Retirement plan

SHEET METAL WORKERS LOCAL 28 STAFF 401(K) PLAN

Name: SHEET METAL WORKERS LOCAL 28 FUNDS - SHEET METAL WORKERS LOCAL 28 STAFF 401(K) PLAN (2024) Form 5500
Creator: SHEET METAL WORKERS LOCAL 28 FUNDS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SHEET METAL WORKERS LOCAL 28 STAFF 401(K) PLAN, SHEET METAL WORKERS LOCAL 28 FUNDS

SHEET METAL WORKERS LOCAL 28 FUNDSEIN 13-5530847Plan #001PY 2024

195 MINEOLA BLVD - MINEOLA, NY 11501516-742-9478LinkedIn11-50 employeescivic & social organization

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$4.6M

+23.6% from 2023

Total participants

+12.7% from 2023

Average account balance

$80,960

+25.8% from 2023

Annual return

13.05%

-1.05 pp from 2023

Benchmarks

See 10,657 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants25-99

Cohort10,657 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.61M

Not enough data

1 years with asset history on file

Average account balance

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

$81K

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.

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.

78.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$587K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+13.05%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3372

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$192K

$2633 / participant

Other / not subdivided$192K100.0%

% of EOY assets

4.165%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$80,960

$58,275+38.9%

$81,844-1.1%

$80,9350%

Participation rate

68.5%

63.5%+5.0pp

72.4%-3.9pp

67.7%+0.8pp

Annual return

13.05%

41.82%-28.8pp

778.87%-765.8pp

35.66%-22.6pp

Employer contribution / active EE

$2,497

$2,346+6.5%

$2,916-14.4%

$2,757-9.4%

Participant deferral / active EE

$5,542

$3,285+68.7%

$4,323+28.2%

$4,299+28.9%

Admin fee / account holder

$3,372

$4,749-29.0%

$7,355-54.2%

$6,924-51.3%

SHEET METAL WORKERS LOCAL 28 STAFF 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SHEET METAL WORKERS LOCAL 28 STAFF 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