How much does Paine College contribute to its 403(b)?

In 2023, employer contributions to the Paine College plan averaged $0 per active participant, below the $1,308 median for plans of similar size. Public filings report contribution dollars, not the match formula; the formula is in the plan's summary plan description.

What is the average account balance in the Paine College 401(k)?

The average participant account balance was $47,690 for plan year 2023, based on 47 accounts.

Paine College403(b)

Name: Paine College 401(k) plan: Form 5500 data
Creator: U.S. Department of Labor

PAINE COLLEGE 403(B) DEFINED CONTRIBUTION PLAN · AUGUSTA, GA · plan year 2023

Employer contribution per participant · 2023

Paine College's 2023 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 $2,241,448 across 47 participant accounts, with employer contributions averaging $0 per active participant. See methodology for what Form 5500 does and doesn't capture.

The plan sits in the $1M–$10M size bracket, benchmarked here against 22,307 comparable plans and shown alongside other educational services employers. By assets it is among the smaller plans on file in Georgia (1,912th of 2,160), and 2,827th of 3,091 in educational services.

Plan summary
Net assets, end of year$2,241,448
Participants with balances47
Active participants6
Employer contributions$0
Employee contributions$5,860
Employer contribution per active participant$0
Average account balance$47,690
Benefits paid to participants$144,128
Plan auditUnmodified (clean) audit opinion
AuditorTHE WESLEY PEACHTREE GROUP, CPAS

Plan history2

Yearassets · accounts · employer contribution

2023$2.2M · 47 accts

2022$2.1M · 49 accts

Employer contributions to the Paine College plan · 2023

Employer contribution per active participant$0

Median for plans this size$1,308

Paine College's 2023 employer contribution ran below the $1,308 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 history2

2023Not separately reported

2022Not separately reported

Similar plansEducational Services · Georgia
The Heritage School, Inc. GA$4.9M · 0.30%
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Strong Rock Christian School, Inc. GA$2.2M · 0.03%
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Communities in Schools of Atlanta Inc. GA$1.0M · 0.31%

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Source: U.S. Department of Labor, Form 5500 series, EIN 237434499 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.