Massachusetts › Educational services › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
McPhs University Tax Deferred Annuity Plan
Sponsored by McPhs University, Boston, MA
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
McPhs University Tax Deferred Annuity Plan is a 403(b) plan sponsored by McPhs University of Boston, Massachusetts. For the plan year ending 31 Dec 2024 it reported 2,112 participants, 1,761 of them active, and net assets of $124M.
Net assets came to $58,827 per participant, above the $50,295 median for defined contribution plans with 1,000 to 4,999 participants and below the $73,018 median for defined contribution plans in educational services. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
Schedule C lists 3 service provider organisations paid $5,000 or more, with reported compensation of $9,749: $4.62 per participant, well below the same-size median of $82.08. Administrative expenses charged to the plan were $68K. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
Across the filings on record, net assets went from $14.7M in 2009 to $124M in 2024 (up 748%), and participants from 428 to 2,112 (up 393%).
The independent accountant's opinion on the financial statements was unmodified (unqualified), from an audit whose scope was limited under ERISA section 103(a)(3)(C) to exclude investment information certified by a bank or insurer.
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $58,827 | $50,295 | $73,018 | $53,102 |
| Employer contributions per active participant | — | $2,045 | $2,838 | $2,175 |
| Schedule C compensation per participant | $4.62 | $82.08 | $95.66 | $123 |
| Schedule C compensation, share of net assets | 0.01% | 0.17% | 0.13% | 0.26% |
| Administrative expenses per participant | $32.28 | $82.20 | $89.26 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 1,000 to 4,999 participants (10,207 plans), educational services (2,753) and all US plans (63,460). Fee medians cover plans that report an amount.
Trend by plan year
| Plan year | Participants | Net assets | Per participant | Employer contributions | Participant contributions | Schedule C compensation |
|---|---|---|---|---|---|---|
| 2024 | 2,112 | $124M | $58,827 | — | $9.0M | $10K |
| 2023 | 2,049 | $107M | $52,195 | — | $8.4M | $8,000 |
| 2022 | 1,992 | $90.2M | $45,287 | — | $7.8M | $5,000 |
| 2021 | 1,670 | $101M | $60,408 | $0 | $7.5M | $0 |
| 2020 | 1,566 | $87.1M | $55,596 | — | $6.8M | $0 |
| 2019 | 1,533 | $72.4M | $47,244 | — | $6.5M | $0 |
| 2018 | 1,528 | $59.9M | $39,215 | — | $6.0M | $0 |
| 2017 | 1,329 | $58.7M | $44,174 | — | $5.1M | $2,000 |
| 2016 | 1,224 | $46.7M | $38,117 | $0 | $4.3M | $2,000 |
| 2015 | 891 | $40.5M | $45,432 | $0 | $3.9M | $1,000 |
| 2014 | 1,513 | $36.9M | $24,400 | — | $3.2M | $1,000 |
| 2013 | 844 | $33.0M | $39,104 | — | $2.8M | $1,000 |
| 2012 | 739 | $26.1M | $35,315 | — | $2.5M | $0 |
| 2011 | 476 | $19.5M | $40,870 | $0 | $1.9M | $0 |
| 2010 | 442 | $18.1M | $40,862 | — | $1.6M | $0 |
| 2009 | 428 | $14.7M | $34,238 | — | $1.5M | $79K |
Years in which the plan filed the full Form 5500 with 100 or more participants, from 2009. Plan year is the year in which the plan year began.
Statement for the year
- Net assets, beginning of year$106,947,155
- Employer contributions—
- Participant contributions$8,959,343
- Rollovers and other contributions$1,257,252
- Total contributions$10,216,595
- Total income, including investment results$24,666,662
- Benefits paid$7,302,474
- Administrative expenses$68,165
- Total expenses$7,370,639
- Net income$17,296,023
- Net transfers$0
- Net assets, end of year$124,243,178
Participants
- Active participants1,761
- Retired or separated, receiving benefits0
- Retired or separated, entitled to future benefits351
- Participants with account balances1,255
- Total participants, end of year2,112
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Strategic Advisors, Inc. | Investment advisory (plan) | $9,749 | $0 |
| Wealth Management Systems Inc. | Other services | $0 | $0 |
| Fidelity Inv. Inst. Oper. Company | Participant loan processing | $0 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Administrative expenses on Schedule H
- Investment advisory and management fees$68,165
- Total administrative expenses$68,165
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Registered investment companies (mutual funds)$114M · 91.6%
- Insurance company general account$8.9M · 7.2%
- Participant loans$1.2M · 1.0%
- Pooled separate accounts$352K · 0.3%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmCBIZ CPAS P.C.
- Participant contributions reported as transmitted lateYes, $2,089
- Covered by a fidelity bondYes, $750,000
- Blackout period during the yearNo
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
2GTotal participant-directed account plan2LCode section 403(b)(1) arrangement (annuity contracts)
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 611000: Educational Services (including schools, colleges, & universities).
Other plans of McPhs University
| Plan | Participants | Net assets |
|---|---|---|
| McPhs University Pension Plan | 1,113 | $150M |
Similar plans in Massachusetts
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| College of the Holy Cross 403(b) Defined Contribution & Group Supplemental Retirement Plan | Trustees of the College of the Holy Cross | 2,152 | $448M | $208,165 |
| Clark University Retirement Plan | Clark University | 2,044 | $378M | $184,758 |
| Simmons University Retirement Plan | Simmons University | 2,182 | $270M | $123,531 |
| Endicott College DC Retirement Plan | Endicott College | 2,016 | $117M | $57,966 |
| Babson College Retirement Plan | Babson College | 2,636 | $526M | $199,393 |
| The WGBH Educational Foundation Retirement Plan | WGBH Educational Foundation | 1,984 | $361M | $182,082 |
Defined contribution plans in educational services closest in size.
Questions and answers
How big is McPhs University Tax Deferred Annuity Plan?
2,112 participants at the end of the plan year ending 31 Dec 2024, of whom 1,761 were active employees, with net assets of $124,243,178. Among defined contribution plans that places it in the 1,000 to 4,999 participants band, which held 10,207 plans in plan year 2024.
What does McPhs University contribute per participant?
This filing has no Schedule H financial statement, so employer contributions are not reported here.
What fees does the plan pay and how do they compare?
Schedule C reports $9,749 in compensation to service provider organisations, $4.62 per participant or 0.01% of net assets. The same-size median among plans reporting any Schedule C compensation was $82.08 per participant. Administrative expenses on Schedule H were $68,165. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is McPhs University. Recordkeeping or administration: Fidelity Inv. Inst. Oper. Company. Investment advisory or management: Strategic Advisors, Inc.. The financial statements were audited by CBIZ CPAS P.C.. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an unmodified (unqualified) opinion from a limited-scope audit, in which the accountant did not audit investment information certified by a bank or insurance company. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Jan 2024 to 31 Dec 2024, received by the Department of Labor on 14 Jul 2025. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 04-2104700, plan 003, received 14 Jul 2025; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.