Drake University403(b)
DRAKE UNIVERSITY MANDATORY TAX-DEFERRED ANNUITY RETIREMENT PLAN · DES MOINES, IA · plan year 2024
Peer grade: B · admin costs + employer contributions vs same-size plans · how grading works
Drake University reported $181,612 in plan administrative expenses for 2024: 0.06% of average plan assets, below the peer median. Employer contributions averaged $3,763 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.
Across the 2 years on file its reported administrative ratio rose from 0.04% to 0.06%. The plan sits in the $250M–$1B size bracket, benchmarked here against 2,883 comparable plans and shown alongside other educational services employers. By assets it is the 38th-largest of 878 plans among Iowa employers on file, and the 196th of 3,091 in educational services. In 2024, the employer put in $1.58 for every $1.00 employees contributed themselves.
Drake University's 2024 employer contribution ran below the $4,294 median for plans its size. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.
Annual cost at the plan's reported 2024 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.
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Source: U.S. Department of Labor, Form 5500 series, EIN 420680460 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.