Retirement plan

LOCAL 52 401 (K) FUND

Name: BOARD OF TRUSTEES OF LOCAL 52 - LOCAL 52 401 (K) FUND (2023) 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) FUND, BOARD OF TRUSTEES OF LOCAL 52

BOARD OF TRUSTEES OF LOCAL 52EIN 13-4059105Plan #005PY 2023

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)

$493.8M

-12.8% from 2016

Total participants

5,544

-6.5% from 2016

Average account balance

$89,071

-6.2% from 2016

Annual return

17.60%

-5.68 pp from 2016

Benchmarks

See 94 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants5,000-9,999

Cohort94 peers

Snapshot2023

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 7 by compensation

Provider	Service type	Compensation
SPIVAK LIPTON LLP9+ years Filed as: SPIVAK LIPTON, LLP Service code 29 · EIN 13-3494495 1700 BROADWAY · NEW YORK, NY 10019	Legal	$87,942
ADMINISTRATIVE SERVICES ONLY9+ years Service code 13 · EIN 11-2995970 303 MERRICK ROAD · LYNBROOK, NY 11563	Contract Administrator	$42,000
GOULD, KOBRICK & SCHLAPP, P.C.9+ years Service code 10 · EIN 13-3082707 192 LEXINGTON AVE · NEW YORK, NY 10016	Accounting	$31,788
THE SEGAL COMPANY3 years Filed as: SEGAL MARCO ADVISORS Service code 27 333 WEST 34TH STREET · NEW YORK, NY 10001	Advisory (Plan)	$31,261
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER LIFE & ANNUITY INSURANCE Service code 64 · EIN 84-0467907 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$31,038
THE SEGAL COMPANY1 year Service code 70 · EIN 13-1835864 333 W 34TH STREET · NEW YORK, NY 10001	Consulting Fees	$27,881
KOBGO ASSOCIATES7 years Filed as: KOBGO ASSOCIATES INC Service code 10 · EIN 13-2751089 192 LEXINGTON AVE · NEW YORK, NY 10016	Accounting	$5,720

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

$340K

$63 / participant

Recordkeeping$6K1.7%
Trustee / custodial$31K9.1%
Investment mgmt$31K9.2%
Legal$88K25.8%
Contract admin$42K12.3%
Other / not subdivided$142K41.8%

% of EOY assets

0.069%

all-in expense ratio

Categories reported

5 / 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: $31,788
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$89,071

$129,756-31.4%

$170,055-47.6%

$103,657-14.1%

Participation rate

100.0%

91.3%+8.7pp

87.0%+13.0pp

73.4%+26.6pp

Annual return

17.60%

20.17%-2.6pp

53.43%-35.8pp

33.13%-15.5pp

Employer contribution / active EE

$5,236-100.0%

$6,790-100.0%

$3,216-100.0%

Participant deferral / active EE

$3,272

$8,283-60.5%

$10,410-68.6%

$5,218-37.3%

Admin fee / account holder

$61

$73-15.7%

$12,828-99.5%

$114-46.2%

Provider

Service type

Compensation

SPIVAK LIPTON LLP9+ years

Filed as: SPIVAK LIPTON, LLP

Service code 29 · EIN 13-3494495

1700 BROADWAY · NEW YORK, NY 10019

Legal

$87,942

ADMINISTRATIVE SERVICES ONLY9+ years

Service code 13 · EIN 11-2995970

303 MERRICK ROAD · LYNBROOK, NY 11563

Contract Administrator

$42,000

GOULD, KOBRICK & SCHLAPP, P.C.9+ years

Service code 10 · EIN 13-3082707

192 LEXINGTON AVE · NEW YORK, NY 10016

Accounting

$31,788

THE SEGAL COMPANY3 years

Filed as: SEGAL MARCO ADVISORS

Service code 27

333 WEST 34TH STREET · NEW YORK, NY 10001

Advisory (Plan)

$31,261

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER LIFE & ANNUITY INSURANCE

Service code 64 · EIN 84-0467907

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$31,038

THE SEGAL COMPANY1 year

Service code 70 · EIN 13-1835864

333 W 34TH STREET · NEW YORK, NY 10001

Consulting Fees

$27,881

KOBGO ASSOCIATES7 years

Filed as: KOBGO ASSOCIATES INC

Service code 10 · EIN 13-2751089

192 LEXINGTON AVE · NEW YORK, NY 10016

Accounting

$5,720

LOCAL 52 401 (K) FUND

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LOCAL 52 401 (K) FUND

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