Retirement plan

MONEY PURCHASE RETIREMENT PLAN OF U.A. LOCAL 716

Name: BOARD OF TRUSTEES OF THE MONEY PURCHASE RETIREMENT PLAN U.A. LOCAL 716 - MONEY PURCHASE RETIREMENT PLAN OF U.A. LOCAL 716 (2015) Form 5500
Creator: BOARD OF TRUSTEES OF THE MONEY PURCHASE RETIREMENT PLAN U.A. LOCAL 716
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 716

BOARD OF TRUSTEES OF THE MONEY PURCHASE RETIREMENT PLAN U.A. LOCAL 716EIN 01-0219039Plan #002PY 2015

P.O. BOX 5817 - WALLINGFORD, CT 06492203-949-3253

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$26.1M

No prior year

Total participants

375

No prior year

Average account balance

$69,708

No prior year

Annual return

-1.36%

No prior year

Benchmarks

See 885 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort885 peers

Snapshot2015

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 6 by compensation

Provider	Service type	Compensation
INSURANCE PROGRAMMERS, INC.1+ years Service code 13 · EIN 06-0811449	Contract Administrator	$61,314
WELLS FARGO BANK, N.A.1+ years Filed as: WELLS FARGO Service code 26 · EIN 34-1542819	Advisory (Participants)	$22,569
ASCENSUS LLC1+ years Filed as: ASCENSUS Service code 19 · EIN 11-3665754	Securities Custodian	$22,440
PENSION FUND EVALUATIONS, INC.1+ years Service code 27 · EIN 11-2503982	Advisory (Plan)	$16,500
BUCKLEY, FRAME, BOUDREAU & CO., P.C1+ years Service code 10 · EIN 06-0931761	Accounting	$15,301
SHUMAKER, LOOP & KENDRICK, LLP1+ years Service code 29 · EIN 34-4439491	Legal	$6,747

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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$185K

$508 / participant

Investment mgmt$39K21.1%
Contract admin$61K33.1%
Other / not subdivided$85K45.9%

% of EOY assets

0.710%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BUCKLEY, FRAME, BOUDREAU & CO. P.C.
Auditor EIN: 060931761
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$69,708

$50,498+38.0%

$75,784-8.0%

$55,191+26.3%

Participation rate

100.0%

69.4%+30.6pp

75.8%+24.2pp

69.2%+30.8pp

Annual return

-1.36%

1.80%-3.2pp

9.68%-11.0pp

10.78%-12.1pp

Employer contribution / active EE

$4,716

$2,291+105.9%

$3,323+41.9%

$1,899+148.4%

Participant deferral / active EE

$2,589-100.0%

$3,652-100.0%

$3,046-100.0%

Admin fee / account holder

$495

$123+302.0%

$5,300-90.7%

$91+444.8%

Provider

Service type

Compensation

INSURANCE PROGRAMMERS, INC.1+ years

Service code 13 · EIN 06-0811449

Contract Administrator

$61,314

WELLS FARGO BANK, N.A.1+ years

Filed as: WELLS FARGO

Service code 26 · EIN 34-1542819

Advisory (Participants)

$22,569

ASCENSUS LLC1+ years

Filed as: ASCENSUS

Service code 19 · EIN 11-3665754

Securities Custodian

$22,440

PENSION FUND EVALUATIONS, INC.1+ years

Service code 27 · EIN 11-2503982

Advisory (Plan)

$16,500

BUCKLEY, FRAME, BOUDREAU & CO., P.C1+ years

Service code 10 · EIN 06-0931761

Accounting

$15,301

SHUMAKER, LOOP & KENDRICK, LLP1+ years

Service code 29 · EIN 34-4439491

Legal

$6,747

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