Retirement plan

LOCAL 8A-28A 401(K) RETIREMENT FUND

Name: BOARD OF TRUSTEES LOCAL 8A-28A 401(K) - LOCAL 8A-28A 401(K) RETIREMENT FUND (2018) Form 5500
Creator: BOARD OF TRUSTEES LOCAL 8A-28A 401(K)
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LOCAL 8A-28A 401(K) RETIREMENT FUND, BOARD OF TRUSTEES LOCAL 8A-28A 401(K)

BOARD OF TRUSTEES LOCAL 8A-28A 401(K)dba RETIREMENT FUNDEIN 13-5652917Plan #001PY 2018

36-18 33RD STREET - LONG ISLAND CITY, NY 111062327718-361-1552

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$45.1M

-2.8% from 2017

Total participants

1,126

+35.8% from 2017

Average account balance

$40,020

-0.3% from 2017

Annual return

-2.53%

-10.74 pp from 2017

Benchmarks

See 286 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort286 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$62.20M

Not enough data

1 years with asset history on file

Average account balance

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

$61K

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.

1,015

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

$4.17M

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

+8.27%

Not enough data

1 years with return on file

Admin fee / account holder

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

$756

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 by compensation

Provider	Service type	Compensation
LOCAL 8A-28A WELFARE FUND4+ years Service code 15 · EIN 13-5624028	Recordkeeping	$65,073
JOSEPH RAMAGLIA2 years Service code 30 · EIN 13-5652917	Employee (plan); Direct payment from ...	$61,364
CAROLYN A. MAYES, CPA1 year Filed as: CAROLYN DIAZ Service code 30 · EIN 13-5652917	Direct payment from the plan; Employe...	$53,584
NOVAK FRANCELLA LLC4+ years Service code 10 · EIN 61-1436956	Accounting	$30,250
BARNES, IACCARINO & SHEPHERD LLP4+ years Service code 29 · EIN 26-3858697	Legal	$23,660
MARSHALL & MOSS PAYROLL COMPLIANCE4+ years Filed as: MARSHALL & MOSS LLP Service code 10 · EIN 11-3360166	Accounting	$23,176
PITTA LLP4+ years Filed as: PITTA & GIBLIN LLP Service code 29 · EIN 26-3852082	Legal	$21,766
TRANSAMERICA RETIREMENT SOLUTIONS2 years Service code 12 · EIN 13-3689044	Participant loan processing; Claims p...	$14,445
MARSHALL & MOSS PAYROLL COMPLIANCE4+ years Service code 10 · EIN 04-3652965	Accounting	$6,642
NATIONAL FINANCIAL SERVICES4+ years Service code 33 · EIN 04-3523567	Securities brokerage commissions and ...	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T

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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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

$365K

$324 / participant

Investment mgmt$14K4.0%
Other / not subdivided$350K96.0%

% of EOY assets

0.809%

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: NOVAK FRANCELLA
Auditor EIN: 611436956
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$40,020

$34,242+16.9%

$76,523-47.7%

$75,289-46.8%

Participation rate

100.0%

43.9%+56.1pp

68.0%+32.0pp

72.4%+27.6pp

Annual return

-2.53%

-0.98%-1.5pp

-0.27%-2.3pp

-0.04%-2.5pp

Employer contribution / active EE

$1,485

$975+52.3%

$2,647-43.9%

$2,405-38.3%

Participant deferral / active EE

$749

$1,872-60.0%

$3,835-80.5%

$3,739-80.0%

Admin fee / account holder

$324

$112+189.3%

$4,848-93.3%

$102+216.5%

Provider

Service type

Compensation

LOCAL 8A-28A WELFARE FUND4+ years

Service code 15 · EIN 13-5624028

Recordkeeping

$65,073

JOSEPH RAMAGLIA2 years

Service code 30 · EIN 13-5652917

Employee (plan); Direct payment from ...

$61,364

CAROLYN A. MAYES, CPA1 year

Filed as: CAROLYN DIAZ

Service code 30 · EIN 13-5652917

Direct payment from the plan; Employe...

$53,584

NOVAK FRANCELLA LLC4+ years

Service code 10 · EIN 61-1436956

Accounting

$30,250

BARNES, IACCARINO & SHEPHERD LLP4+ years

Service code 29 · EIN 26-3858697

Legal

$23,660

MARSHALL & MOSS PAYROLL COMPLIANCE4+ years

Filed as: MARSHALL & MOSS LLP

Service code 10 · EIN 11-3360166

Accounting

$23,176

PITTA LLP4+ years

Filed as: PITTA & GIBLIN LLP

Service code 29 · EIN 26-3852082

Legal

$21,766

TRANSAMERICA RETIREMENT SOLUTIONS2 years

Service code 12 · EIN 13-3689044

Participant loan processing; Claims p...

$14,445

MARSHALL & MOSS PAYROLL COMPLIANCE4+ years

Service code 10 · EIN 04-3652965

Accounting

$6,642

NATIONAL FINANCIAL SERVICES4+ years

Service code 33 · EIN 04-3523567

Securities brokerage commissions and ...

LOCAL 8A-28A 401(K) RETIREMENT FUND

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LOCAL 8A-28A 401(K) RETIREMENT 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