Retirement plan

PROFIT SHARING & 401(K) RETIREMENT PLAN LOCAL 567

Name: BOARD DIRECTORS OF PROFIT SHARING & 401(K) RETIREMENT PLAN LOCAL 567 - PROFIT SHARING & 401(K) RETIREMENT PLAN LOCAL 567 (2019) Form 5500
Creator: BOARD DIRECTORS OF PROFIT SHARING & 401(K) RETIREMENT PLAN LOCAL 567
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PROFIT SHARING & 401(K) RETIREMENT PLAN LOCAL 567, BOARD DIRECTORS OF PROFIT SHARING & 401(K) RETIREMENT PLAN LOCAL 567

BOARD DIRECTORS OF PROFIT SHARING & 401(K) RETIREMENT PLAN LOCAL 567EIN 01-0439781Plan #002PY 2019

238 GODDARD ROAD - LEWISTON, ME 042401000207-786-9770

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$50.6M

+0.8% from 2018

Total participants

343

+0.3% from 2018

Average account balance

$147,485

+0.5% from 2018

Annual return

6.62%

-8.14 pp from 2018

Benchmarks

See 873 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants250-999

Cohort873 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$72.51M

Not enough data

1 years with asset history on file

Average account balance

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

$135K

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.

538

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

$3.51M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+7.26%

Not enough data

1 years with return on file

Admin fee / account holder

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

$518

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 10 of 13 by compensation

Provider	Service type	Compensation
KIMBERELY KEENAN4+ years Filed as: KIM KEENAN Service code 13 · EIN 01-0439781	Contract Administrator	$82,808
PROFIT PLANNERS LLC4+ years Filed as: PROFIT SHARING & 401(K) PLAN Service code 14 · EIN 01-0439781	Plan Administrator	$46,992
FILLER & ASSOCIATES P.A.4+ years Service code 10 · EIN 01-0378528	Accounting	$38,528
PENSION FUND EVALUATIONS, INC.4+ years Service code 20 · EIN 11-2503982	Trustee (individual)	$24,400
I.B.E.W LOCAL 567 BUILDING CORP.4+ years Service code 99 · EIN 01-0443300	Other Fees	$16,316
MASSACHUSETTS MUTUAL LIFE INS. CO.4+ years Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 52 · EIN 04-1590850	Indirect Investment Fees	$1,000
COLUMBIA2 years Service code 52 · EIN 93-0577450	Indirect Investment Fees	$0
FIDELITY INVESTMENTS INSTITUTIONAL2 years Filed as: FIDELITY INVESTMENTS Service code 52 · EIN 04-6056833	Indirect Investment Fees	$0
OPPENHEIMER2 years Service code 52 · EIN 93-6305075	Indirect Investment Fees	$0
T ROWE PRICE RPS INC2 years Filed as: T ROWE PRICE Service code 52 · EIN 52-0791372	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2C2E2F2G2J2T

Plan features

2C
Money purchase plan
Money purchase pension plan other than a target benefit plan.
2E
Profit-sharing
Profit-sharing 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.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
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

$229K

$895 / participant

Investment mgmt$24K10.7%
Other / not subdivided$205K89.3%

% of EOY assets

0.453%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: FILLER & ASSOCIATES P.A.
Auditor EIN: 010378528
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$147,485

$54,237+171.9%

$90,324+63.3%

$67,582+118.2%

Participation rate

100.0%

68.6%+31.4pp

73.3%+26.7pp

71.3%+28.7pp

Annual return

6.62%

37.27%-30.6pp

78.15%-71.5pp

378.57%-371.9pp

Employer contribution / active EE

$3,610

$1,846+95.6%

$2,856+26.4%

$2,148+68.1%

Participant deferral / active EE

$2,625-100.0%

$3,885-100.0%

$3,539-100.0%

Admin fee / account holder

$668

$123+441.2%

$5,356-87.5%

$142+369.3%

Provider

Service type

Compensation

KIMBERELY KEENAN4+ years

Filed as: KIM KEENAN

Service code 13 · EIN 01-0439781

Contract Administrator

$82,808

PROFIT PLANNERS LLC4+ years

Filed as: PROFIT SHARING & 401(K) PLAN

Service code 14 · EIN 01-0439781

Plan Administrator

$46,992

FILLER & ASSOCIATES P.A.4+ years

Service code 10 · EIN 01-0378528

Accounting

$38,528

PENSION FUND EVALUATIONS, INC.4+ years

Service code 20 · EIN 11-2503982

Trustee (individual)

$24,400

I.B.E.W LOCAL 567 BUILDING CORP.4+ years

Service code 99 · EIN 01-0443300

Other Fees

$16,316

MASSACHUSETTS MUTUAL LIFE INS. CO.4+ years

Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$1,000

COLUMBIA2 years

Service code 52 · EIN 93-0577450

Indirect Investment Fees

FIDELITY INVESTMENTS INSTITUTIONAL2 years

Filed as: FIDELITY INVESTMENTS

Service code 52 · EIN 04-6056833

Indirect Investment Fees

OPPENHEIMER2 years

Service code 52 · EIN 93-6305075

Indirect Investment Fees

T ROWE PRICE RPS INC2 years

Filed as: T ROWE PRICE

Service code 52 · EIN 52-0791372

Indirect Investment Fees

PROFIT SHARING & 401(K) RETIREMENT PLAN LOCAL 567

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PROFIT SHARING & 401(K) RETIREMENT PLAN LOCAL 567

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