Retirement plan

ROOFERS & SLATERS LOCAL UNION NO. 248 ANNUITY AND 401(K) SAVINGS FUND

Name: ROOFERS & SLATERS LOCAL UNION NO. 248 - ROOFERS & SLATERS LOCAL UNION NO. 248 ANNUITY AND 401(K) SAVINGS FUND (2024) Form 5500
Creator: ROOFERS & SLATERS LOCAL UNION NO. 248
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ROOFERS & SLATERS LOCAL UNION NO. 248 ANNUITY AND 401(K) SAVINGS FUND, ROOFERS & SLATERS LOCAL UNION NO. 248

ROOFERS & SLATERS LOCAL UNION NO. 248EIN 04-2636807Plan #003PY 2024

595 SOUTHAMPTON ROAD, FIRST FLOOR - WESTFIELD, MA 01085413-594-5494LinkedIn51-200 employeescivic & social organization

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$5.3M

+19.6% from 2023

Total participants

+10.8% from 2023

Average account balance

$64,050

+7.9% from 2023

Annual return

20.81%

+13.79 pp from 2023

Benchmarks

See 10,646 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort10,646 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.25M

Not enough data

1 years with asset history on file

Average account balance

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

$64K

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.

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

$435K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+20.81%

Not enough data

1 years with return on file

Admin fee / account holder

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

$862

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 2 by compensation

Provider	Service type	Compensation
LAPIER DILLON AND ASSOCIATES PC4 years Filed as: LAPIER, DILLON AND ASSOCIATES, P.C. Service code 10 · EIN 32-0048525	Accounting	$11,552
JOHN HANCOCK LIFE INSURANCE COMPANY9+ years Filed as: JOHN HANCOCK USA Service code 15 · EIN 01-0233346	Recordkeeping	$3,899

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

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
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

$71K

$1725 / participant

Legal$2K3.1%
Other trustee fees$38K53.7%
Contract admin$2K2.5%
Other / not subdivided$29K40.7%

% of EOY assets

1.346%

all-in expense ratio

Categories reported

3 / 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 AND ASSOCIATES, P.C.
Auditor EIN: 320048525
Audit fees: $11,552
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$64,050

$58,311+9.8%

$81,882-21.8%

$80,959-20.9%

Participation rate

100.0%

63.5%+36.5pp

72.4%+27.6pp

67.7%+32.3pp

Annual return

20.81%

41.85%-21.0pp

779.47%-758.7pp

35.67%-14.9pp

Employer contribution / active EE

$10,079

$2,347+329.5%

$2,916+245.6%

$2,757+265.5%

Participant deferral / active EE

$530

$3,287-83.9%

$4,323-87.7%

$4,300-87.7%

Admin fee / account holder

$862

$4,752-81.9%

$7,360-88.3%

$6,925-87.5%

Provider

Service type

Compensation

LAPIER DILLON AND ASSOCIATES PC4 years

Filed as: LAPIER, DILLON AND ASSOCIATES, P.C.

Service code 10 · EIN 32-0048525

Accounting

$11,552

JOHN HANCOCK LIFE INSURANCE COMPANY9+ years

Filed as: JOHN HANCOCK USA

Service code 15 · EIN 01-0233346

Recordkeeping

$3,899

ROOFERS & SLATERS LOCAL UNION NO. 248 ANNUITY AND 401(K) SAVINGS FUND

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ROOFERS & SLATERS LOCAL UNION NO. 248 ANNUITY AND 401(K) SAVINGS 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