Retirement plan

PLUMBERS AND PIPEFITTERS LOCAL NO. 104 ANNUITY FUND

Name: PLUMBERS & PIPEFITTERS LOCAL NO 104 - PLUMBERS AND PIPEFITTERS LOCAL NO. 104 ANNUITY FUND (2023) Form 5500
Creator: PLUMBERS & PIPEFITTERS LOCAL NO 104
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PLUMBERS AND PIPEFITTERS LOCAL NO. 104 ANNUITY FUND, PLUMBERS & PIPEFITTERS LOCAL NO 104

PLUMBERS & PIPEFITTERS LOCAL NO 104EIN 04-2564795Plan #003PY 2023

86 LOWER WESTFIELD RD - HOLYOKE, MA 010402712413-594-5152ualocal104.orgLinkedIn201-500 employeesfinancial services

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$78.3M

+2.1% from 2022

Total participants

442

+6.3% from 2022

Average account balance

$190,566

-3.4% from 2022

Annual return

6.24%

+11.10 pp from 2022

Benchmarks

See 1,521 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,521 peers

Snapshot2023

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 6 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 62 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping fees; Float revenue	$53,452
LAPIER DILLON AND ASSOCIATES PC1 year Service code 10 · EIN 32-0048525	Accounting	$12,552
BARBARA GILL2 years Filed as: BARBARA WILLETT Service code 12 86 LOWER WESTFIELD ROAD · HOLYOKE, MA 01040	Claims processing	$11,042
CARLEY GUILBERT8+ years Service code 12 86 LOWER WESTFIELD ROAD · HOLYOKE, MA 01040	Claims processing	$10,563
COMMONWEALTH FINANCIAL NETWORK1 year Filed as: COMMONWEALTH EQUITY SERVICES LLC DB Service code 26 29 SAWYER ROAD · WALTHAM, MA 02453	Advisory (Participants)	$5,000
KRAKOW & SOURIS3 years Filed as: KRAKOW SOURIS AND LANDRY LLC Service code 22 90 CANAL STREET 4TH FLOOR · BOSTON, MA 02114	Insurance Broker	$5,000

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

$125K

$361 / participant

Investment mgmt$52K41.7%
Contract admin$23K18.8%
Other / not subdivided$49K39.5%

% of EOY assets

0.160%

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: LAPIER DILLON AND ASSOCIATES PC
Auditor EIN: 320048525
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$190,566

$100,272+90.0%

$170,057+12.1%

$74,473+155.9%

Participation rate

91.1%

87.4%+3.7pp

87.0%+4.1pp

70.7%+20.3pp

Annual return

6.24%

66.12%-59.9pp

53.42%-47.2pp

34.36%-28.1pp

Employer contribution / active EE

$9,608

$4,266+125.2%

$6,790+41.5%

$2,638+264.2%

Participant deferral / active EE

$7,147-100.0%

$10,411-100.0%

$4,530-100.0%

Admin fee / account holder

$305

$235+29.8%

$12,826-97.6%

$347-12.2%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 62

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping fees; Float revenue

$53,452

LAPIER DILLON AND ASSOCIATES PC1 year

Service code 10 · EIN 32-0048525

Accounting

$12,552

BARBARA GILL2 years

Filed as: BARBARA WILLETT

Service code 12

86 LOWER WESTFIELD ROAD · HOLYOKE, MA 01040

Claims processing

$11,042

CARLEY GUILBERT8+ years

Service code 12

86 LOWER WESTFIELD ROAD · HOLYOKE, MA 01040

Claims processing

$10,563

COMMONWEALTH FINANCIAL NETWORK1 year

Filed as: COMMONWEALTH EQUITY SERVICES LLC DB

Service code 26

29 SAWYER ROAD · WALTHAM, MA 02453

Advisory (Participants)

$5,000

KRAKOW & SOURIS3 years

Filed as: KRAKOW SOURIS AND LANDRY LLC

Service code 22

90 CANAL STREET 4TH FLOOR · BOSTON, MA 02114

Insurance Broker

$5,000

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