Retirement plan

FIREMEN'S ASSOCIATION OF THE STATE OF NEW YORK 401(K) RETIREMENT PLAN

Name: FIREMENS ASSOCIATION OF THE STATE OF NEW YORK - FIREMEN'S ASSOCIATION OF THE STATE OF NEW YORK 401(K) RETIREMENT PLAN (2021) Form 5500
Creator: FIREMENS ASSOCIATION OF THE STATE OF NEW YORK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIREMEN'S ASSOCIATION OF THE STATE OF NEW YORK 401(K) RETIREMENT PLAN, FIREMENS ASSOCIATION OF THE STATE OF NEW YORK

FIREMENS ASSOCIATION OF THE STATE OF NEW YORKEIN 13-5604180Plan #002PY 2021

107 WASHINGTON AVENUE - ALBANY, NY 12210518-434-0987LinkedIn201-500 employeescivic & social organization

Other plans on this EIN

1 filing

#001Retirement-$1.8M assets

Prospect flagsLow returnsFailed to transmit contributions

How to read this page

Total assets (EOY)

$3.6M

-12.1% from 2020

Total participants

179

+7.8% from 2020

Average account balance

$20,073

-18.5% from 2020

Annual return

8.75%

-4.60 pp from 2020

Benchmarks

See 1,682 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants100-249

Cohort1,682 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.96M

Not enough data

1 years with asset history on file

Average account balance

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

$29K

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.

207

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.

99.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$777K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+14.56%

Not enough data

1 years with return on file

Admin fee / account holder

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

$166

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 2 by compensation

Provider	Service type	Compensation
TRANSAMERICA RETIREMENT SOLUTIONS7+ years Filed as: TRANSAMERICA FINANCIAL LIFE INS CO Service code 15 · EIN 36-6071399	Recordkeeping	$23,290
LPL FINANCIAL7+ years Filed as: LPL FINANCIAL CORPORATION Service code 22 · EIN 95-2834236	Insurance Broker	$0

Plan features & details

Pension benefit codes2E2F2G2J2K

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.

Opportunity flags

2 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).

Expense breakdown

Schedule H Part II

Admin total

$23K

$222 / participant

Investment mgmt$23K100.0%

% of EOY assets

0.648%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CARON & BLETZER, PLLC
Auditor EIN: 043499945
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$20,073

$63,768-68.5%

$98,483-79.6%

$79,391-74.7%

Participation rate

100.0%

69.9%+30.1pp

73.3%+26.7pp

70.7%+29.3pp

Annual return

8.75%

626.18%-617.4pp

1494.38%-1485.6pp

116.88%-108.1pp

Employer contribution / active EE

$3,173

$2,558+24.1%

$2,961+7.2%

$2,428+30.7%

Participant deferral / active EE

$2,503

$3,305-24.3%

$4,276-41.5%

$4,046-38.1%

Admin fee / account holder

$130

$516-74.8%

$5,953-97.8%

$627-79.2%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS7+ years

Filed as: TRANSAMERICA FINANCIAL LIFE INS CO

Service code 15 · EIN 36-6071399

Recordkeeping

$23,290

LPL FINANCIAL7+ years

Filed as: LPL FINANCIAL CORPORATION

Service code 22 · EIN 95-2834236

Insurance Broker

FIREMEN'S ASSOCIATION OF THE STATE OF NEW YORK 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIREMEN'S ASSOCIATION OF THE STATE OF NEW YORK 401(K) RETIREMENT 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