Retirement plan

IUOE LOCAL 478 ANNUITY FUND

Name: BOARD OF TRUSTEES IUOE LOCAL 478 ANNUITY FUND - IUOE LOCAL 478 ANNUITY FUND (2024) Form 5500
Creator: BOARD OF TRUSTEES IUOE LOCAL 478 ANNUITY FUND
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IUOE LOCAL 478 ANNUITY FUND, BOARD OF TRUSTEES IUOE LOCAL 478 ANNUITY FUND

BOARD OF TRUSTEES IUOE LOCAL 478 ANNUITY FUNDEIN 06-1230516Plan #001PY 2024

1965 DIXWELL AVENUE - HAMDEN, CT 065142400203-288-9261

Prospect flagsLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$377.3M

-5.6% from 2016

Total participants

4,060

-5.0% from 2016

Average account balance

$97,980

-3.6% from 2016

Annual return

12.71%

-5.94 pp from 2016

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

$377.32M

Not enough data

1 years with asset history on file

Average account balance

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

$98K

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.

3,851

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.

94.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$20.46M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+12.71%

Not enough data

1 years with return on file

Admin fee / account holder

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

$282

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 5 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 50 · EIN 84-0467907	Direct Payment	$242,676
REID & RIEGE, P.C.2 years Service code 29 · EIN 06-0867204	Legal	$92,798
THE SEGAL COMPANY8 years Filed as: SEGAL MARCO ADVISORS Service code 27 · EIN 13-2646110	Advisory (Plan)	$44,403
SCHULTHEIS & PANETTIERI, LLP10+ years Service code 10 · EIN 13-1577780	Accounting	$40,044
IDEAL PRINTING CO., INC.1 year Filed as: IDEAL PRINTING COMPANY, INC. Service code 49 · EIN 06-0399620	Other Services	$8,526

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.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$1.1M

$300 / participant

Investment mgmt$44K4.1%
Legal$93K8.5%
Contract admin$255K23.5%
Other / not subdivided$694K63.9%

% of EOY assets

0.288%

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: $40,000
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$97,980

$241,850-59.5%

$102,437-4.4%

$200,096-51.0%

Participation rate

94.2%

78.3%+15.9pp

74.5%+19.7pp

72.0%+22.2pp

Annual return

12.71%

17.67%-5.0pp

24.95%-12.2pp

34.26%-21.5pp

Employer contribution / active EE

$4,750

$4,253+11.7%

$3,871+22.7%

$3,038+56.4%

Participant deferral / active EE

$907

$3,961-77.1%

$5,060-82.1%

$5,090-82.2%

Admin fee / account holder

$282

$288-2.2%

$8,388-96.6%

$269+4.6%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 50 · EIN 84-0467907

Direct Payment

$242,676

REID & RIEGE, P.C.2 years

Service code 29 · EIN 06-0867204

Legal

$92,798

THE SEGAL COMPANY8 years

Filed as: SEGAL MARCO ADVISORS

Service code 27 · EIN 13-2646110

Advisory (Plan)

$44,403

SCHULTHEIS & PANETTIERI, LLP10+ years

Service code 10 · EIN 13-1577780

Accounting

$40,044

IDEAL PRINTING CO., INC.1 year

Filed as: IDEAL PRINTING COMPANY, INC.

Service code 49 · EIN 06-0399620

Other Services

$8,526

IUOE LOCAL 478 ANNUITY FUND

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IUOE LOCAL 478 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