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 (2017) 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 2017

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

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$31M

+15.4% from 2016

Total participants

397

+11.8% from 2016

Average account balance

$78,930

+4.2% from 2016

Annual return

13.68%

+6.11 pp from 2016

Benchmarks

See 1,124 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,124 peers

Snapshot2017

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 8 by compensation

Provider	Service type	Compensation
INSURANCE PROGRAMMERS, INC.3+ years Service code 13 · EIN 06-0811449	Contract Administrator	$56,205
SHUMAKER, LOOP & KENDRICK, LLP3+ years Service code 29 · EIN 34-4439491	Legal	$40,461
ASCENSUS LLC3+ years Filed as: ASCENSUS Service code 19 · EIN 11-3665754	Securities Custodian	$19,797
UBS FINANCIAL SERVICES INC1 year Filed as: UBS FINANCIAL SERVICES, INC. Service code 27 · EIN 13-2638166	Advisory (Plan)	$17,033
BUCKLEY, FRAME, BOUDREAU & CO., P.C3+ years Service code 10 · EIN 06-0931761	Accounting	$13,686
MASSACHUSETTS MUTUAL LIFE INS. CO.1 year Service code 19 · EIN 04-1590850	Securities Custodian	$10,832
WELLS FARGO BANK, N.A.3+ years Filed as: WELLS FARGO Service code 26 · EIN 34-1542819	Advisory (Participants)	$5,816
ZENITH AMERICAN SOLUTIONS1 year Filed as: ZENITH AMERICAN SOLUTIONS, INC. Service code 13 · EIN 52-1590516	Contract Administrator	$5,109

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

$215K

$541 / participant

Investment mgmt$28K12.8%
Contract admin$61K28.5%
Other / not subdivided$126K58.6%

% of EOY assets

0.693%

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: NOVAK FRANCELLA LLC
Auditor EIN: 611436956
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$78,930

$60,545+30.4%

$92,240-14.4%

$69,631+13.4%

Participation rate

99.0%

72.2%+26.8pp

76.5%+22.5pp

70.7%+28.3pp

Annual return

13.68%

19.71%-6.0pp

176.29%-162.6pp

27571.02%-27557.3pp

Employer contribution / active EE

$5,477

$2,633+108.0%

$3,680+48.8%

$2,032+169.5%

Participant deferral / active EE

$2,828-100.0%

$3,897-100.0%

$3,224-100.0%

Admin fee / account holder

$547

$145+277.7%

$5,194-89.5%

$110+395.1%

Provider

Service type

Compensation

INSURANCE PROGRAMMERS, INC.3+ years

Service code 13 · EIN 06-0811449

Contract Administrator

$56,205

SHUMAKER, LOOP & KENDRICK, LLP3+ years

Service code 29 · EIN 34-4439491

Legal

$40,461

ASCENSUS LLC3+ years

Filed as: ASCENSUS

Service code 19 · EIN 11-3665754

Securities Custodian

$19,797

UBS FINANCIAL SERVICES INC1 year

Filed as: UBS FINANCIAL SERVICES, INC.

Service code 27 · EIN 13-2638166

Advisory (Plan)

$17,033

BUCKLEY, FRAME, BOUDREAU & CO., P.C3+ years

Service code 10 · EIN 06-0931761

Accounting

$13,686

MASSACHUSETTS MUTUAL LIFE INS. CO.1 year

Service code 19 · EIN 04-1590850

Securities Custodian

$10,832

WELLS FARGO BANK, N.A.3+ years

Filed as: WELLS FARGO

Service code 26 · EIN 34-1542819

Advisory (Participants)

$5,816

ZENITH AMERICAN SOLUTIONS1 year

Filed as: ZENITH AMERICAN SOLUTIONS, INC.

Service code 13 · EIN 52-1590516

Contract Administrator

$5,109

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