Plan Ledger DOL Form 5500 · updated monthly

Madison-Ridgeland Academy403(b)

MADISON RIDGELAND ACADEMY 403(B) DC PLAN · MADISON, MS · plan year 2022

Employer contribution per participant · 2022
$1,592

Madison-Ridgeland Academy's 2022 Form 5500 did not separately report plan administrative expenses, which is common where recordkeeping is paid through investment revenue-sharing or a master trust. The plan held $11,196,619 across 246 participant accounts, with employer contributions averaging $1,592 per active participant. See methodology for what Form 5500 does and doesn't capture.

The plan sits in the $10M–$50M size bracket, benchmarked here against 26,806 comparable plans and shown alongside other educational services employers. By assets it is the 159th-largest of 367 plans among Mississippi employers on file, and 2,016th of 3,091 in educational services. In 2022, employees put in $1.49 for every $1.00 the employer contributed.

Plan summary
Net assets, end of year$11,196,619
Participants with balances246
Active participants207
Employer contributions$329,571
Employee contributions$490,251
Employer contribution per active participant$1,592
Average account balance$45,515
Benefits paid to participants$668,373
Plan auditUnmodified (clean) audit opinion
AuditorCOLLINS, BARR & HEMBREE, LTD.
Plan history2
Yearassets · accounts · employer contribution
2023$0 · $224K emplr
2022$11.2M · 246 accts · $330K emplr
Employer contributions to the Madison-Ridgeland Academy plan · 2022
Employer contribution per active participant$1,592
Median for plans this size$2,266

Madison-Ridgeland Academy's 2022 employer contribution ran below the $2,266 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.

Administrative cost history2
2023Not separately reported
2022Not separately reported
Similar plansEducational Services · Mississippi
Jackson Academy, Inc. MS$17.7M · 0.02%
Tougaloo College MS$13.5M · 0.10%
Minact, Inc. MS$11.9M · 0.30%
Schoolstatus Inc MS$10.5M · 0.04%
French Camp Academy MS$6.1M · 1.35%

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Source: U.S. Department of Labor, Form 5500 series, EIN 640478043 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.