Retirement plan

BARRY UNIVERSITY 401(K) PLAN

Name: BARRY UNIVERSITY - BARRY UNIVERSITY 401(K) PLAN (2023) Form 5500
Creator: BARRY UNIVERSITY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BARRY UNIVERSITY 401(K) PLAN, BARRY UNIVERSITY

BARRY UNIVERSITYEIN 59-0624364Plan #002PY 2023

11300 NE 2ND AVE - MIAMI SHORES, FL 331616628305-899-4892barry.eduLinkedIn1001-5000 employeeshigher education

Other plans on this EIN

1 filing

#001Retirement-$121.9M assets

Prospect flagsLow participationLow employer contribution

How to read this page

Total assets (EOY)

$91.9M

+13.8% from 2022

Total participants

2,750

+13.4% from 2022

Average account balance

$80,394

+10.9% from 2022

Annual return

14.17%

+26.65 pp from 2022

Benchmarks

See 300 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort300 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$97.02M

Not enough data

1 years with asset history on file

Average account balance

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

$87K

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.

1,109

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.

26.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$5.97M

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

+12.09%

Not enough data

1 years with return on file

Admin fee / account holder

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

$244

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
TIAA9+ years Service code 26 · EIN 13-1624203 730 THIRD AVENUE · NEW YORK, NY 10017	Advisory (Participants)	$43,338
CAPFINANCIAL PARTNERS LLC2 years Filed as: CAPFINANCIAL PARTNERS, LLC Service code 27 · EIN 26-0058143 P.O. BOX 600071 · RALEIGH, NC 27675	Advisory (Plan)	$24,625
MARCUM LLP1 year Filed as: MARCUM, LLP Service code 10 · EIN 11-1986323 1 SE 3RD AVENUE · MIAMI, FL 33131	Accounting	$8,086

Plan features & details

Pension benefit codes2E2F2G2J2K3D

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.
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.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$259K

$117 / participant

Recordkeeping$32K12.4%
Investment mgmt$10K3.8%
Contract admin$25K9.7%
Other / not subdivided$192K74.1%

% of EOY assets

0.281%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MARCUM, LLP
Auditor EIN: 111986323
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$80,394

$105,179-23.6%

$64,097+25.4%

$80,169+0.3%

Participation rate

27.2%

73.5%-46.3pp

72.3%-45.1pp

72.9%-45.8pp

Annual return

14.17%

20.34%-6.2pp

33.75%-19.6pp

40.39%-26.2pp

Employer contribution / active EE

$880

$3,311-73.4%

$2,750-68.0%

$2,978-70.5%

Participant deferral / active EE

$2,037

$4,020-49.3%

$3,881-47.5%

$5,016-59.4%

Admin fee / account holder

$226

$113+99.8%

$3,070-92.6%

$145+56.1%

Provider

Service type

Compensation

TIAA9+ years

Service code 26 · EIN 13-1624203

730 THIRD AVENUE · NEW YORK, NY 10017

Advisory (Participants)

$43,338

CAPFINANCIAL PARTNERS LLC2 years

Filed as: CAPFINANCIAL PARTNERS, LLC

Service code 27 · EIN 26-0058143

P.O. BOX 600071 · RALEIGH, NC 27675

Advisory (Plan)

$24,625

MARCUM LLP1 year

Filed as: MARCUM, LLP

Service code 10 · EIN 11-1986323

1 SE 3RD AVENUE · MIAMI, FL 33131

Accounting

$8,086

BARRY UNIVERSITY 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BARRY UNIVERSITY 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