Retirement plan

PLUMBERS AND PIPEFITTERS LOCAL NO. 104 ANNUITY FUND

Name: PLUMBERS AND PIPEFITTERS LOCAL 104 - PLUMBERS AND PIPEFITTERS LOCAL NO. 104 ANNUITY FUND (2020) Form 5500
Creator: PLUMBERS AND PIPEFITTERS LOCAL 104
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PLUMBERS AND PIPEFITTERS LOCAL NO. 104 ANNUITY FUND, PLUMBERS AND PIPEFITTERS LOCAL 104

PLUMBERS AND PIPEFITTERS LOCAL 104EIN 04-2564795Plan #003PY 2020

86 LOWER WESTFIELD ROAD - HOLYOKE, MA 01040413-594-5152ualocal104.orgLinkedIn201-500 employeesfinancial services

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$70.7M

+6.7% from 2019

Total participants

404

-0.7% from 2019

Average account balance

$184,704

+6.7% from 2019

Annual return

5.65%

+1.07 pp from 2019

Benchmarks

See 1,455 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,455 peers

Snapshot2020

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 13 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.2 years Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 52 · EIN 04-1590850	Indirect Investment Fees	$52,617
CARLEY GUILBERT5+ years Service code 12 86 LOWER WESTFIELD ROAD · HOLYOKE, MA 01040	Claims processing	$21,255
NICHOLAS LAPIER CPA PC5+ years Service code 10 · EIN 32-0008525	Accounting	$18,698
KRAKOW & SOURIS3 years Filed as: KRAKOW SOURIS & LANDRY LLC Service code 22 225 FRIEND STREET · BOSTON, MA 02114	Insurance Broker	$5,400
BMO HARRIS BANK NA3 years Filed as: BMO GLOBAL ASSET MANAGEMENT Service code 52 · EIN 25-1689258	Indirect Investment Fees	$0
COMMONWEALTH FINANCIAL NETWORK3 years Service code 26 · EIN 04-2675571	Advisory (Participants)	$0
INVESCO1 year Service code 52 · EIN 22-3849391	Indirect Investment Fees	$0
MORGAN STANLEY SMITH BARNEY3 years Filed as: JP MORGAN Service code 52 · EIN 26-3613641	Indirect Investment Fees	$0
MANNING & NAPIER2 years Service code 52 · EIN 02-0476209	Indirect Investment Fees	$0
MASSACHUSETTS MUTUAL LIFE INS. CO.1 year Filed as: MASSACHUSETTS MUTUAL LIFE INSRUANCE Service code 52	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

$133K

$430 / participant

Investment mgmt$53K39.6%
Other / not subdivided$80K60.4%

% of EOY assets

0.188%

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: LAPIER, DILLON & ASSOCIATES, P.C.
Auditor EIN: 320048525
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$184,704

$111,608+65.5%

$177,848+3.9%

$73,412+151.6%

Participation rate

93.2%

87.9%+5.3pp

87.7%+5.5pp

72.2%+21.0pp

Annual return

5.65%

18.23%-12.6pp

48.33%-42.7pp

59.30%-53.6pp

Employer contribution / active EE

$8,662

$3,796+128.2%

$5,919+46.4%

$2,234+287.8%

Participant deferral / active EE

$6,199-100.0%

$7,714-100.0%

$3,806-100.0%

Admin fee / account holder

$347

$166+109.4%

$12,431-97.2%

$158+119.6%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.2 years

Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$52,617

CARLEY GUILBERT5+ years

Service code 12

86 LOWER WESTFIELD ROAD · HOLYOKE, MA 01040

Claims processing

$21,255

NICHOLAS LAPIER CPA PC5+ years

Service code 10 · EIN 32-0008525

Accounting

$18,698

KRAKOW & SOURIS3 years

Filed as: KRAKOW SOURIS & LANDRY LLC

Service code 22

225 FRIEND STREET · BOSTON, MA 02114

Insurance Broker

$5,400

BMO HARRIS BANK NA3 years

Filed as: BMO GLOBAL ASSET MANAGEMENT

Service code 52 · EIN 25-1689258

Indirect Investment Fees

COMMONWEALTH FINANCIAL NETWORK3 years

Service code 26 · EIN 04-2675571

Advisory (Participants)

INVESCO1 year

Service code 52 · EIN 22-3849391

Indirect Investment Fees

MORGAN STANLEY SMITH BARNEY3 years

Filed as: JP MORGAN

Service code 52 · EIN 26-3613641

Indirect Investment Fees

MANNING & NAPIER2 years

Service code 52 · EIN 02-0476209

Indirect Investment Fees

MASSACHUSETTS MUTUAL LIFE INS. CO.1 year

Filed as: MASSACHUSETTS MUTUAL LIFE INSRUANCE

Service code 52

Indirect Investment Fees

PLUMBERS AND PIPEFITTERS LOCAL NO. 104 ANNUITY FUND

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PLUMBERS AND 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