Plan Ledger DOL Form 5500 · updated monthly

Morris College403(b)

MORRIS COLLEGE 403(B) DEFINED CONTRIBUTION PLAN · SUMTER, SC · plan year 2024

Employer contribution per participant · 2024
$991

Morris College's 2024 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 $18,863,800 across 240 participant accounts, with employer contributions averaging $991 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 27,838 comparable plans and shown alongside other educational services employers. By assets it is the 282nd-largest of 807 plans among South Carolina employers on file, and 1,626th of 3,091 in educational services. In 2024, employees put in $1.30 for every $1.00 the employer contributed.

Plan summary
Net assets, end of year$18,863,800
Participants with balances240
Active participants193
Employer contributions$191,342
Employee contributions$248,450
Employer contribution per active participant$991
Average account balance$78,599
Benefits paid to participants$1,803,590
Plan auditUnmodified (clean) audit opinion
Plan history3
Yearassets · accounts · employer contribution
2024$18.9M · 240 accts · $191K emplr
2023$18.6M · 244 accts · $182K emplr
2022$17.7M · 252 accts · $197K emplr
Employer contributions to the Morris College plan · 2024
Employer contribution per active participant$991
Median for plans this size$2,416
2024$991 per active participant
2023$938 per active participant
2022$989 per active participant

Morris College's 2024 employer contribution ran below the $2,416 median for plans its size, in the bottom quarter of its peers. 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 history3
2024Not separately reported
2023Not separately reported
2022Not separately reported
All plans at this employer2
MORRIS COLLEGE 403(B) DEFINED CONTRIBUTION PLAN403(b)
MORRIS COLLEGE 403(B) TAX DEFERRED ANNUITY PLAN403(b)
Similar plansEducational Services · South Carolina
Newberry College SC$22.2M · 0.10%
Ashley Hall School SC$21.7M · 0.04%
Spartanburg Day School SC$19.7M · 0.13%
Hammond School SC$15.8M · 0.00%
Southside Christian School SC$12.8M · 0.21%

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Source: U.S. Department of Labor, Form 5500 series, EIN 576000734 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.