Retirement plan

THE UNIVERSITY OF PHOENIX, INC. SAVINGS AND INVESTMENT PLAN

Name: THE UNIVERSITY OF PHOENIX, INC. - THE UNIVERSITY OF PHOENIX, INC. SAVINGS AND INVESTMENT PLAN (2021) Form 5500
Creator: THE UNIVERSITY OF PHOENIX, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE UNIVERSITY OF PHOENIX, INC. SAVINGS AND INVESTMENT PLAN, THE UNIVERSITY OF PHOENIX, INC.

THE UNIVERSITY OF PHOENIX, INC.EIN 94-2473210Plan #001PY 2021

4035 S RIVERPOINT PARKWAY - PHOENIX, AZ 85040844-694-0151phoenix.eduLinkedIn5001-10000 employeeshigher education

Prospect flagsLow participationLow employer contributionCorrective distributions

Top hat statement on fileNQDC

Filed January 4, 2021

Plan administrator

Plan administrator name— Sign in and upgrade to view

4025 S Riverpoint Pkwy

Phoenix, AZ 85040

Email— Sign in and upgrade to view Phone— Sign in and upgrade to view

Plans declared (1)

The University of Phoenix, Inc. Deferred Compensation Plan186 emp

Open the filing PDF

How to read this page

Total assets (EOY)

$595.4M

+24.2% from 2022

Total participants

10,822

+8.1% from 2022

Average account balance

$71,044

+18.3% from 2022

Annual return

13.63%

+29.42 pp from 2022

Benchmarks

See 40 peers

Peer group

Industry61 - Educational Services

Plan typeDefined contribution

Participants5,000-9,999

Cohort40 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$586.04M

Not enough data

1 years with asset history on file

Average account balance

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

$75K

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.

7,822

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.

71.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$32.04M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+12.58%

Not enough data

1 years with return on file

Admin fee / account holder

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

$59

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 3 by compensation

Provider	Service type	Compensation
PRUDENTIAL RETIREMENT INSURANCE AND1+ years Service code 13 · EIN 06-1050034	Contract Administrator	$372,627
ALLIANCE PENSION CONSULTANTS, LLC1+ years Filed as: ALLIANT INSURANCE SERVICES INC Service code 16 · EIN 33-0785439	Consulting	$90,001
MAYER HOFFMAN MCCANN P.C.1+ years Service code 10 · EIN 43-1947695	Accounting	$23,000

Plan features & details

Pension benefit codes2E2F2G2J2K2T3H3J2S3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
3J
U.S.-based Puerto Rico dual-qualified plan
U.S.-based plan that covers residents of Puerto Rico and is qualified under both Code section 401 and section 1165 of the Internal Revenue Code of Puerto Rico.

Opportunity flags

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$690K

$106 / participant

Other / not subdivided$690K100.0%

% of EOY assets

0.116%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MAYER HOFFMAN MCCANN P.C.
Auditor EIN: 431947695
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$71,044

$127,246-44.2%

$75,728-6.2%

$101,555-30.0%

Participation rate

62.6%

76.6%-13.9pp

74.8%-12.2pp

74.5%-11.9pp

Annual return

13.63%

14.35%-0.7pp

104.66%-91.0pp

21.00%-7.4pp

Employer contribution / active EE

$794

$4,333-81.7%

$2,743-71.0%

$2,972-73.3%

Participant deferral / active EE

$3,287

$4,639-29.1%

$3,820-14.0%

$4,874-32.6%

Admin fee / account holder

$82

$42+98.2%

$3,620-97.7%

$139-41.0%

Provider

Service type

Compensation

PRUDENTIAL RETIREMENT INSURANCE AND1+ years

Service code 13 · EIN 06-1050034

Contract Administrator

$372,627

ALLIANCE PENSION CONSULTANTS, LLC1+ years

Filed as: ALLIANT INSURANCE SERVICES INC

Service code 16 · EIN 33-0785439

Consulting

$90,001

MAYER HOFFMAN MCCANN P.C.1+ years

Service code 10 · EIN 43-1947695

Accounting

$23,000

THE UNIVERSITY OF PHOENIX, INC. SAVINGS AND INVESTMENT PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE UNIVERSITY OF PHOENIX, INC. SAVINGS AND INVESTMENT PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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