Retirement plan

LOCAL 52 401 (K) PLAN

Name: BOARD OF TRUSTEES OF LOCAL 52 - LOCAL 52 401 (K) PLAN (2020) Form 5500
Creator: BOARD OF TRUSTEES OF LOCAL 52
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LOCAL 52 401 (K) PLAN, BOARD OF TRUSTEES OF LOCAL 52

BOARD OF TRUSTEES OF LOCAL 52EIN 13-4059105Plan #005PY 2020

303 MERRICK ROAD SUITE 300 - LYNBROOK, NY 115632514877-999-3555

Prospect flagsLow participant contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$410.8M

-12.8% from 2016

Total participants

5,322

-6.5% from 2016

Average account balance

$82,415

-6.2% from 2016

Annual return

15.00%

-5.68 pp from 2016

Benchmarks

See 88 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants5,000-9,999

Cohort88 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$561.41M

Not enough data

1 years with asset history on file

Average account balance

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

$100K

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.

5,606

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$28.54M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+13.23%

Not enough data

1 years with return on file

Admin fee / account holder

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

$94

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 15 by compensation

Provider	Service type	Compensation
ADMINISTRATIVE SERVICES ONLY6+ years Service code 13 · EIN 11-2995970 303 MERRICK ROAD · LYNBROOK, NY 11563	Contract Administrator	$42,000
SPIVAK LIPTON LLP6+ years Filed as: SPIVAK LIPTON, LLP Service code 29 · EIN 13-3494495 1700 BROADWAY · NEW YORK, NY 10019	Legal	$35,185
KOBGO ASSOCIATES4 years Filed as: KOBGO ASSOCIATES INC Service code 10 · EIN 13-2751089	Accounting	$32,820
GOULD, KOBRICK & SCHLAPP, P.C.6+ years Service code 10 · EIN 13-3082707 3 PARK AVENUE · NEW YORK, NY 10016	Accounting	$22,050
MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years Service code 52 · EIN 04-1590850	Indirect Investment Fees	$21,982
CALVERT3 years Service code 52 · EIN 52-1233223	Indirect Investment Fees	$0
CALVERT4 years Filed as: CALVERT 52-1233223 Service code 52	Indirect Investment Fees	$0
JANUS HENDERSON3 years Service code 52 · EIN 84-0592523	Indirect Investment Fees	$0
JANUS HENDERSON3 years Filed as: JANUS HENDERSON 84-0592523 Service code 52	Indirect Investment Fees	$0
MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years Filed as: MASSACHUSETTS MUTUAL LIFE INS. CO 0 Service code 52	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2F2G2J2T

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

3 tripped

OpportunityLow participant contribution
Participant contribution per participant 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).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$245K

$47 / participant

Investment mgmt$29K11.7%
Contract admin$64K26.1%
Other / not subdivided$153K62.2%

% of EOY assets

0.060%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: GOULD, KOBRICK & SCHLAPP, P.C.
Auditor EIN: 133082707
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$82,415

$122,602-32.8%

$177,839-53.7%

$93,223-11.6%

Participation rate

93.6%

91.3%+2.3pp

87.7%+5.9pp

74.9%+18.7pp

Annual return

15.00%

22.53%-7.5pp

48.33%-33.3pp

19.29%-4.3pp

Employer contribution / active EE

$4,338-100.0%

$5,919-100.0%

$2,680-100.0%

Participant deferral / active EE

$3,623

$7,134-49.2%

$7,714-53.0%

$4,563-20.6%

Admin fee / account holder

$49

$62-20.1%

$12,432-99.6%

$79-37.8%

Provider

Service type

Compensation

ADMINISTRATIVE SERVICES ONLY6+ years

Service code 13 · EIN 11-2995970

303 MERRICK ROAD · LYNBROOK, NY 11563

Contract Administrator

$42,000

SPIVAK LIPTON LLP6+ years

Filed as: SPIVAK LIPTON, LLP

Service code 29 · EIN 13-3494495

1700 BROADWAY · NEW YORK, NY 10019

Legal

$35,185

KOBGO ASSOCIATES4 years

Filed as: KOBGO ASSOCIATES INC

Service code 10 · EIN 13-2751089

Accounting

$32,820

GOULD, KOBRICK & SCHLAPP, P.C.6+ years

Service code 10 · EIN 13-3082707

3 PARK AVENUE · NEW YORK, NY 10016

Accounting

$22,050

MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$21,982

CALVERT3 years

Service code 52 · EIN 52-1233223

Indirect Investment Fees

CALVERT4 years

Filed as: CALVERT 52-1233223

Service code 52

Indirect Investment Fees

JANUS HENDERSON3 years

Service code 52 · EIN 84-0592523

Indirect Investment Fees

JANUS HENDERSON3 years

Filed as: JANUS HENDERSON 84-0592523

Service code 52

Indirect Investment Fees

MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years

Filed as: MASSACHUSETTS MUTUAL LIFE INS. CO 0

Service code 52

Indirect Investment Fees

LOCAL 52 401 (K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LOCAL 52 401 (K) 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