Retirement plan

PLUMBERS & PIPEFITTERS LOCAL NO. 104 ANNUITY FUND

Name: PLUMBERS & PIPEFITTERS LOCAL 104 - PLUMBERS & PIPEFITTERS LOCAL NO. 104 ANNUITY FUND (2019) Form 5500
Creator: PLUMBERS & PIPEFITTERS LOCAL 104
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PLUMBERS & PIPEFITTERS LOCAL NO. 104 ANNUITY FUND, PLUMBERS & PIPEFITTERS LOCAL 104

PLUMBERS & PIPEFITTERS LOCAL 104EIN 04-2564795Plan #003PY 2019

168 CHICOPEE ST - CHICOPEE, MA 010131778413-592-3397ualocal104.orgLinkedIn201-500 employeesfinancial services

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$66.3M

+5.2% from 2018

Total participants

407

+5.4% from 2018

Average account balance

$173,093

-0.3% from 2018

Annual return

4.58%

-1.82 pp from 2018

Benchmarks

See 1,467 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,467 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$86.82M

Not enough data

1 years with asset history on file

Average account balance

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

$214K

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.

405

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.

84.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.31M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+8.54%

Not enough data

1 years with return on file

Admin fee / account holder

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

$360

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 11 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.1 year Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 52 · EIN 04-1590850	Indirect Investment Fees	$62,410
CARLEY GUILBERT4+ years Service code 12 168 CHICOPEE STREET · CHICOPEE, MA 01014	Claims processing	$24,230
NICHOLAS LAPIER CPA PC4+ years Service code 10 71 PARK AVENUE · WEST SPRINGFIELD, MA 01089	Accounting	$11,395
COMMONWEALTH FINANCIAL NETWORK2 years Service code 26 · EIN 04-2675571	Advisory (Participants)	$5,000
KRAKOW & SOURIS2 years Filed as: KRAKOW SOURIS & LANDRY LLC Service code 22 225 FRIEND STREET · BOSTON, MA 02114	Insurance Broker	$5,000
BMO HARRIS BANK NA2 years Filed as: BMO GLOBAL ASSET MANAGEMENT Service code 52 · EIN 25-1689258	Indirect Investment Fees	$0
MORGAN STANLEY SMITH BARNEY2 years Filed as: JP MORGAN Service code 52 · EIN 26-3613641	Indirect Investment Fees	$0
MANNING & NAPIER1 year Service code 52 · EIN 02-0476209	Indirect Investment Fees	$0
MFS INVESTMENT MANAGEMENT2 years Service code 52 · EIN 04-3158862	Indirect Investment Fees	$0
OPPENHEIMER2 years Service code 52 · EIN 22-3849391	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2F2G2K2T

Plan features

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

$126K

$405 / participant

Investment mgmt$62K49.4%
Other / not subdivided$64K50.6%

% of EOY assets

0.191%

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: NICHOLAS LAPIER CPA PC
Auditor EIN: 320048525
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$173,093

$88,515+95.6%

$162,185+6.7%

$67,582+156.1%

Participation rate

92.3%

86.8%+5.5pp

87.6%+4.8pp

71.3%+21.0pp

Annual return

4.58%

27.04%-22.5pp

115.61%-111.0pp

378.57%-374.0pp

Employer contribution / active EE

$8,228

$3,563+130.9%

$5,613+46.6%

$2,148+283.1%

Participant deferral / active EE

$5,724-100.0%

$7,297-100.0%

$3,539-100.0%

Admin fee / account holder

$330

$124+166.7%

$10,844-97.0%

$142+131.8%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.1 year

Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$62,410

CARLEY GUILBERT4+ years

Service code 12

168 CHICOPEE STREET · CHICOPEE, MA 01014

Claims processing

$24,230

NICHOLAS LAPIER CPA PC4+ years

Service code 10

71 PARK AVENUE · WEST SPRINGFIELD, MA 01089

Accounting

$11,395

COMMONWEALTH FINANCIAL NETWORK2 years

Service code 26 · EIN 04-2675571

Advisory (Participants)

$5,000

KRAKOW & SOURIS2 years

Filed as: KRAKOW SOURIS & LANDRY LLC

Service code 22

225 FRIEND STREET · BOSTON, MA 02114

Insurance Broker

$5,000

BMO HARRIS BANK NA2 years

Filed as: BMO GLOBAL ASSET MANAGEMENT

Service code 52 · EIN 25-1689258

Indirect Investment Fees

MORGAN STANLEY SMITH BARNEY2 years

Filed as: JP MORGAN

Service code 52 · EIN 26-3613641

Indirect Investment Fees

MANNING & NAPIER1 year

Service code 52 · EIN 02-0476209

Indirect Investment Fees

MFS INVESTMENT MANAGEMENT2 years

Service code 52 · EIN 04-3158862

Indirect Investment Fees

OPPENHEIMER2 years

Service code 52 · EIN 22-3849391

Indirect Investment Fees

PLUMBERS & PIPEFITTERS LOCAL NO. 104 ANNUITY FUND

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PLUMBERS & PIPEFITTERS LOCAL NO. 104 ANNUITY FUND

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