Retirement plan

LOCAL 138, 138A, 138B & 138C INTERNATI OF OPERATING ENGINEERS ANNUITY FUND

Name: BOARD OF TRUSTEES LOCAL 138, 138A, 138B & 138C IUOE ANNUITY FUND - LOCAL 138, 138A, 138B & 138C INTERNATI OF OPERATING ENGINEERS ANNUITY FUND (2024) Form 5500
Creator: BOARD OF TRUSTEES LOCAL 138, 138A, 138B & 138C IUOE ANNUITY FUND
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LOCAL 138, 138A, 138B & 138C INTERNATI OF OPERATING ENGINEERS ANNUITY FUND, BOARD OF TRUSTEES LOCAL 138, 138A, 138B & 138C IUOE ANNUITY FUND

BOARD OF TRUSTEES LOCAL 138, 138A, 138B & 138C IUOE ANNUITY FUNDEIN 11-2653717Plan #002PY 2024

P.O. BOX 206, 137 GAZZA BLVD. - FARMINGDALE, NY 117351415

Other plans on this EIN

1 filing

#001Retirement-$1.1M assets

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$358.6M

+8.6% from 2023

Total participants

2,763

-8.5% from 2023

Average account balance

$129,791

+8.6% from 2023

Annual return

8.23%

+1.93 pp from 2023

Benchmarks

See 609 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants1,000-4,999

Cohort609 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$389.52M

Not enough data

1 years with asset history on file

Average account balance

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

$139K

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.

2,804

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$28.30M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$20K

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

+8.01%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1115

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 18 by compensation

Provider	Service type	Compensation
EATON VANCE9+ years Service code 28 · EIN 04-3101341	Investment Management	$421,756
UBS FINANCIAL SERVICES INC3 years Filed as: UBS FINANCIAL SERVICES INC. Service code 19 · EIN 13-2638166	Securities Custodian	$387,654
IUOE LOCAL 138 APPRENTICE FUND9+ years Service code 49 · EIN 11-2000172	Other Services	$359,403
IUOE LOCAL 138 WELFARE FUND9+ years Service code 49 · EIN 11-1628170	Other Services	$341,279
IUOE LOCAL 138, 138A, 138B, 138C9+ years Service code 49 · EIN 11-0908470	Other Services	$300,593
INTERCONTINENTAL REAL ESTATE CORP7 years Filed as: INTERCONTINENTAL REAL ESTATE Service code 28 · EIN 04-2895544	Investment Management	$235,868
TOCQUEVILLE ASSET MANAGEMENT9+ years Filed as: TOCQUEVILLE Service code 28 · EIN 13-3547557	Investment Management	$216,999
BLACKROCK9+ years Service code 28 · EIN 20-5319476	Investment Management	$111,066
JOHN HANCOCK LIFE INSURANCE COMPANY3 years Filed as: JOHN HANCOCK Service code 19 · EIN 01-0233346	Securities Custodian	$99,190
DAHAB ASSOCIATES9+ years Service code 28 · EIN 11-2783874	Investment Management	$93,185

Plan features & details

Pension benefit codes2E2G2H

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$2.9M

$2199 / participant

Investment mgmt$2M55.0%
Legal$88K3.0%
Actuarial$18K0.6%
Salaries / allowances$633K21.5%
Other / not subdivided$586K19.9%

% of EOY assets

0.820%

all-in expense ratio

Categories reported

4 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CITRIN COOPERMAN & COMPANY LLP
Auditor EIN: 222428965
Audit fees: $66,150
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$129,791

$122,596+5.9%

$184,243-29.6%

$199,921-35.1%

Participation rate

100.0%

86.9%+13.1pp

86.8%+13.2pp

72.0%+28.0pp

Annual return

8.23%

144.14%-135.9pp

28.82%-20.6pp

34.28%-26.1pp

Employer contribution / active EE

$19,398

$4,570+324.4%

$6,427+201.8%

$3,035+539.0%

Participant deferral / active EE

$7,972-100.0%

$9,132-100.0%

$5,089-100.0%

Admin fee / account holder

$1,065

$120+784.7%

$13,914-92.3%

$269+295.6%

Provider

Service type

Compensation

EATON VANCE9+ years

Service code 28 · EIN 04-3101341

Investment Management

$421,756

UBS FINANCIAL SERVICES INC3 years

Filed as: UBS FINANCIAL SERVICES INC.

Service code 19 · EIN 13-2638166

Securities Custodian

$387,654

IUOE LOCAL 138 APPRENTICE FUND9+ years

Service code 49 · EIN 11-2000172

Other Services

$359,403

IUOE LOCAL 138 WELFARE FUND9+ years

Service code 49 · EIN 11-1628170

Other Services

$341,279

IUOE LOCAL 138, 138A, 138B, 138C9+ years

Service code 49 · EIN 11-0908470

Other Services

$300,593

INTERCONTINENTAL REAL ESTATE CORP7 years

Filed as: INTERCONTINENTAL REAL ESTATE

Service code 28 · EIN 04-2895544

Investment Management

$235,868

TOCQUEVILLE ASSET MANAGEMENT9+ years

Filed as: TOCQUEVILLE

Service code 28 · EIN 13-3547557

Investment Management

$216,999

BLACKROCK9+ years

Service code 28 · EIN 20-5319476

Investment Management

$111,066

JOHN HANCOCK LIFE INSURANCE COMPANY3 years

Filed as: JOHN HANCOCK

Service code 19 · EIN 01-0233346

Securities Custodian

$99,190

DAHAB ASSOCIATES9+ years

Service code 28 · EIN 11-2783874

Investment Management

$93,185

LOCAL 138, 138A, 138B & 138C INTERNATI OF OPERATING ENGINEERS ANNUITY FUND

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LOCAL 138, 138A, 138B & 138C INTERNATI OF OPERATING ENGINEERS 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