Retirement plan

PENNSYLVANIA ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES MULTIPLE EMPLOYER PLAN

Name: THE GOVERNING BOARD OF THE PENNSYLVANIA ASSOCIATION OF - PENNSYLVANIA ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES MULTIPLE EMPLOYER PLAN (2023) Form 5500
Creator: THE GOVERNING BOARD OF THE PENNSYLVANIA ASSOCIATION OF
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PENNSYLVANIA ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES MULTIPLE EMPLOYER PLAN, THE GOVERNING BOARD OF THE PENNSYLVANIA ASSOCIATION OF

THE GOVERNING BOARD OF THE PENNSYLVANIA ASSOCIATION OFdba INDEPENDENT COLLEGES & UNIVERSITIES MULTIPLE EMPLOYER PLANEIN 84-3430131Plan #333PY 2023

101 NORTH FRONT STREET - HARRISBURG, PA 17101717-232-8649

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$413.3M

-55.1% from 2021

Total participants

4,067

-18.4% from 2021

Average account balance

$106,552

-38.4% from 2021

Annual return

66.56%

-127.23 pp from 2021

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

$543.34M

Not enough data

1 years with asset history on file

Average account balance

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

$119K

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.

4,567

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.

91.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$14.48M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+37.17%

Not enough data

1 years with return on file

Admin fee / account holder

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

$221

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 9 by compensation

Provider	Service type	Compensation
MILLENNIUM INVESTMENT & RETIREMENT4+ years Filed as: MILLENIUM ADVISORY SERVICES, INC Service code 26 · EIN 54-2020086 5340 TWIN HICKORY RD · GLEN ALLEN, VA 230595682	Advisory (Participants)	$233,475
TIAA4+ years Service code 13 · EIN 13-1624203 730 THIRD AVENUE · NEW YORK, NY 100173206	Contract Administrator	$178,356
PLANPILOT, LLC3 years Filed as: PLANPILOT Service code 27 · EIN 45-4168388 223 W JACKSON BLVD · CHICAGO, IL 606066913	Advisory (Plan)	$80,750
PENTEGRA SERVICES, INC.3 years Service code 14 · EIN 13-3745616 701 WESTCHESTER AVENUE, STE 320E · WHITE PLAINS, NY 106043027	Plan Administrator	$79,576
CLIFTONLARSONALLEN LLP3 years Service code 14 · EIN 41-0746749 11710 BELTSVILLE DR · BELTSVILLE, MD 207053102	Plan Administrator	$26,728
PRM CONSULTING INC3 years Service code 16 · EIN 52-2156813 1814 13TH ST NW · WASHINGTON, DC 200094424	Consulting	$16,500
RIGGS COUNSELMAN MICHAELS & DOWNES2 years Filed as: RIGGS,CNSLMN,MICHAELS & DOWNES INC Service code 27 · EIN 52-0555835 555 FAIRMOUNT AVENUE · BALTIMORE, MD 21286	Advisory (Plan)	$9,164
LAW OFFICES OF ALLEN T STEINBERG PC2 years Service code 29 · EIN 20-5657685 811 ROSLYN TER · EVANSTON, IL 602011723	Legal	$6,000
AXA EQUITABLE LIFE INSURANCE CO2 years Filed as: AXA EQUITABLE LIFE INSURANCE CO. Service code 13 · EIN 13-5570651 120 MADISON STREET, STE 1900 · SYRACUSE, NY 13202	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

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

Admin total

$664K

$323 / participant

Investment mgmt$249K37.6%
Contract admin$389K58.6%
Other / not subdivided$26K3.9%

% of EOY assets

0.161%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$106,552

$105,179+1.3%

$64,110+66.2%

$80,187+32.9%

Participation rate

90.8%

73.5%+17.3pp

72.3%+18.5pp

72.9%+17.9pp

Annual return

66.56%

20.34%+46.2pp

33.75%+32.8pp

40.40%+26.2pp

Employer contribution / active EE

$2,937

$3,311-11.3%

$2,751+6.8%

$2,980-1.4%

Participant deferral / active EE

$2,438

$4,020-39.4%

$3,883-37.2%

$5,016-51.4%

Admin fee / account holder

$171

$113+51.0%

$3,071-94.4%

$145+18.0%

Provider

Service type

Compensation

MILLENNIUM INVESTMENT & RETIREMENT4+ years

Filed as: MILLENIUM ADVISORY SERVICES, INC

Service code 26 · EIN 54-2020086

5340 TWIN HICKORY RD · GLEN ALLEN, VA 230595682

Advisory (Participants)

$233,475

TIAA4+ years

Service code 13 · EIN 13-1624203

730 THIRD AVENUE · NEW YORK, NY 100173206

Contract Administrator

$178,356

PLANPILOT, LLC3 years

Filed as: PLANPILOT

Service code 27 · EIN 45-4168388

223 W JACKSON BLVD · CHICAGO, IL 606066913

Advisory (Plan)

$80,750

PENTEGRA SERVICES, INC.3 years

Service code 14 · EIN 13-3745616

701 WESTCHESTER AVENUE, STE 320E · WHITE PLAINS, NY 106043027

Plan Administrator

$79,576

CLIFTONLARSONALLEN LLP3 years

Service code 14 · EIN 41-0746749

11710 BELTSVILLE DR · BELTSVILLE, MD 207053102

Plan Administrator

$26,728

PRM CONSULTING INC3 years

Service code 16 · EIN 52-2156813

1814 13TH ST NW · WASHINGTON, DC 200094424

Consulting

$16,500

RIGGS COUNSELMAN MICHAELS & DOWNES2 years

Filed as: RIGGS,CNSLMN,MICHAELS & DOWNES INC

Service code 27 · EIN 52-0555835

555 FAIRMOUNT AVENUE · BALTIMORE, MD 21286

Advisory (Plan)

$9,164

LAW OFFICES OF ALLEN T STEINBERG PC2 years

Service code 29 · EIN 20-5657685

811 ROSLYN TER · EVANSTON, IL 602011723

Legal

$6,000

AXA EQUITABLE LIFE INSURANCE CO2 years

Filed as: AXA EQUITABLE LIFE INSURANCE CO.

Service code 13 · EIN 13-5570651

120 MADISON STREET, STE 1900 · SYRACUSE, NY 13202

Contract Administrator

PENNSYLVANIA ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES MULTIPLE EMPLOYER PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PENNSYLVANIA ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES MULTIPLE EMPLOYER 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