Retirement plan

ANNUITY FUND OF LOCAL NO. ONE, I. A. T. S. E.

Name: BOARD OF TRUSTEES, ANNUITY FUND OF LOCAL NO. ONE, I.A.T.S.E. - ANNUITY FUND OF LOCAL NO. ONE, I. A. T. S. E. (2021) Form 5500
Creator: BOARD OF TRUSTEES, ANNUITY FUND OF LOCAL NO. ONE, I.A.T.S.E.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ANNUITY FUND OF LOCAL NO. ONE, I. A. T. S. E., BOARD OF TRUSTEES, ANNUITY FUND OF LOCAL NO. ONE, I.A.T.S.E.

BOARD OF TRUSTEES, ANNUITY FUND OF LOCAL NO. ONE, I.A.T.S.E.EIN 13-3022965Plan #002PY 2021

320 WEST 46TH ST., 6TH FLOOR - NEW YORK, NY 10036212-247-5225

Prospect flagsLow returnsLow participationLow participant contributionFailed to transmit contributionsLoss discovered

How to read this page

Total assets (EOY)

$1131.9M

-12.1% from 2017

Total participants

18,890

+2.2% from 2017

Average account balance

$120,083

-15.7% from 2017

Annual return

10.60%

-7.30 pp from 2017

Benchmarks

See 1,072 peers

Peer group

Industryany (size+type match)

Plan typeDefined contribution

Participants>=10,000

Cohort1,072 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.18B

Not enough data

1 years with asset history on file

Average account balance

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

$104K

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.

11,366

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.

46.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$52.53M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+11.39%

Not enough data

1 years with return on file

Admin fee / account holder

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

$102

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 10 of 15 by compensation

Provider	Service type	Compensation
SPIVAK LIPTON LLP6+ years Service code 29 · EIN 13-3494495	Legal	$104,159
PROSKAUER ROSE LLP6+ years Service code 29 · EIN 13-1840454	Legal	$92,095
GALLAGHER FIDUCIARY ADVISORS, LLC3 years Filed as: GALLAGHER FIDUCIARY ADVISORS LLC Service code 27 · EIN 36-4291971	Advisory (Plan)	$60,000
SCHULTHEIS & PANETTIERI, LLP3 years Service code 10 · EIN 13-1577780	Accounting	$49,275
THE SEGAL COMPANY2 years Filed as: SEGAL SELECT INSURANCE SERVICES,INC Service code 22 · EIN 46-0619194	Insurance Broker	$15,748
SYNTONIC SYSTEMS, INC.2 years Filed as: SYNTONIC SYSTEMS INC. Service code 16 · EIN 13-2925049	Consulting	$9,396
COMPREHENSIVE CONSULTING SOLUTIONS2 years Service code 16 · EIN 52-2099008	Consulting	$7,236
SECURE ASSET MANAGEMENT1 year Filed as: SECURE BUSINESS DATA Service code 16 23522 DUKES RUN DR. · SPRING, TX 77373	Consulting	$6,563
MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 51 · EIN 04-1590850	Investment Mgmt Fees	$5,334
AB FUNDS1 year Service code 52	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2J2F2G2T

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

5 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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).
ComplianceLoss discovered
Plan reported the discovery of a loss from fraud or dishonesty.

Expense breakdown

Schedule H Part II

Admin total

$962K

$52 / participant

Investment mgmt$65K6.8%
Other / not subdivided$896K93.2%

% of EOY assets

0.085%

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

$120,083

$106,520+12.7%

$142,908-16.0%

$106,520+12.7%

Participation rate

48.5%

71.3%-22.8pp

72.0%-23.4pp

71.3%-22.8pp

Annual return

10.60%

19.28%-8.7pp

5640.16%-5629.6pp

19.28%-8.7pp

Employer contribution / active EE

$1,145

$2,840-59.7%

$4,146-72.4%

$2,840-59.7%

Participant deferral / active EE

$13

$4,948-99.7%

$3,838-99.6%

$4,948-99.7%

Admin fee / account holder

$102

$75+36.9%

$6,560-98.4%

$75+36.9%

Provider

Service type

Compensation

SPIVAK LIPTON LLP6+ years

Service code 29 · EIN 13-3494495

Legal

$104,159

PROSKAUER ROSE LLP6+ years

Service code 29 · EIN 13-1840454

Legal

$92,095

GALLAGHER FIDUCIARY ADVISORS, LLC3 years

Filed as: GALLAGHER FIDUCIARY ADVISORS LLC

Service code 27 · EIN 36-4291971

Advisory (Plan)

$60,000

SCHULTHEIS & PANETTIERI, LLP3 years

Service code 10 · EIN 13-1577780

Accounting

$49,275

THE SEGAL COMPANY2 years

Filed as: SEGAL SELECT INSURANCE SERVICES,INC

Service code 22 · EIN 46-0619194

Insurance Broker

$15,748

SYNTONIC SYSTEMS, INC.2 years

Filed as: SYNTONIC SYSTEMS INC.

Service code 16 · EIN 13-2925049

Consulting

$9,396

COMPREHENSIVE CONSULTING SOLUTIONS2 years

Service code 16 · EIN 52-2099008

Consulting

$7,236

SECURE ASSET MANAGEMENT1 year

Filed as: SECURE BUSINESS DATA

Service code 16

23522 DUKES RUN DR. · SPRING, TX 77373

Consulting

$6,563

MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years

Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE

Service code 51 · EIN 04-1590850

Investment Mgmt Fees

$5,334

AB FUNDS1 year

Service code 52

Indirect Investment Fees

ANNUITY FUND OF LOCAL NO. ONE, I. A. T. S. E.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ANNUITY FUND OF LOCAL NO. ONE, I. A. T. S. E.

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