California › Educational services › 500 to 999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Samuel Merritt University 403(b) Plan
Sponsored by Samuel Merritt University, Oakland, CA
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.
Samuel Merritt University of Oakland, California sponsors Samuel Merritt University 403(b) Plan, a 401(k) plan. Its Form 5500 for the plan year ending 31 Dec 2024 shows 925 participants (755 active) and $101M in net assets.
Net assets came to $109,406 per participant, well above the $46,267 median for defined contribution plans with 500 to 999 participants and well above 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.
The employer contributed $2.6M during the year, or $3,456 per active participant against a same-size median of $1,934; participants contributed $4.1M and $653K arrived as rollovers and other contributions. Benefits paid out totalled $10.0M.
The filing reports no service provider compensation on Schedule C. That is common where fees are paid by the employer or taken from investment returns, neither of which appears there. Administrative expenses charged to the plan were $175.
Across the filings on record, net assets went from $13.2M in 2009 to $101M in 2024 (up 664%), and participants from 785 to 925 (up 18%).
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 | $109,406 | $46,267 | $73,018 | $53,102 |
| Employer contributions per active participant | $3,456 | $1,934 | $2,838 | $2,175 |
| Schedule C compensation per participant | — | $113 | $95.66 | $123 |
| Schedule C compensation, share of net assets | — | 0.25% | 0.13% | 0.26% |
| Administrative expenses per participant | $0.19 | $109 | $89.26 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 500 to 999 participants (10,588 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 | 925 | $101M | $109,406 | $2.6M | $4.1M | $0 |
| 2023 | 848 | $90.1M | $106,232 | $2.5M | $4.0M | $0 |
| 2022 | 798 | $75.1M | $94,123 | $2.4M | $3.8M | $0 |
| 2021 | 828 | $90.3M | $109,016 | $2.5M | $3.7M | $0 |
| 2020 | 1,133 | $77.6M | $68,455 | $2.4M | $3.3M | $72K |
| 2019 | 928 | $67.2M | $72,417 | $2.2M | $3.2M | $21K |
| 2018 | 783 | $53.1M | $67,810 | $2.1M | $2.9M | $26K |
| 2017 | 796 | $52.8M | $66,285 | $2.0M | $2.8M | $22K |
| 2016 | 1,008 | $44.0M | $43,679 | $1.9M | $2.7M | $21K |
| 2015 | 781 | $39.1M | $50,017 | $1.8M | $2.6M | $25K |
| 2014 | 801 | $37.0M | $46,243 | $1.8M | $2.3M | $23K |
| 2013 | 749 | $32.3M | $43,115 | $1.6M | $2.1M | $19K |
| 2012 | 704 | $24.4M | $34,618 | $1.5M | $1.9M | $20K |
| 2011 | 689 | $19.5M | $28,369 | $1.4M | $1.7M | $19K |
| 2010 | 641 | $17.4M | $27,165 | $1.2M | $1.5M | $9,000 |
| 2009 | 785 | $13.2M | $16,866 | $1.2M | $1.4M | $29K |
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$90,084,916
- Employer contributions$2,609,375
- Participant contributions$4,050,594
- Rollovers and other contributions$653,206
- Total contributions$7,313,175
- Total income, including investment results$21,136,266
- Benefits paid$9,996,745
- Administrative expenses$175
- Total expenses$10,020,241
- Net income$11,116,025
- Net transfers$0
- Net assets, end of year$101,200,941
Participants
- Active participants755
- Retired or separated, receiving benefits4
- Retired or separated, entitled to future benefits166
- Participants with account balances925
- Total participants, end of year925
Fees and service providers
No service provider organisations are listed on Schedule C for this plan year.
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
- Contract administrator fees$175
- Total administrative expenses$175
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)$88.2M · 87.1%
- Insurance company general account$8.7M · 8.6%
- Cash (interest and non-interest bearing)$3.6M · 3.6%
- Participant loans$725K · 0.7%
- Receivables$23K · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmHood & Strong, LLP
- Participant contributions reported as transmitted lateYes, $22,877
- Covered by a fidelity bondYes, $5,000,000
- Blackout period during the yearYes
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 plan2MCode section 403(b)(7) accounts (custodial accounts for regulated investment company stock)2JCode section 401(k) feature2TTotal or partial participant-directed account plan with a default investment account2FERISA section 404(c) plan3HPlan sponsor(s) is (are) a member(s) of a controlled group3DPre-approved pension plan2KCode section 401(m) arrangement2S401(k) plan or 403(b) plan that provides for automatic enrollment
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 611000: Educational Services (including schools, colleges, & universities).
Similar plans in California
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Whittier College 403(b) Plan | Whittier College | 941 | $145M | $154,256 |
| Pitzer College Academic Retirement Plan | Pitzer College | 911 | $152M | $166,304 |
| Otis College of Art and Design 403(b) Retirement Plan | Otis College of Art and Design | 980 | $53.8M | $54,941 |
| Harvey Mudd College Academic Retirement Plan | Harvey Mudd College | 900 | $205M | $227,452 |
| Scripps College Academic Retirement Plan | Scripps College | 1,029 | $139M | $135,199 |
| The Harker School 401(a) Defined Contribution Plan | The Harker School | 885 | $73.3M | $82,815 |
Defined contribution plans in educational services closest in size.
Questions and answers
How big is Samuel Merritt University 403(b) Plan?
925 participants at the end of the plan year ending 31 Dec 2024, of whom 755 were active employees, with net assets of $101,200,941. Among defined contribution plans that places it in the 500 to 999 participants band, which held 10,588 plans in plan year 2024.
What does Samuel Merritt University contribute per participant?
The filing reports $2,609,375 in employer contributions for the year, which is $3,456 per active participant; the median for plans of the same type and size was $1,934 in plan year 2024. Form 5500 reports the total only. It does not state the match formula, and the per-participant figure is an average, not any one person's contribution.
What fees does the plan pay and how do they compare?
Schedule C reports no provider compensation for the year. Administrative expenses on Schedule H were $175. 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 Samuel Merritt University. The financial statements were audited by Hood & Strong, LLP. 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 9 Oct 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 94-2992642, plan 001, received 9 Oct 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.