Retirement plan

SECTION 403(B) DEFINED CONTRIBUTION PLAN FOR TAX-EXEMPT COLLEGES AND UNIVERSITIES IN VIRGINIA

Name: THE GOVERNING COMMITTEE OF THE SECTION 403(B) DEFINED CONTRIBUTION - SECTION 403(B) DEFINED CONTRIBUTION PLAN FOR TAX-EXEMPT COLLEGES AND UNIVERSITIES IN VIRGINIA (2018) Form 5500
Creator: THE GOVERNING COMMITTEE OF THE SECTION 403(B) DEFINED CONTRIBUTION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SECTION 403(B) DEFINED CONTRIBUTION PLAN FOR TAX-EXEMPT COLLEGES AND UNIVERSITIES IN VIRGINIA, THE GOVERNING COMMITTEE OF THE SECTION 403(B) DEFINED CONTRIBUTION

THE GOVERNING COMMITTEE OF THE SECTION 403(B) DEFINED CONTRIBUTIONdba PLAN FOR TAX EXEMPT COLLEGES AND UNIVERSITIES IN VIRGINIAEIN 82-4833402Plan #333PY 2018

118 E. MAIN STREET - BEDFORD, VA 24523540-586-2630

Prospect flagsLow employer contributionLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$372.4M

-48.5% from 2019

Total participants

5,522

-37.2% from 2019

Average account balance

$71,747

-14.7% from 2019

Annual return

0.00%

-102.12 pp from 2019

Benchmarks

See 265 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort265 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.28B

Not enough data

1 years with asset history on file

Average account balance

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

$110K

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.

11,712

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.

91.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$39.73M

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

+27.28%

Not enough data

1 years with return on file

Admin fee / account holder

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

$266

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 7 by compensation

Provider	Service type	Compensation
MILLENNIUM INVESTMENT & RETIREMENT1+ years Filed as: MILLENIUM ADVISORY SERVICES, INC Service code 26 · EIN 54-2020086 5340 TWIN HICKORY RD. · GLEN ALLEN, VA 230595682	Advisory (Participants)	$76,821
TROUTMAN SANDERS LLP1+ years Filed as: TROUTMAN Service code 29	Legal	$51,000
TIAA1+ years Service code 13 · EIN 13-1624203 730 THIRD AVE. · NEW YORK, NC 100173206	Contract Administrator	$28,667
PENTEGRA SERVICES, INC.1+ years Filed as: PENTEGRA RETIREMENT SERVICES, INC. Service code 14 · EIN 13-3745616 701 WESTCHESTER AVE., SUITE 320E · WHITE PLAINS, NY 10604	Plan Administrator	$11,966
SAGE ADVISORY SERVICES1+ years Filed as: SAGE VIEW Service code 27	Advisory (Plan)	$8,750
CPI QUALIFIED PLAN CONSULTANTS, INC1+ years Filed as: CPI QUALIFIED CONSULTANTS, INC. Service code 12 · EIN 48-1205033 1809 24TH ST., PO BOX 1167 · GREAT BEND, KS 67530	Recordkeeping and information managem...	$625
FIDELITY INVESTMENTS INSTITUTIONAL1+ years Filed as: FIDELITY INVESTMENTS Service code 13	Contract Administrator	$0

Plan features & details

Pension benefit codes2E2G2L2T

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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

3 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow employer contribution
Employer contribution per participant 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

$269K

$91 / participant

Investment mgmt$86K31.8%
Contract admin$29K10.7%
Other / not subdivided$155K57.5%

% of EOY assets

0.072%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: CLIFTONLARSONALLEN LLP
Auditor EIN: 410746749
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$71,747

$87,173-17.7%

$59,899+19.8%

$75,289-4.7%

Participation rate

88.8%

74.5%+14.3pp

74.7%+14.1pp

72.4%+16.3pp

Annual return

0.00%

-2.14%+2.1pp

3.46%-3.5pp

-0.04%0pp

Employer contribution / active EE

$662

$3,473-80.9%

$2,723-75.7%

$2,405-72.5%

Participant deferral / active EE

$598

$3,379-82.3%

$3,403-82.4%

$3,739-84.0%

Admin fee / account holder

$52

$75-30.7%

$3,592-98.6%

$102-49.3%

Provider

Service type

Compensation

MILLENNIUM INVESTMENT & RETIREMENT1+ years

Filed as: MILLENIUM ADVISORY SERVICES, INC

Service code 26 · EIN 54-2020086

5340 TWIN HICKORY RD. · GLEN ALLEN, VA 230595682

Advisory (Participants)

$76,821

TROUTMAN SANDERS LLP1+ years

Filed as: TROUTMAN

Service code 29

Legal

$51,000

TIAA1+ years

Service code 13 · EIN 13-1624203

730 THIRD AVE. · NEW YORK, NC 100173206

Contract Administrator

$28,667

PENTEGRA SERVICES, INC.1+ years

Filed as: PENTEGRA RETIREMENT SERVICES, INC.

Service code 14 · EIN 13-3745616

701 WESTCHESTER AVE., SUITE 320E · WHITE PLAINS, NY 10604

Plan Administrator

$11,966

SAGE ADVISORY SERVICES1+ years

Filed as: SAGE VIEW

Service code 27

Advisory (Plan)

$8,750

CPI QUALIFIED PLAN CONSULTANTS, INC1+ years

Filed as: CPI QUALIFIED CONSULTANTS, INC.

Service code 12 · EIN 48-1205033

1809 24TH ST., PO BOX 1167 · GREAT BEND, KS 67530

Recordkeeping and information managem...

$625

FIDELITY INVESTMENTS INSTITUTIONAL1+ years

Filed as: FIDELITY INVESTMENTS

Service code 13

Contract Administrator

SECTION 403(B) DEFINED CONTRIBUTION PLAN FOR TAX-EXEMPT COLLEGES AND UNIVERSITIES IN VIRGINIA

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SECTION 403(B) DEFINED CONTRIBUTION PLAN FOR TAX-EXEMPT COLLEGES AND UNIVERSITIES IN VIRGINIA

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