Retirement plan

UNITED WEIGHERS AND SUGAR SAMPLERS ASSOCIATION ILA LOCAL 3 UNION PROFIT SHARING PLAN

Name: ASSOCIATION OF INDEPENDENT AMERICAN WEIGHMASTERS, INC. - UNITED WEIGHERS AND SUGAR SAMPLERS ASSOCIATION ILA LOCAL 3 UNION PROFIT SHARING PLAN (2020) Form 5500
Creator: ASSOCIATION OF INDEPENDENT AMERICAN WEIGHMASTERS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, UNITED WEIGHERS AND SUGAR SAMPLERS ASSOCIATION ILA LOCAL 3 UNION PROFIT SHARING PLAN, ASSOCIATION OF INDEPENDENT AMERICAN WEIGHMASTERS, INC.

ASSOCIATION OF INDEPENDENT AMERICAN WEIGHMASTERS, INC.EIN 13-1962196Plan #004PY 2020

5 HANOVER SQUARE, 23RD FLOOR - NEW YORK, NY 10004212-482-8600

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.7M

+17.5% from 2019

Total participants

0.0% from 2019

Average account balance

$241,916

+17.5% from 2019

Annual return

13.79%

+8.49 pp from 2019

Benchmarks

See 6,938 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants<25

Cohort6,938 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.24M

Not enough data

1 years with asset history on file

Average account balance

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

$280K

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.

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.

133.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$98K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+19.72%

Not enough data

1 years with return on file

Admin fee / account holder

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

$43593

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J3D

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.
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.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$40K

$6667 / participant

Other / not subdivided$40K100.0%

% of EOY assets

2.362%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$241,916

$102,638+135.7%

$81,982+195.1%

$158,982+52.2%

Participation rate

100.0%

75.5%+24.5pp

69.3%+30.7pp

82.0%+18.0pp

Annual return

13.79%

61.05%-47.3pp

41.31%-27.5pp

302.99%-289.2pp

Employer contribution / active EE

$12,000

$3,241+270.3%

$2,498+380.3%

$4,763+152.0%

Participant deferral / active EE

$3,523

$4,649-24.2%

$3,722-5.3%

$5,983-41.1%

Admin fee / account holder

$5,714

$8,237-30.6%

$5,665+0.9%

$11,252-49.2%

UNITED WEIGHERS AND SUGAR SAMPLERS ASSOCIATION ILA LOCAL 3 UNION PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

UNITED WEIGHERS AND SUGAR SAMPLERS ASSOCIATION ILA LOCAL 3 UNION PROFIT SHARING 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