Retirement plan

LOCAL 52 401 (K) PLAN

Name: BOARD OF TRUSTEES OF LOCAL 52 - LOCAL 52 401 (K) PLAN (2021) 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 2021

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

Prospect flagsLow returnsFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$486.7M

-12.8% from 2016

Total participants

5,623

-6.5% from 2016

Average account balance

$93,229

-6.2% from 2016

Annual return

13.99%

-5.68 pp from 2016

Benchmarks

See 97 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants5,000-9,999

Cohort97 peers

Snapshot2021

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

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Service providers

Top 10 of 19 by compensation

Provider	Service type	Compensation
ADMINISTRATIVE SERVICES ONLY7+ years Service code 13 · EIN 11-2995970 303 MERRICK ROAD · LYNBROOK, NY 11563	Contract Administrator	$42,000
SPIVAK LIPTON LLP7+ years Filed as: SPIVAK LIPTON, LLP Service code 29 · EIN 13-3494495 1700 BROADWAY · NEW YORK, NY 10019	Legal	$35,046
THE SEGAL COMPANY1 year Filed as: SEGAL MARCO ADVISORS Service code 27 333 WEST 34TH STREET · NEW YORK, NY 10001	Advisory (Plan)	$27,035
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: GREAT WEST LIFE & ANNUITY INSURANCE Service code 52 · EIN 84-0467907	Indirect Investment Fees	$26,312
GOULD, KOBRICK & SCHLAPP, P.C.7+ years Service code 10 · EIN 13-3082707 192 LEXINGTON AVE · NEW YORK, NY 10016	Accounting	$18,422
KOBGO ASSOCIATES5 years Filed as: KOBGO ASSOCIATES INC Service code 10 · EIN 13-2751089 192 LEXINGTON AVE · NEW YORK, NY 10016	Accounting	$10,160
BLACKROCK1 year Service code 52 · EIN 04-6171663	Indirect Investment Fees	$0
BLACKROCK1 year Filed as: BLACKROCK 04-6171663 Service code 52	Indirect Investment Fees	$0
CALVERT4 years Service code 52 · EIN 52-1233223	Indirect Investment Fees	$0
CALVERT5 years Filed as: CALVERT 52-1233223 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 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).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$224K

$40 / participant

Investment mgmt$27K12.1%
Contract admin$68K30.5%
Other / not subdivided$129K57.4%

% of EOY assets

0.046%

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

$93,229

$136,780-31.8%

$189,534-50.8%

$101,555-8.2%

Participation rate

92.8%

90.9%+1.9pp

87.8%+5.0pp

74.5%+18.2pp

Annual return

13.99%

37.00%-23.0pp

555.39%-541.4pp

21.00%-7.0pp

Employer contribution / active EE

$4,857-100.0%

$6,162-100.0%

$2,972-100.0%

Participant deferral / active EE

$5,460

$7,572-27.9%

$8,220-33.6%

$4,874+12.0%

Admin fee / account holder

$43

$64-33.1%

$12,049-99.6%

$139-69.2%

Provider

Service type

Compensation

ADMINISTRATIVE SERVICES ONLY7+ years

Service code 13 · EIN 11-2995970

303 MERRICK ROAD · LYNBROOK, NY 11563

Contract Administrator

$42,000

SPIVAK LIPTON LLP7+ years

Filed as: SPIVAK LIPTON, LLP

Service code 29 · EIN 13-3494495

1700 BROADWAY · NEW YORK, NY 10019

Legal

$35,046

THE SEGAL COMPANY1 year

Filed as: SEGAL MARCO ADVISORS

Service code 27

333 WEST 34TH STREET · NEW YORK, NY 10001

Advisory (Plan)

$27,035

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: GREAT WEST LIFE & ANNUITY INSURANCE

Service code 52 · EIN 84-0467907

Indirect Investment Fees

$26,312

GOULD, KOBRICK & SCHLAPP, P.C.7+ years

Service code 10 · EIN 13-3082707

192 LEXINGTON AVE · NEW YORK, NY 10016

Accounting

$18,422

KOBGO ASSOCIATES5 years

Filed as: KOBGO ASSOCIATES INC

Service code 10 · EIN 13-2751089

192 LEXINGTON AVE · NEW YORK, NY 10016

Accounting

$10,160

BLACKROCK1 year

Service code 52 · EIN 04-6171663

Indirect Investment Fees

BLACKROCK1 year

Filed as: BLACKROCK 04-6171663

Service code 52

Indirect Investment Fees

CALVERT4 years

Service code 52 · EIN 52-1233223

Indirect Investment Fees

CALVERT5 years

Filed as: CALVERT 52-1233223

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