Retirement plan

IUOE LOCAL 478 ANNUITY FUND

Name: BOARD OF TRUSTEES IUOE LOCAL 478 ANNUITY FUND - IUOE LOCAL 478 ANNUITY FUND (2019) 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 2019

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

Prospect flagsLow returnsLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$263.5M

-5.6% from 2016

Total participants

4,401

-5.0% from 2016

Average account balance

$78,648

-3.6% from 2016

Annual return

18.76%

-5.94 pp from 2016

Benchmarks

See 551 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants1,000-4,999

Cohort551 peers

Snapshot2019

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 10 of 14 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.4 years Filed as: MASSACHUSETTS MUTUAL LIFE INS. CO Service code 52 · EIN 04-1590850	Indirect Investment Fees	$222,349
REID & RIEGE, P.C.4 years Filed as: REID AND REIGE, P.C. Service code 29 · EIN 06-0867204	Legal	$76,028
THE SEGAL COMPANY3 years Filed as: SEGAL MARCO ADVISORS Service code 27 · EIN 13-2646110	Advisory (Plan)	$40,303
SCHULTHEIS & PANETTIERI, LLP5+ years Service code 10 · EIN 13-1577780	Accounting	$36,076
THE SEGAL COMPANY5+ years Service code 16 · EIN 13-1835864	Consulting	$9,934
AMERICAN FUNDS2 years Service code 52 · EIN 95-1411037	Indirect Investment Fees	$0
DODGE & COX3 years Service code 52 · EIN 94-6067274	Indirect Investment Fees	$0
FIDELITY INVESTMENTS INSTITUTIONAL3 years Filed as: FIDELITY ADVISOR Service code 52 · EIN 04-3335387	Indirect Investment Fees	$0
INVESCO1 year Service code 52 · EIN 13-3054122	Indirect Investment Fees	$0
MASSACHUSETTS MUTUAL LIFE INS. CO.5+ years Service code 52	Indirect Investment Fees	$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

3 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.
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

$792K

$189 / participant

Investment mgmt$40K5.0%
Other / not subdivided$752K95.0%

% of EOY assets

0.301%

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: SCHULTHEIS & PANETTIERI, LLP
Auditor EIN: 131577780
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$78,648

$95,776-17.9%

$162,185-51.5%

$77,775+1.1%

Participation rate

74.9%

88.6%-13.7pp

87.6%-12.6pp

73.2%+1.7pp

Annual return

18.76%

37.03%-18.3pp

115.61%-96.8pp

32.58%-13.8pp

Employer contribution / active EE

$2,780

$3,874-28.2%

$5,613-50.5%

$2,504+11.0%

Participant deferral / active EE

$582

$6,125-90.5%

$7,297-92.0%

$3,966-85.3%

Admin fee / account holder

$236

$88+169.7%

$10,844-97.8%

$100+136.3%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.4 years

Filed as: MASSACHUSETTS MUTUAL LIFE INS. CO

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$222,349

REID & RIEGE, P.C.4 years

Filed as: REID AND REIGE, P.C.

Service code 29 · EIN 06-0867204

Legal

$76,028

THE SEGAL COMPANY3 years

Filed as: SEGAL MARCO ADVISORS

Service code 27 · EIN 13-2646110

Advisory (Plan)

$40,303

SCHULTHEIS & PANETTIERI, LLP5+ years

Service code 10 · EIN 13-1577780

Accounting

$36,076

THE SEGAL COMPANY5+ years

Service code 16 · EIN 13-1835864

Consulting

$9,934

AMERICAN FUNDS2 years

Service code 52 · EIN 95-1411037

Indirect Investment Fees

DODGE & COX3 years

Service code 52 · EIN 94-6067274

Indirect Investment Fees

FIDELITY INVESTMENTS INSTITUTIONAL3 years

Filed as: FIDELITY ADVISOR

Service code 52 · EIN 04-3335387

Indirect Investment Fees

INVESCO1 year

Service code 52 · EIN 13-3054122

Indirect Investment Fees

MASSACHUSETTS MUTUAL LIFE INS. CO.5+ years

Service code 52

Indirect Investment Fees

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