Retirement plan

MONEY PURCHASE RETIREMENT PLAN OF U.A. LOCAL 716

Name: BOARD OF TRUSTEES OF THE MONEY PURCHASE RETIREMENT PLAN U.A. LOCAL - MONEY PURCHASE RETIREMENT PLAN OF U.A. LOCAL 716 (2024) Form 5500
Creator: BOARD OF TRUSTEES OF THE MONEY PURCHASE RETIREMENT PLAN U.A. LOCAL
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MONEY PURCHASE RETIREMENT PLAN OF U.A. LOCAL 716, BOARD OF TRUSTEES OF THE MONEY PURCHASE RETIREMENT PLAN U.A. LOCAL

BOARD OF TRUSTEES OF THE MONEY PURCHASE RETIREMENT PLAN U.A. LOCALdba PLAN U.A. LOCAL 716EIN 01-0219039Plan #002PY 2024

P.O. BOX 5817 - WALLINGFORD, CT 064927617203-949-3253

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$36.9M

+2.3% from 2023

Total participants

373

-2.9% from 2023

Average account balance

$98,928

-6.7% from 2023

Annual return

11.31%

-4.09 pp from 2023

Benchmarks

See 1,561 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,561 peers

Snapshot2024

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$36.90M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$99K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

373

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.76M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+11.31%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$517

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 5 by compensation

Provider	Service type	Compensation
ZENITH AMERICAN SOLUTIONS7 years Filed as: ZENITH AMERICAN SOLUTIONS INC Service code 13 · EIN 52-1590516	Contract Administrator	$68,964
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE CO. OF AM Service code 10 · EIN 84-0467907	Accounting	$43,388
ROBERT CHEVERIE4 years Filed as: ROBERT M. CHEVERIE & ASSOCIATE Service code 29 · EIN 06-1335139	Legal	$24,000
MORGAN STANLEY SMITH BARNEY4 years Filed as: MORGAN STANLEY Service code 28 · EIN 20-8764829	Investment Management	$20,000
NOVAK FRANCELLA LLC7 years Service code 10 · EIN 61-1436956	Accounting	$15,702

Plan features & details

Pension benefit codes2C2F2G2T

Plan features

2C
Money purchase plan
Money purchase pension plan other than a target benefit plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$193K

$579 / participant

Recordkeeping$45K23.2%
Investment mgmt$20K10.4%
Legal$24K12.4%
Contract admin$69K35.7%
Other / not subdivided$35K18.3%

% of EOY assets

0.523%

all-in expense ratio

Categories reported

4 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: NOVAK FRANCELLA, LLC
Auditor EIN: 611436956
Audit fees: $14,400
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$98,928

$83,023+19.2%

$102,437-3.4%

$77,762+27.2%

Participation rate

100.0%

71.5%+28.5pp

74.5%+25.5pp

70.6%+29.4pp

Annual return

11.31%

19.12%-7.8pp

24.95%-13.6pp

31.27%-20.0pp

Employer contribution / active EE

$5,276

$3,552+48.5%

$3,871+36.3%

$2,728+93.4%

Participant deferral / active EE

$4,110-100.0%

$5,060-100.0%

$4,651-100.0%

Admin fee / account holder

$517

$639-19.1%

$8,388-93.8%

$433+19.5%

Provider

Service type

Compensation

ZENITH AMERICAN SOLUTIONS7 years

Filed as: ZENITH AMERICAN SOLUTIONS INC

Service code 13 · EIN 52-1590516

Contract Administrator

$68,964

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE CO. OF AM

Service code 10 · EIN 84-0467907

Accounting

$43,388

ROBERT CHEVERIE4 years

Filed as: ROBERT M. CHEVERIE & ASSOCIATE

Service code 29 · EIN 06-1335139

Legal

$24,000

MORGAN STANLEY SMITH BARNEY4 years

Filed as: MORGAN STANLEY

Service code 28 · EIN 20-8764829

Investment Management

$20,000

NOVAK FRANCELLA LLC7 years

Service code 10 · EIN 61-1436956

Accounting

$15,702

MONEY PURCHASE RETIREMENT PLAN OF U.A. LOCAL 716

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MONEY PURCHASE RETIREMENT PLAN OF U.A. LOCAL 716

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion