Retirement plan

ANNUITY FUND OF HEAT AND FROST INSULATORS LOCAL 12

Name: BOARD OF TRUSTEES ANNUITY FUND OF HEAT AND FROST INSULATORS LOCAL 12 - ANNUITY FUND OF HEAT AND FROST INSULATORS LOCAL 12 (2024) Form 5500
Creator: BOARD OF TRUSTEES ANNUITY FUND OF HEAT AND FROST INSULATORS LOCAL 12
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ANNUITY FUND OF HEAT AND FROST INSULATORS LOCAL 12, BOARD OF TRUSTEES ANNUITY FUND OF HEAT AND FROST INSULATORS LOCAL 12

BOARD OF TRUSTEES ANNUITY FUND OF HEAT AND FROST INSULATORS LOCAL 12EIN 13-6101711Plan #001PY 2024

35-53 24TH STREET - LONG ISLAND CITY, NY 11106718-784-8883LinkedIn1-10 employeesinsurance

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$200.6M

+6.6% from 2023

Total participants

724

-1.9% from 2023

Average account balance

$277,017

+8.7% from 2023

Annual return

11.79%

-1.42 pp from 2023

Benchmarks

See 1,563 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,563 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$200.56M

Not enough data

1 years with asset history on file

Average account balance

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

$277K

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.

724

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

$6.50M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+11.79%

Not enough data

1 years with return on file

Admin fee / account holder

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

$858

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 9 by compensation

Provider	Service type	Compensation
AMERICAN REALTY ADVISORS7 years Filed as: MACKAY SHIELDS LLC Service code 28 · EIN 13-5582869	Investment Management	$133,879
PROSKAUER ROSE LLP10+ years Service code 29 · EIN 13-1840454	Legal	$57,854
SCHULTHEIS & PANETTIERI, LLP10+ years Service code 10 · EIN 13-1577780	Accounting	$56,000
JOHN HANCOCK LIFE INSURANCE COMPANY9 years Filed as: JOHN HANCOCK RETIREMENT PLAN SRVCS Service code 28 · EIN 01-0233346	Investment Management	$48,864
COLLERAN, O'HARA & MILLS LLP8 years Filed as: COLLERAN O'HARA & MILLS LLP Service code 29 · EIN 11-2940050	Legal	$48,239
REYNOLDS CONSULTING SERVICES1 year Filed as: REYNOLDS CONSULTING SERVICES LLC Service code 27 · EIN 20-1899564	Advisory (Plan)	$33,137
BMO HARRIS BANK NA1 year Filed as: M&T BANK Service code 19 · EIN 16-0538020	Securities Custodian	$30,627
ZENITH AMERICAN SOLUTIONS2 years Service code 14 · EIN 52-1590516	Plan Administrator	$10,620
MATRIX TRUST COMPANY9 years Service code 51 · EIN 75-3182674	Investment Mgmt Fees	$8,000

Plan features & details

Pension benefit codes2E2F2G

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.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$621K

$1347 / participant

Trustee / custodial$275K44.3%
Investment mgmt$33K5.3%
Legal$106K17.1%
Contract admin$11K1.7%
Other / not subdivided$196K31.6%

% of EOY assets

0.310%

all-in expense ratio

Categories reported

4 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: SCHULTHEIS & PANETTIERI, LLP
Auditor EIN: 131577780
Audit fees: $56,000
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$277,017

$82,979+233.8%

$102,412+170.5%

$77,736+256.4%

Participation rate

100.0%

71.5%+28.5pp

74.5%+25.5pp

70.6%+29.4pp

Annual return

11.79%

19.11%-7.3pp

24.94%-13.2pp

31.26%-19.5pp

Employer contribution / active EE

$14,100

$3,554+296.8%

$3,870+264.3%

$2,728+416.9%

Participant deferral / active EE

$4,109-100.0%

$5,060-100.0%

$4,651-100.0%

Admin fee / account holder

$858

$639+34.3%

$8,388-89.8%

$433+98.0%

Provider

Service type

Compensation

AMERICAN REALTY ADVISORS7 years

Filed as: MACKAY SHIELDS LLC

Service code 28 · EIN 13-5582869

Investment Management

$133,879

PROSKAUER ROSE LLP10+ years

Service code 29 · EIN 13-1840454

Legal

$57,854

SCHULTHEIS & PANETTIERI, LLP10+ years

Service code 10 · EIN 13-1577780

Accounting

$56,000

JOHN HANCOCK LIFE INSURANCE COMPANY9 years

Filed as: JOHN HANCOCK RETIREMENT PLAN SRVCS

Service code 28 · EIN 01-0233346

Investment Management

$48,864

COLLERAN, O'HARA & MILLS LLP8 years

Filed as: COLLERAN O'HARA & MILLS LLP

Service code 29 · EIN 11-2940050

Legal

$48,239

REYNOLDS CONSULTING SERVICES1 year

Filed as: REYNOLDS CONSULTING SERVICES LLC

Service code 27 · EIN 20-1899564

Advisory (Plan)

$33,137

BMO HARRIS BANK NA1 year

Filed as: M&T BANK

Service code 19 · EIN 16-0538020

Securities Custodian

$30,627

ZENITH AMERICAN SOLUTIONS2 years

Service code 14 · EIN 52-1590516

Plan Administrator

$10,620

MATRIX TRUST COMPANY9 years

Service code 51 · EIN 75-3182674

Investment Mgmt Fees

$8,000

ANNUITY FUND OF HEAT AND FROST INSULATORS LOCAL 12

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ANNUITY FUND OF HEAT AND FROST INSULATORS LOCAL 12

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