Retirement plan

PLUMBERS LOCAL UNION NO. 1 EMPLOYEE 401(K) SAVINGS PLAN

Name: PLUMBERS LOCAL UNION NO. 1 EMPLOYEE 401(K) SAVINGS PLAN - PLUMBERS LOCAL UNION NO. 1 EMPLOYEE 401(K) SAVINGS PLAN (2024) Form 5500
Creator: PLUMBERS LOCAL UNION NO. 1 EMPLOYEE 401(K) SAVINGS PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PLUMBERS LOCAL UNION NO. 1 EMPLOYEE 401(K) SAVINGS PLAN, PLUMBERS LOCAL UNION NO. 1 EMPLOYEE 401(K) SAVINGS PLAN

PLUMBERS LOCAL UNION NO. 1 EMPLOYEE 401(K) SAVINGS PLANEIN 13-3877439Plan #003PY 2024

50-02 5TH STREET, 2ND FLOOR - LONG ISLAND CITY, NY 111015706718-835-2700LinkedIn5001-10000 employeesindividual & family services

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$961.3M

-13.3% from 2016

Total participants

5,695

+4.5% from 2016

Average account balance

$200,853

No prior year

Annual return

12.78%

-9.62 pp from 2016

Benchmarks

See 80 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants5,000-9,999

Cohort80 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$961.28M

Not enough data

1 years with asset history on file

Average account balance

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

$201K

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.

4,786

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.

82.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$51.37M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+12.78%

Not enough data

1 years with return on file

Admin fee / account holder

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

$346

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 26 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 13 · EIN 84-0467907	Contract Administrator	$197,034
O'DONOGHUE & O'DONOGHUE10+ years Filed as: O'DONOGHUE & O'DONOGHUE LLP Service code 29 · EIN 53-0120528	Legal	$109,430
LINDA HOOD6 years Filed as: LINDA SCARPA Service code 30 · EIN 13-3877439	Direct payment from the plan; Employe...	$106,674
MARIA DANYLUK6 years Filed as: MARIA FROGIERO Service code 30 · EIN 13-3877439	Employee (plan); Direct payment from ...	$99,135
ANAPA TRISTA GEORGE-CUMMINGS2 years Service code 30 · EIN 13-3877439	Direct payment from the plan; Employe...	$88,003
ROSA MARIA TONEATTO2 years Filed as: ROSA BERTOLINI Service code 30 · EIN 13-3877439	Employee (plan); Direct payment from ...	$86,783
ERICKA SIMPSON2 years Service code 30 · EIN 13-3877439	Direct payment from the plan; Employe...	$86,623
LAURIE HAND2 years Filed as: LAURIE KILLIEBREW Service code 30 · EIN 13-3877439	Direct payment from the plan; Employe...	$83,919
DIANA SALESKY2 years Filed as: DIANA PETRACCIONE Service code 30 · EIN 13-3877439	Direct payment from the plan; Employe...	$83,301
WENDY WEISS8 years Filed as: WENDY SALVATIERRA Service code 30 · EIN 13-3877439	Employee (plan); Direct payment from ...	$80,185

Plan features & details

Pension benefit codes2E2G2J

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.
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.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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

$1.7M

$314 / participant

Recordkeeping$67K4.0%
Investment mgmt$40K2.4%
Legal$197K11.9%
Salaries / allowances$781K47.2%
Other trustee fees$9880.1%
Contract admin$197K11.9%
Other / not subdivided$373K22.5%

% of EOY assets

0.172%

all-in expense ratio

Categories reported

6 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: NOVAK FRANCELLA, LLC
Auditor EIN: 611436956
Audit fees: $25,247
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$200,853

$86,936+131.0%

$102,437+96.1%

$99,313+102.2%

Participation rate

82.8%

81.7%+1.1pp

74.5%+8.3pp

71.7%+11.1pp

Annual return

12.78%

14.99%-2.2pp

24.95%-12.2pp

17.67%-4.9pp

Employer contribution / active EE

$5,689

$3,925+44.9%

$3,871+47.0%

$3,264+74.3%

Participant deferral / active EE

$4,044

$3,825+5.7%

$5,060-20.1%

$5,346-24.4%

Admin fee / account holder

$346

$140+146.6%

$8,388-95.9%

$109+217.0%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 13 · EIN 84-0467907

Contract Administrator

$197,034

O'DONOGHUE & O'DONOGHUE10+ years

Filed as: O'DONOGHUE & O'DONOGHUE LLP

Service code 29 · EIN 53-0120528

Legal

$109,430

LINDA HOOD6 years

Filed as: LINDA SCARPA