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. (2023) 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 2023

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

Prospect flagsLow returnsLow participationLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$1075.1M

-12.1% from 2017

Total participants

22,420

+2.2% from 2017

Average account balance

$93,268

-15.7% from 2017

Annual return

13.80%

-7.30 pp from 2017

Benchmarks

See 1,196 peers

Peer group

Industryany (size+type match)

Plan typeDefined contribution

Participants>=10,000

Cohort1,196 peers

Snapshot2023

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 9 by compensation

Provider	Service type	Compensation
PROSKAUER ROSE LLP8+ years Service code 29 · EIN 13-1840454	Legal	$113,625
SPIVAK LIPTON LLP8+ years Service code 29 · EIN 13-3494495	Legal	$113,519
GALLAGHER FIDUCIARY ADVISORS, LLC5 years Filed as: GALLAGHER FIDUCIARY ADVISORS LLC Service code 27 · EIN 36-4291971	Advisory (Plan)	$78,829
SCHULTHEIS & PANETTIERI, LLP5 years Service code 10 · EIN 13-1577780	Accounting	$61,457
PRICEWATERHOUSECOOPERS LLP1 year Filed as: PWC CONSULTING Service code 27 · EIN 92-0385732	Advisory (Plan)	$33,638
THE SEGAL COMPANY4 years Filed as: SEGAL SELECT INSURANCE SERVICES,INC Service code 22 · EIN 46-0619194	Insurance Broker	$25,776
SYNTONIC SYSTEMS, INC.4 years Filed as: SYNTONIC SYSTEMS INC. Service code 16 · EIN 13-2925049	Consulting	$9,396
COMPREHENSIVE CONSULTING SOLUTIONS4 years Service code 16 · EIN 52-2099008	Consulting	$7,236
MASSACHUSETTS MUTUAL LIFE INS. CO.2 years Filed as: MASSACHUSETTS MUTUAL LIFE INS CO. Service code 52 · EIN 04-1590850	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

4 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).

Expense breakdown

Schedule H Part II

Admin total

$1.1M

$52 / participant

Recordkeeping$20K1.9%
Investment mgmt$112K10.3%
Legal$227K20.8%
Other / not subdivided$731K67.0%

% of EOY assets

0.101%

all-in expense ratio

Categories reported

3 / 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: $43,500
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$93,268

$96,393-3.2%

$121,214-23.1%

$96,393-3.2%

Participation rate

48.0%

71.3%-23.3pp

69.5%-21.5pp

71.3%-23.3pp

Annual return

13.80%

22.88%-9.1pp

987.67%-973.9pp

22.88%-9.1pp

Employer contribution / active EE

$2,252

$3,239-30.5%

$4,171-46.0%

$3,239-30.5%

Participant deferral / active EE

$14

$5,455-99.7%

$4,084-99.7%

$5,455-99.7%

Admin fee / account holder

$95

$74+28.1%

$5,647-98.3%

$74+28.1%

Provider

Service type

Compensation

PROSKAUER ROSE LLP8+ years

Service code 29 · EIN 13-1840454

Legal

$113,625

SPIVAK LIPTON LLP8+ years

Service code 29 · EIN 13-3494495

Legal

$113,519

GALLAGHER FIDUCIARY ADVISORS, LLC5 years

Filed as: GALLAGHER FIDUCIARY ADVISORS LLC

Service code 27 · EIN 36-4291971

Advisory (Plan)

$78,829

SCHULTHEIS & PANETTIERI, LLP5 years

Service code 10 · EIN 13-1577780

Accounting

$61,457

PRICEWATERHOUSECOOPERS LLP1 year

Filed as: PWC CONSULTING

Service code 27 · EIN 92-0385732

Advisory (Plan)

$33,638

THE SEGAL COMPANY4 years

Filed as: SEGAL SELECT INSURANCE SERVICES,INC

Service code 22 · EIN 46-0619194

Insurance Broker

$25,776

SYNTONIC SYSTEMS, INC.4 years

Filed as: SYNTONIC SYSTEMS INC.

Service code 16 · EIN 13-2925049

Consulting

$9,396

COMPREHENSIVE CONSULTING SOLUTIONS4 years

Service code 16 · EIN 52-2099008

Consulting

$7,236

MASSACHUSETTS MUTUAL LIFE INS. CO.2 years

Filed as: MASSACHUSETTS MUTUAL LIFE INS CO.

Service code 52 · EIN 04-1590850

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