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 (2023) 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 2023

162 WEST ST. BLDG 2, SUITE J - CROMWELL, CT 064164404203-238-1204LinkedIn1-10 employeesconstruction

Prospect flagsLow returnsLow participant contribution

How to read this page

Total assets (EOY)

$71.5M

+5.2% from 2022

Total participants

1,323

-3.1% from 2022

Average account balance

$62,654

+3.2% from 2022

Annual return

6.91%

+15.83 pp from 2022

Benchmarks

See 531 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort531 peers

Snapshot2023

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

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Service providers

Top 7 by compensation

Provider	Service type	Compensation
REID & RIEGE, P.C.1 year Filed as: REID & REIGE P.C. Service code 29 · EIN 06-0867204	Legal	$39,264
EMPLOYEE K1 year Filed as: EMPLOYEE X Service code 30 · EIN 06-1074625	Direct payment from the plan; Employe...	$30,310
THE SEGAL COMPANY2 years Filed as: SEGAL MARCO ADVISORS. INC. Service code 27 · EIN 13-2646110	Advisory (Plan)	$30,000
NOVAK FRANCELLA LLC6 years Filed as: NOVAK FRANCELLA, LLC Service code 10 · EIN 61-1436956	Accounting	$28,055
EMPLOYEE K1 year Filed as: EMPLOYEE Y Service code 30 · EIN 06-1074625	Direct payment from the plan; Employe...	$25,620
BRIDGEWAY BENEFIT TECHNOLOGIES1 year Service code 16 · EIN 52-1796473	Consulting	$16,831
R.M. CHEVERIE & ASSOCIATES6 years Service code 29 · EIN 06-1335139	Legal	$8,610

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

$234K

$190 / participant

Investment mgmt$30K12.8%
Other / not subdivided$204K87.2%

% of EOY assets

0.327%

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

$62,654

$88,479-29.2%

$96,515-35.1%

$80,157-21.8%

Participation rate

85.2%

79.9%+5.3pp

74.3%+10.9pp

72.9%+12.3pp

Annual return

6.91%

22.53%-15.6pp

35.73%-28.8pp

40.39%-33.5pp

Employer contribution / active EE

$3,770

$4,177-9.7%

$3,740+0.8%

$2,977+26.6%

Participant deferral / active EE

$130

$3,961-96.7%

$4,880-97.3%

$5,015-97.4%

Admin fee / account holder

$205

$211-3.0%

$6,735-97.0%

$145+41.6%

Provider

Service type

Compensation

REID & RIEGE, P.C.1 year

Filed as: REID & REIGE P.C.

Service code 29 · EIN 06-0867204

Legal

$39,264

EMPLOYEE K1 year

Filed as: EMPLOYEE X

Service code 30 · EIN 06-1074625

Direct payment from the plan; Employe...

$30,310

THE SEGAL COMPANY2 years

Filed as: SEGAL MARCO ADVISORS. INC.

Service code 27 · EIN 13-2646110

Advisory (Plan)

$30,000

NOVAK FRANCELLA LLC6 years

Filed as: NOVAK FRANCELLA, LLC

Service code 10 · EIN 61-1436956

Accounting

$28,055

EMPLOYEE K1 year

Filed as: EMPLOYEE Y

Service code 30 · EIN 06-1074625

Direct payment from the plan; Employe...

$25,620

BRIDGEWAY BENEFIT TECHNOLOGIES1 year

Service code 16 · EIN 52-1796473

Consulting

$16,831

R.M. CHEVERIE & ASSOCIATES6 years

Service code 29 · EIN 06-1335139

Legal

$8,610

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