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FORM 5500 DATA

University of New Haven Retirement and 403(b) Savings Plan

Overview

Plan Information

  • Plan Year07/01/2018 — 06/30/2019
  • Date of Plan01/01/1967
  • Net Assets as of 06/30/2019 $223,368,234
  • Plan Number2
  • Plan Type Single Employer
  • Is the plan collectively bargained?Yes
  • Did the plan file for an extension of time or the DFVC Program?Yes
  • Plan Funding ArrangementInsurance Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 06/30/2019

  • Active (Eligible) Participants933
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits811
  • Subtotal1,744
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits9
  • Total1,753
  • Total number of participants as of 07/01/20181,686
  • Number of participants with account balances1,666
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0

Expenses

  • Total Benefit Payments$0
  • Corrective Distributions$0
  • Administrative Service Providers$0
  • Other Expenses$0
  • Total Expenses$0
  • Total Transfers$0

Sponsor Information

  • Address300 Boston Post Road
  • CityWest Haven
  • StateCT
  • Zip06516
  • Telephone(203) 932-7265
  • EIN06-0761704
  • Industry Code611000
  • Named AdministratorAmelia Chopus
  • Named Plan SponsorPatrick Torre

Audit Information

  • Audit StatusAudited
  • AuditorCohnreznick LLP
  • Auditor EIN22-1478099
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
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.
2G Total participant-directed account plan Participants have the opportunity to direct the investment of all 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 A 403(b) plan, also known as a tax-sheltered annuity (TSA) plan, is a retirement plan for certain employees of public schools, employees of certain tax-exempt organizations, and certain ministers.
2M Code section 403(b)(7) accounts A 403(b)(7) plan is a tax-deferred retirement plan often available to employees of public schools or non-profit organizations.
2S Automatic Enrollment Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
2T Participant-directed Account Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.

Questions and Answers

Question Answer Amount
During the plan year did the employer fail to transmit to the plan any participant contributions within the time period described in 29 CFT 2510.3-102? No
Were any loans by the plan or fixed income obligations due the plan in default as of the close of plan year or classified during the year as uncollectible? Disregard participant loans secured by participant's account balance. No
Were any leases to which the plan was a party in default or classified during the year as uncollectible? No
Were there any nonexempt transactions with any party-in-interest? No
Was this plan covered by a fidelity bond? Yes $500,000
Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond, that was caused by fraud or dishonesty? No
Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan have assets held for investment? Yes
Were any plan transactions or series of transactions in excess of 5% of the current value of plan assets? No
Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? No
Has the plan failed to provide any benefit when due under the plan? No
If this is an individual account plan, was there a blackout period? No
If there was a blackout period, have you either provided the required notice or one of the exceptions to providing the notice applied under 29 CFR 2520.101-3? No

Financials

Income and Expense Statement

Income $27,003,109
Contributions $14,598,013
Cash Contributions $14,598,013
Cash from Employers $5,882,451
Cash from Participants $6,328,687
Others (including rollovers) $2,386,875
Noncash Contributions $0
Total Earnings on Investments $12,405,096
Total Interest $1,753,366
Interest-Bearing Cash $22,070
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $55,259
Interest from Other Investments $1,676,037
Total Dividends $8,362,878
Preferred Stock $0
Common Stock $0
Rents $0
Net gain (loss) on sale of assets $0
Aggregate Proceeds $0
Aggregate Carrying Amount $0
Total Unrealized Appreciation (depreciation) of assets $0
Real Estate $0
Other $0
Net investment gain (loss) from common/collective trusts $0
Net investment gain (loss) from pooled separate accounts $162,446
Net investment gain (loss) from master trust investment accounts $0
Net investment gain (loss) from 103-12 investment entities $0
Net investment gain (loss) from registered investment companies $2,126,406
Other Income $0
Expenses $11,005,544
Total Benefit Payments $10,945,365
Directly to participants or beneficiaries, including direct rollovers $10,882,493
To insurance carriers for the provision of benefits $62,872
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $39,616
Interest expense $0
Total Administrative Expenses $20,563
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $7,081
Other Administrative Fees $13,482
Net Income $15,997,565
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

06/30/2019 06/30/2018 Change YOY
Total Assets $223,368,234 $207,370,669 7.71%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $0 $0 0.0%
Employer Contributions $0 $0 0.0%
Participant Contributions $0 $0 0.0%
Other Contributions $0 $0 0.0%
General Investments $1,277,924 $539,502 136.87%
Interest-bearing cash $1,277,924 $539,502 136.87%
U.S. Government Securities $0 $0 0.0%
Corporate Debt Instruments $0 $0 0.0%
Preferred $0 $0 0.0%
All Other $0 $0 0.0%
Corporate Stocks $0 $0 0.0%
Preferred $0 $0 0.0%
Common $0 $0 0.0%
Partnership/joint venture interests $0 $0 0.0%
Real estate (other than employer real property) $0 $0 0.0%
Loans (other than to participants) $0 $0 0.0%
Participants Loans $1,127,982 $1,027,485 9.78%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $3,365,495 $3,169,454 6.19%
Value of interest in master trust investment accounts $0 $0 0.0%
Value of interest in 103-12 investment entities $0 $0 0.0%
Value of interest in registered investment companies $173,278,280 $156,510,182 10.71%
Value of funds held in insurance co. general account $44,318,553 $46,124,046 -3.91%
Other Investments $0 $0 0.0%
Employer-related Investments $0 $0 0.0%
Employer Securities $0 $0 0.0%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $0 $0 0.0%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $0 $0 0.0%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $223,368,234 $207,370,669 7.71%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Fid Inv Inst Ops Co
  • TIAA

Other Service Providers Receiving Direct or Indirect Compensation

Name Nature of Service Relationship to Plan Sponsor Direct Compensation Paid by Plan Indirect Compensation Paid by Plan Total Compensation
Strategic Advisors, Inc. Investment advisory (plan), Direct payment from the plan Advisor $13,482 $0 $13,482
Gallagher Benefits Services, Inc. Consulting (general), Direct payment from the plan Investment Advisor $9,375 $0 $9,375
Fid Invest Inst Ops Co Participant loan processing, Recordkeeping fees, Account maintenance fees, Direct payment from the plan Recordkeeper $-2,294 $0 $-2,294
Total $20,563 $0 $20,563

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Fid Invest Inst Ops Co Janus Enterprise Sub-transfer agency fees 0.10% $0
Fid Invest Inst Ops Co Af Europac Growth R5 Sub-transfer agency fees 0.05% $0
Fid Inv Inst Ops Co Glenmede Smcp Eq Is Sub-transfer agency fees 0.15% $0
Fid Inv Inst Ops Co Cohen & Steers Rlty-Bos Fin Data Sv Sub-transfer agency fees 0.40% $0
Fid Inv Inst Ops Co Nb Sustain Eq 1 Sub-transfer agency fees 0.10% $0
Fid Inv Inst Ops Co Amer Cap Wrld G & I R5-American Fnd Sub-transfer agency fees 0.05% $0
Fid Inv Inst Ops Co Principal Fixed Account Sub-transfer agency fees 0.25% $0
Fid Inv Inst Ops Co Jpm Midcap Value L-Bos Fin Data Sv Sub-transfer agency fees 0.15% $0
Fid Inv Inst Ops Co Col Dividend Inc I-Colum Invest Sv Sub-transfer agency fees 0.40% $0
Fid Inv Inst Ops Co Metwest Tot Rtn Bd 1 Sub-transfer agency fees 0.10% $0
Fid Inv Inst Ops Co Victory S Sm Co Op I Sub-transfer agency fees 0.10% $0
Fid Inv Inst Ops Co Trp Retire - Trp Svcs Sub-transfer agency fees 0.15% $0
*As outlined by the Form 5500 Instructions for service providers with indirect compensation.

Service Providers Who Fail or Refuse to Provide Information

There are no service providers who failed or refused to provide information.

Termination Information on Accountants and Enrolled Actuaries

There is no termination information for this plan.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Tiaa Real Estate Tiaa Cref DFE: Pooled Separate Account $3,365,495
Total $3,365,495

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Tiaa-Cref 787
EIN 13-1624203
Industry Code 69345
Contract Number 150661
Contract Year 07/01/2018 — 06/30/2019
Value in General Account at Year End $37,596,031
Value in Separate Accounts at Year End $37,707,340
Insurance Fees and Commissions $0
Persons Receiving Commissions and Fees There are no brokers listed for this plan.
Allocated Funds
Type of Contract Unspecified
Basis of premium rates
Premiums paid to carrier $0
Premiums due but unpaid at the end of the year $0
If the carrier, service, or other organization incurred any specific costs in connection with the acquisition or retention of the contract or policy, enter amount $0
Specify the nature of the costs
Unallocated Funds
Type of Contract Guaranteed Investment
Balance at the end of the previous year $39,102,599
Additions $7,159,461
Contributions Deposited during the year $51,568
Dividends and credits $0
Interest credited during the year $1,586,991
Transferred from separate account $5,520,902
Other $0
Total of Balance and Additions $46,262,060
Deductions $8,666,029
Disbursed from fund to pay benefits or purchase annuities during the year $2,674,548
Administration charge made by carrier $0
Transferred to Separate Account $5,756,621
Other $234,860
Balance at the end of the current year $37,596,031
Principal Life Insurance Company 106
EIN 42-0127290
Industry Code 61271
Contract Number 520832
Contract Year 07/01/2018 — 06/30/2019
Value in General Account at Year End $6,722,522
Value in Separate Accounts at Year End $3,365,495
Insurance Fees and Commissions $17,197
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Fidelity Investments Tax-Exempt Ser Ste Mcie Boston, MA 02109 Insurance Agent or Broker $0 $17,197 REFERRAL/SERVICE FEE
Allocated Funds
Type of Contract Unspecified
Basis of premium rates
Premiums paid to carrier $0
Premiums due but unpaid at the end of the year $0
If the carrier, service, or other organization incurred any specific costs in connection with the acquisition or retention of the contract or policy, enter amount $0
Specify the nature of the costs
Unallocated Funds
Type of Contract Guaranteed Investment
Balance at the end of the previous year $7,021,447
Additions $1,219,400
Contributions Deposited during the year $656,567
Dividends and credits $0
Interest credited during the year $87,690
Transferred from separate account $423,477
Other $51,666
Total of Balance and Additions $8,240,847
Deductions $1,518,325
Disbursed from fund to pay benefits or purchase annuities during the year $833,697
Administration charge made by carrier $1,551
Transferred to Separate Account $679,763
Other $3,314
Balance at the end of the current year $6,722,522