Retirement plan

I.U.O.E. LOCAL 98 ANNUITY FUND

Name: BOARD OF TRUSTEES I.U.O.E. LOCAL 98 ANNUITY FUND - I.U.O.E. LOCAL 98 ANNUITY FUND (2024) Form 5500
Creator: BOARD OF TRUSTEES I.U.O.E. LOCAL 98 ANNUITY FUND
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, I.U.O.E. LOCAL 98 ANNUITY FUND, BOARD OF TRUSTEES I.U.O.E. LOCAL 98 ANNUITY FUND

BOARD OF TRUSTEES I.U.O.E. LOCAL 98 ANNUITY FUNDEIN 04-3030313Plan #002PY 2024

40 HUDSON DRIVE, P.O BOX 1290 - SOUTHWICK, MA 01077413-998-3230

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$93.7M

+8.3% from 2023

Total participants

1,520

+5.0% from 2023

Average account balance

$76,226

+5.8% from 2023

Annual return

10.51%

-2.96 pp from 2023

Benchmarks

See 560 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort560 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$93.68M

Not enough data

1 years with asset history on file

Average account balance

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

$76K

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.

1,229

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.

78.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.39M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+10.51%

Not enough data

1 years with return on file

Admin fee / account holder

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

$330

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 4 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 52 · EIN 20-3691708	Indirect Investment Fees	$155,158
MEKETA INVESTMENT GROUP10+ years Filed as: MEKETA INVESTMENT GROUP, INC Service code 27 · EIN 04-2659023	Advisory (Plan)	$37,200
SCHULTHEIS & PANETTIERI, LLP10+ years Service code 10 · EIN 13-1577780	Accounting	$29,000
BLITMAN & KING10+ years Filed as: BLITMAN & KING, LLP Service code 29 · EIN 16-1047304	Legal	$25,798

Plan features & details

Pension benefit codes2E2F2G2T

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.
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

$406K

$298 / participant

Investment mgmt$37K9.2%
Legal$26K6.4%
Contract admin$155K38.2%
Other / not subdivided$188K46.3%

% of EOY assets

0.433%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: SCHULTHEIS & PANETTIERI, LLP
Auditor EIN: 131577780
Audit fees: $29,000
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$76,226

$241,850-68.5%

$102,437-25.6%

$200,096-61.9%

Participation rate

78.6%

78.3%+0.3pp

74.5%+4.1pp

72.0%+6.6pp

Annual return

10.51%

17.67%-7.2pp

24.95%-14.4pp

34.26%-23.8pp

Employer contribution / active EE

$2,488

$4,253-41.5%

$3,871-35.7%

$3,038-18.1%

Participant deferral / active EE

$3,961-100.0%

$5,060-100.0%

$5,090-100.0%

Admin fee / account holder

$330

$288+14.7%

$8,388-96.1%

$269+22.7%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 52 · EIN 20-3691708

Indirect Investment Fees

$155,158

MEKETA INVESTMENT GROUP10+ years

Filed as: MEKETA INVESTMENT GROUP, INC

Service code 27 · EIN 04-2659023

Advisory (Plan)

$37,200

SCHULTHEIS & PANETTIERI, LLP10+ years

Service code 10 · EIN 13-1577780

Accounting

$29,000

BLITMAN & KING10+ years

Filed as: BLITMAN & KING, LLP

Service code 29 · EIN 16-1047304

Legal

$25,798

I.U.O.E. LOCAL 98 ANNUITY FUND

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

I.U.O.E. LOCAL 98 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