$6,689-44.4%

Admin fee / account holder

$4,926

$5,538-11.1%

$3,999+23.2%

$13,398-63.2%

HOOD THEOLOGICAL SEMINARY 403(B) DC PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HOOD THEOLOGICAL SEMINARY 403(B) DC 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