Plan Ledger DOL Form 5500 · updated monthly

Severn School, Inc.403(b)

SEVERN SCHOOL 403(B) RETIREMENT PLAN · SEVERNA PARK, MD · plan year 2024

Employer contribution per participant · 2024
$5,083

Severn School, Inc.'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 $56,610,820 across 452 participant accounts, with employer contributions averaging $5,083 per active participant. See methodology for what Form 5500 does and doesn't capture.

The plan sits in the $50M–$250M size bracket, benchmarked here against 10,352 comparable plans and shown alongside other educational services employers. By assets it is the 296th-largest of 1,671 plans among Maryland employers on file, and the 836th of 3,091 in educational services. In 2024, the employer put in $1.12 for every $1.00 employees contributed themselves; active participation has grown from 167 to 215 since 2022.

Plan summary
Net assets, end of year$56,610,820
Participants with balances452
Active participants215
Employer contributions$1,092,753
Employee contributions$974,116
Employer contribution per active participant$5,083
Average account balance$125,245
Benefits paid to participants$2,223,042
Plan auditDisclaimer of opinion
AuditorBENEFIT AUDIT GROUP, LLC
Plan history3
Yearassets · accounts · employer contribution
2024$56.6M · 452 accts · $1.1M emplr
2023$51.4M · 433 accts · $1.0M emplr
2022$46.8M · 431 accts · $950K emplr
Employer contributions to the Severn School, Inc. plan · 2024
Employer contribution per active participant$5,083
Median for plans this size$3,635
2024$5,083 per active participant
2023$5,972 per active participant
2022$5,686 per active participant

Severn School, Inc.'s 2024 employer contribution ran above the $3,635 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 history3
2024Not separately reported
2023Not separately reported
2022Not separately reported
Similar plansEducational Services · Maryland
Salisbury House, LLC MD$62.9M · 0.37%
Landon School Corporation MD$49.5M · 0.24%

Why are you looking at this plan?

Compare

Source: U.S. Department of Labor, Form 5500 series, EIN 520591466 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.