Retirement plan

ACADEMY OF ART UNIVERSITY 401(K) RETIREMENT PLAN

Name: STEPHENS INSTITUTE DBA ACADEMY OF ART UNIVERSITY - ACADEMY OF ART UNIVERSITY 401(K) RETIREMENT PLAN (2023) Form 5500
Creator: STEPHENS INSTITUTE DBA ACADEMY OF ART UNIVERSITY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ACADEMY OF ART UNIVERSITY 401(K) RETIREMENT PLAN, STEPHENS INSTITUTE DBA ACADEMY OF ART UNIVERSITY

STEPHENS INSTITUTE DBA ACADEMY OF ART UNIVERSITYEIN 94-1637804Plan #002PY 2023

79 NEW MONTGOMERY STREET - SAN FRANCISCO, CA 94105415-618-3992

Prospect flagsLow participation

How to read this page

Total assets (EOY)

$79.2M

+15.8% from 2022

Total participants

1,686

+9.6% from 2022

Average account balance

$93,151

+19.0% from 2022

Annual return

19.15%

+36.77 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

$85.65M

Not enough data

1 years with asset history on file

Average account balance

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

$107K

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.

802

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.

40.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.48M

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

+13.85%

Not enough data

1 years with return on file

Admin fee / account holder

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

$249

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 4 by compensation

Provider	Service type	Compensation
CERITY PARTNERS6 years Service code 17 11601 WILSHIRE BOULEVARD · LOS ANGELES, CA 90025	Pension Consulting	$66,430
JULY BUSINESS SERVICES1 year Filed as: JULY BUSINESS SERVICES LLC Service code 15 · EIN 74-2715820 P.O. BOX 2208 · WACO, TX 76703	Recordkeeping	$5,840
CHARLES SCHWAB & CO., INC.6 years Filed as: CHARLES SCHWAB BANK Service code 18 · EIN 42-1558009	Shareholder servicing fees; Custodial...	$0
DIGITAL RETIREMENT SOLUTIONS, INC.9+ years Service code 12 · EIN 84-1477138	Direct payment from the plan; Recordk...	$0

Plan features & details

Pension benefit codes2F2G2J2K2T3D

Plan features

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.
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.
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

1 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.

Expense breakdown

Schedule H Part II

Admin total

$185K

$132 / participant

Investment mgmt$66K36.0%
Contract admin$6K3.2%
Other / not subdivided$112K60.8%

% of EOY assets

0.233%

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: ALMICH & ASSOCIATES
Auditor EIN: 330526284
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$93,151

$105,179-11.4%

$64,097+45.3%

$80,169+16.2%

Participation rate

40.2%

73.5%-33.3pp

72.3%-32.1pp

72.9%-32.7pp

Annual return

19.15%

20.34%-1.2pp

33.75%-14.6pp

40.39%-21.2pp

Employer contribution / active EE

$3,311-100.0%

$2,750-100.0%

$2,978-100.0%

Participant deferral / active EE

$2,846

$4,020-29.2%

$3,881-26.7%

$5,016-43.3%

Admin fee / account holder

$217

$113+91.7%

$3,070-92.9%

$145+49.8%

Provider

Service type

Compensation

CERITY PARTNERS6 years

Service code 17

11601 WILSHIRE BOULEVARD · LOS ANGELES, CA 90025

Pension Consulting

$66,430

JULY BUSINESS SERVICES1 year

Filed as: JULY BUSINESS SERVICES LLC

Service code 15 · EIN 74-2715820

P.O. BOX 2208 · WACO, TX 76703

Recordkeeping

$5,840

CHARLES SCHWAB & CO., INC.6 years

Filed as: CHARLES SCHWAB BANK

Service code 18 · EIN 42-1558009

Shareholder servicing fees; Custodial...

DIGITAL RETIREMENT SOLUTIONS, INC.9+ years

Service code 12 · EIN 84-1477138

Direct payment from the plan; Recordk...

ACADEMY OF ART UNIVERSITY 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ACADEMY OF ART UNIVERSITY 401(K) 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