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 (2023) 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 2023

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)

$873.1M

-13.3% from 2016

Total participants

4,960

+4.5% from 2016

Average account balance

$176,033

No prior year

Annual return

16.77%

-9.62 pp from 2016

Benchmarks

See 531 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort531 peers

Snapshot2023

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

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

Service providers

Top 10 of 22 by compensation

Provider	Service type	Compensation
PRUDENTIAL RETIREMENT INSURANCE AND6 years Service code 13 · EIN 06-1050034	Contract Administrator	$204,125
WALTER SARACENI9+ years Service code 30 · EIN 13-3877439	Employee (plan); Direct payment from ...	$100,405
SCHULTHEIS & PANETTIERI, LLP2 years Filed as: SCHULTHEIS & PANETTIERI LLP Service code 10 · EIN 13-1577780	Accounting	$95,971
WENDY WEISS7 years Filed as: WENDY SALVATIERRA Service code 30 · EIN 13-3877439	Employee (plan); Direct payment from ...	$74,051
GLORIA CANCELLIERE7 years Filed as: GLORIA MATERON Service code 30 · EIN 13-3877439	Employee (plan); Direct payment from ...	$68,756
VIRGINIA & AMBINDER, LLP9+ years Service code 29 · EIN 13-4166736	Legal	$63,885
O'DONOGHUE & O'DONOGHUE9+ years Filed as: O'DONOGHUE & O'DONOGHUE LLP Service code 29 · EIN 53-0120528	Legal	$51,852
MEKETA INVESTMENT GROUP9+ years Filed as: MEKETA INVESTMENT GROUP INC Service code 17 · EIN 04-2659023	Pension Consulting	$40,000
PREMIER TECHNOLOGY SOLUTIONS2 years Filed as: PREMIER TECHNOLOGY SOLUTIONS, INC. Service code 15 · EIN 13-3933805	Recordkeeping	$31,531
LINDA HOOD5 years Filed as: LINDA SCARPA Service code 30 · EIN 13-3877439	Employee (plan); Direct payment from ...	$30,743

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

$1.5M

$329 / participant

Recordkeeping$99K6.5%
Investment mgmt$40K2.6%
Legal$133K8.7%
Salaries / allowances$688K45.1%
Other trustee fees$8220.1%
Contract admin$204K13.4%
Other / not subdivided$361K23.7%

% of EOY assets

0.175%

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: $24,045
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$176,033

$88,479+99.0%

$96,543+82.3%

$80,187+119.5%

Participation rate

100.0%

79.9%+20.1pp

74.3%+25.7pp

72.9%+27.1pp

Annual return

16.77%

22.53%-5.8pp

35.75%-19.0pp

40.40%-23.6pp

Employer contribution / active EE

$6,629

$4,177+58.7%

$3,741+77.2%

$2,980+122.5%

Participant deferral / active EE

$4,681

$3,961+18.2%

$4,880-4.1%

$5,016-6.7%

Admin fee / account holder

$308

$211+45.5%

$6,737-95.4%

$145+112.1%

Provider

Service type

Compensation

PRUDENTIAL RETIREMENT INSURANCE AND6 years

Service code 13 · EIN 06-1050034

Contract Administrator

$204,125

WALTER SARACENI9+ years

Service code 30 · EIN 13-3877439

Employee (plan); Direct payment from ...

$100,405

SCHULTHEIS & PANETTIERI, LLP2 years

Filed as: SCHULTHEIS & PANETTIERI LLP

Service code 10 · EIN 13-1577780

Accounting

$95,971

WENDY WEISS7 years

Filed as: WENDY SALVATIERRA

Service code 30 · EIN 13-3877439

Employee (plan); Direct payment from ...

$74,051

GLORIA CANCELLIERE7 years

Filed as: GLORIA MATERON

Service code 30 · EIN 13-3877439

Employee (plan); Direct payment from ...

$68,756

VIRGINIA & AMBINDER, LLP9+ years

Service code 29 · EIN 13-4166736

Legal

$63,885

O'DONOGHUE & O'DONOGHUE9+ years

Filed as: O'DONOGHUE & O'DONOGHUE LLP

Service code 29 · EIN 53-0120528

Legal

$51,852

MEKETA INVESTMENT GROUP9+ years

Filed as: MEKETA INVESTMENT GROUP INC

Service code 17 · EIN 04-2659023

Pension Consulting

$40,000

PREMIER TECHNOLOGY SOLUTIONS2 years

Filed as: PREMIER TECHNOLOGY SOLUTIONS, INC.

Service code 15 · EIN 13-3933805

Recordkeeping

$31,531

LINDA HOOD5 years

Filed as: LINDA SCARPA

Service code 30 · EIN 13-3877439

Employee (plan); Direct payment from ...

$30,743

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

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

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