Retirement plan

TOUGALOO COLLEGE DEFINED CONTRIBUTION RETIREMENT PLAN

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

TOUGALOO COLLEGEEIN 64-0303093Plan #002PY 2023

500 W COUNTY LINE RD - TOUGALOO, MS 39174601-977-7700tougaloo.eduLinkedIn51-200 employeeshigher education

Prospect flagsLow returnsFailed to transmit contributions

How to read this page

Total assets (EOY)

$12.9M

+5.1% from 2022

Total participants

241

-9.1% from 2022

Average account balance

$56,612

+16.2% from 2022

Annual return

8.64%

+18.23 pp from 2022

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

$13.47M

Not enough data

1 years with asset history on file

Average account balance

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

$66K

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.

204

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

$582K

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

+8.29%

Not enough data

1 years with return on file

Admin fee / account holder

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

$64

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 codes2J2K2L2M

Plan features

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.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.

Opportunity flags

2 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$6K

$30 / participant

Contract admin$6K100.0%

% of EOY assets

0.044%

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: THE WESLEY PEACHTREE GROUP, CPAS
Auditor EIN: 581910650
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$56,612

$65,582-13.7%

$64,097-11.7%

$71,529-20.9%

Participation rate

93.0%

73.2%+19.8pp

72.3%+20.7pp

67.9%+25.0pp

Annual return

8.64%

18.96%-10.3pp

33.75%-25.1pp

28.97%-20.3pp

Employer contribution / active EE

$1,761

$2,671-34.0%

$2,750-35.9%

$2,590-32.0%

Participant deferral / active EE

$1,613

$3,628-55.5%

$3,881-58.4%

$4,291-62.4%

Admin fee / account holder

$25

$616-96.0%

$3,070-99.2%

$1,588-98.4%

TOUGALOO COLLEGE DEFINED CONTRIBUTION RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TOUGALOO 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