Retirement plan

TULLY GROUP EMPLOYEE SAVINGS AND PROTECTION PLAN

Name: TULLY CONSTRUCTION CO., INC. - TULLY GROUP EMPLOYEE SAVINGS AND PROTECTION PLAN (2018) Form 5500
Creator: TULLY CONSTRUCTION CO., INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TULLY GROUP EMPLOYEE SAVINGS AND PROTECTION PLAN, TULLY CONSTRUCTION CO., INC.

TULLY CONSTRUCTION CO., INC.EIN 11-2493726Plan #001PY 2018

127-50 NORTHERN BLVD. - FLUSHING, NY 11368718-446-7000tullyconstruction.comLinkedIn1-10 employees

Prospect flagsLow returnsLow participationFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$24.7M

-4.1% from 2017

Total participants

939

+18.7% from 2017

Average account balance

$36,038

-25.0% from 2017

Annual return

-8.21%

-125.08 pp from 2017

Benchmarks

See 1,182 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,182 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$53.87M

Not enough data

1 years with asset history on file

Average account balance

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

$47K

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.

1,139

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.

18.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$5.44M

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

+13.16%

Not enough data

1 years with return on file

Admin fee / account holder

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

$285

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 5 by compensation

Provider	Service type	Compensation
PARK AVENUE SECURITIES LLC2 years Filed as: PARK AVENUE SECURITY Service code 26 · EIN 13-4023176	Advisory (Participants)	$64,043
ASPIRE FINANCIAL SERVICES2 years Service code 15 · EIN 27-1033755	Recordkeeping	$42,573
OBS FINANCIAL2 years Service code 27 · EIN 20-3889409	Advisory (Plan)	$32,021
ERP RETIREMENT SERVICES2 years Filed as: ERP ACTUARIES & CONSULTANTS Service code 17 · EIN 20-4100804	Pension Consulting	$27,983
TD AMERITRADE, INC.2 years Filed as: TD AMERITRADE TRUST COMPANY Service code 18 · EIN 20-0937408	Custodial (securities); Trustee (bank...	$10,074

Plan features & details

Pension benefit codes2F2G2J2K2S2T3D3H

Plan features

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$177K

$248 / participant

Contract admin$177K100.0%

% of EOY assets

0.717%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: COHNREZNICK LLP
Auditor EIN: 221478099
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$36,038

$56,443-36.2%

$83,830-57.0%

$55,725-35.3%

Participation rate

64.4%

72.0%-7.6pp

76.1%-11.7pp

70.9%-6.4pp

Annual return

-8.21%

393.67%-401.9pp

850.97%-859.2pp

244.93%-253.1pp

Employer contribution / active EE

$902

$2,682-66.4%

$3,631-75.2%

$2,078-56.6%

Participant deferral / active EE

$3,413

$2,965+15.1%

$4,082-16.4%

$3,356+1.7%

Admin fee / account holder

$258

$156+65.4%

$5,479-95.3%

$115+124.4%

Provider

Service type

Compensation

PARK AVENUE SECURITIES LLC2 years

Filed as: PARK AVENUE SECURITY

Service code 26 · EIN 13-4023176

Advisory (Participants)

$64,043

ASPIRE FINANCIAL SERVICES2 years

Service code 15 · EIN 27-1033755

Recordkeeping

$42,573

OBS FINANCIAL2 years

Service code 27 · EIN 20-3889409

Advisory (Plan)

$32,021

ERP RETIREMENT SERVICES2 years

Filed as: ERP ACTUARIES & CONSULTANTS

Service code 17 · EIN 20-4100804

Pension Consulting

$27,983

TD AMERITRADE, INC.2 years

Filed as: TD AMERITRADE TRUST COMPANY

Service code 18 · EIN 20-0937408

Custodial (securities); Trustee (bank...

$10,074

TULLY GROUP EMPLOYEE SAVINGS AND PROTECTION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TULLY GROUP EMPLOYEE SAVINGS AND PROTECTION 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