Retirement plan

LEMOYNE OWEN COLLEGE DEFINED CONTRIBUTION RETIREMENT PLAN

Name: LEMOYNE OWEN COLLEGE - LEMOYNE OWEN COLLEGE DEFINED CONTRIBUTION RETIREMENT PLAN (2023) Form 5500
Creator: LEMOYNE OWEN COLLEGE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LEMOYNE OWEN COLLEGE DEFINED CONTRIBUTION RETIREMENT PLAN, LEMOYNE OWEN COLLEGE

LEMOYNE OWEN COLLEGEEIN 62-0475690Plan #004PY 2023

807 WALKER AVE - MEMPHIS, TN 381266510901-435-1000loc.eduLinkedIn501-1000 employeeshigher education

Other plans on this EIN

1 filing

#003Retirement-$376K assets

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$10M

-6.6% from 2021

Total participants

260

+1.2% from 2021

Average account balance

$39,093

-11.3% from 2021

Annual return

13.38%

+2.52 pp from 2021

Benchmarks

See 1,530 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants100-249

Cohort1,530 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$9.84M

Not enough data

1 years with asset history on file

Average account balance

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

$38K

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.

261

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.

94.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$320K

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

+10.87%

Not enough data

1 years with return on file

Admin fee / account holder

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

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

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 codes2G2K2L2M2T

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.

Opportunity flags

1 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Plan-level admin expenses are zero - fees are likely paid at the master-trust level rather than the individual plan.

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: THE WESLEY PEACHTREE GROUP, CPAS
Auditor EIN: 581910650
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$39,093

$65,582-40.4%

$64,101-39.0%

$71,511-45.3%

Participation rate

95.8%

73.2%+22.6pp

72.3%+23.5pp

67.9%+27.9pp

Annual return

13.38%

18.96%-5.6pp

33.72%-20.3pp

28.86%-15.5pp

Employer contribution / active EE

$1,124

$2,671-57.9%

$2,749-59.1%

$2,589-56.6%

Participant deferral / active EE

$1,935

$3,628-46.7%

$3,881-50.1%

$4,291-54.9%

Admin fee / account holder

$616-100.0%

$3,070-100.0%

$1,588-100.0%

LEMOYNE OWEN COLLEGE DEFINED CONTRIBUTION RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LEMOYNE OWEN COLLEGE DEFINED CONTRIBUTION 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