Retirement plan

IRON WORKERS' LOCALS NO. 15 & 424 ANNUITY PLAN

Name: BOARD OF TRUSTEES IRON WORKERS' LOCALS NO.15 & 424 - IRON WORKERS' LOCALS NO. 15 & 424 ANNUITY PLAN (2020) Form 5500
Creator: BOARD OF TRUSTEES IRON WORKERS' LOCALS NO.15 & 424
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IRON WORKERS' LOCALS NO. 15 & 424 ANNUITY PLAN, BOARD OF TRUSTEES IRON WORKERS' LOCALS NO.15 & 424

BOARD OF TRUSTEES IRON WORKERS' LOCALS NO.15 & 424dba ANNUITY FUNDEIN 06-1074625Plan #002PY 2020

321 RESEARCH PARKWAY SUITE 210 - MERIDEN, CT 064508340203-238-1204LinkedIn1-10 employeesconstruction

Prospect flagsLow returnsLow participant contribution

How to read this page

Total assets (EOY)

$66.4M

-6.2% from 2019

Total participants

1,223

-2.5% from 2019

Average account balance

$66,365

+1.7% from 2019

Annual return

5.58%

-0.57 pp from 2019

Benchmarks

See 458 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort458 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$79.65M

Not enough data

1 years with asset history on file

Average account balance

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

$71K

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.

1,116

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.

18.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.81M

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

+8.00%

Not enough data

1 years with return on file

Admin fee / account holder

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

$228

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 16 by compensation

Provider	Service type	Compensation
NEPC, LLC5+ years Service code 27 · EIN 26-1429809	Advisory (Plan)	$45,000
EMPLOYEE K5+ years Filed as: EMPLOYEE Service code 30 · EIN 06-1074625	Employee (plan); Direct payment from ...	$36,267
REID & RIEGE, P.C.3 years Filed as: REID & REIGE Service code 29 · EIN 06-0867204	Legal	$27,658
NOVAK FRANCELLA LLC3 years Filed as: NOVAK FRANCELLA, LLC Service code 10 · EIN 61-1436956	Accounting	$25,942
R.M. CHEVERIE & ASSOCIATES3 years Service code 29 · EIN 06-1335139	Legal	$20,808
BENESYS, INC.2 years Filed as: INNOVATIVE SOFTWARE SOLUTIONS, INC. Service code 16 · EIN 23-2182079	Consulting	$9,978
MASSACHUSETTS MUTUAL LIFE INS. CO.3 years Service code 52 · EIN 04-1590850	Indirect Investment Fees	$270
DODGE & COX3 years Filed as: DODGE AND COX Service code 28 · EIN 94-6067274	Investment Management	$0
EATON VANCE3 years Service code 28 · EIN 04-6039283	Investment Management	$0
HANCOCK WHITNEY BANK3 years Filed as: HANCOCK HORIZON Service code 28 · EIN 23-3040006	Investment Management	$0

Plan features & details

Pension benefit codes2E2F2G2J2T

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.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
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.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$256K

$226 / participant

Investment mgmt$45K17.6%
Other / not subdivided$211K82.4%

% of EOY assets

0.386%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: NOVAK FRANCELLA, LLC
Auditor EIN: 611436956
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$66,365

$81,719-18.8%

$101,275-34.5%

$90,274-26.5%

Participation rate

80.4%

80.7%-0.4pp

75.8%+4.5pp

73.4%+7.0pp

Annual return

5.58%

337.64%-332.1pp

46.48%-40.9pp

53.97%-48.4pp

Employer contribution / active EE

$2,797

$3,622-22.8%

$3,660-23.6%

$2,523+10.8%

Participant deferral / active EE

$75

$3,310-97.7%

$4,371-98.3%

$4,231-98.2%

Admin fee / account holder

$256

$162+58.3%

$5,948-95.7%

$114+124.7%

Provider

Service type

Compensation

NEPC, LLC5+ years

Service code 27 · EIN 26-1429809

Advisory (Plan)

$45,000

EMPLOYEE K5+ years

Filed as: EMPLOYEE

Service code 30 · EIN 06-1074625

Employee (plan); Direct payment from ...

$36,267

REID & RIEGE, P.C.3 years

Filed as: REID & REIGE

Service code 29 · EIN 06-0867204

Legal

$27,658

NOVAK FRANCELLA LLC3 years

Filed as: NOVAK FRANCELLA, LLC

Service code 10 · EIN 61-1436956

Accounting

$25,942

R.M. CHEVERIE & ASSOCIATES3 years

Service code 29 · EIN 06-1335139

Legal

$20,808

BENESYS, INC.2 years

Filed as: INNOVATIVE SOFTWARE SOLUTIONS, INC.

Service code 16 · EIN 23-2182079

Consulting

$9,978

MASSACHUSETTS MUTUAL LIFE INS. CO.3 years

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$270

DODGE & COX3 years

Filed as: DODGE AND COX

Service code 28 · EIN 94-6067274

Investment Management

EATON VANCE3 years

Service code 28 · EIN 04-6039283

Investment Management

HANCOCK WHITNEY BANK3 years

Filed as: HANCOCK HORIZON

Service code 28 · EIN 23-3040006

Investment Management

IRON WORKERS' LOCALS NO. 15 & 424 ANNUITY PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IRON WORKERS' LOCALS NO. 15 & 424 ANNUITY PLAN

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