Retirement plan

UPSTATE NEW YORK ENGINEERS PENSION FUND

Name: BD OF TRUST UPSTATE NEW YORK ENGINEERS PENSION FUND - UPSTATE NEW YORK ENGINEERS PENSION FUND (2023) Form 5500
Creator: BD OF TRUST UPSTATE NEW YORK ENGINEERS PENSION FUND
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, UPSTATE NEW YORK ENGINEERS PENSION FUND, BD OF TRUST UPSTATE NEW YORK ENGINEERS PENSION FUND

BD OF TRUST UPSTATE NEW YORK ENGINEERS PENSION FUNDEIN 15-0614642Plan #001PY 2023

101 INTREPID LANE, P.O. BOX 100- COLVIN STATION - SYRACUSE, NY 132050100315-492-1796

Prospect flagsHigh retiree %Low returns

How to read this page

Total assets (EOY)

$323.2M

-6.9% from 2017

Total participants

6,461

+2.8% from 2017

Average account balance

No prior year

Annual return

-4.44%

-12.31 pp from 2017

Benchmarks

See 154 peers

Peer group

Industry23 - Construction

Plan typeDefined benefit

Participants1,000-4,999

Cohort154 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$454.58M

Not enough data

1 years with asset history on file

Average account balance

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

$66K

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.

4,381

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.

0.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$40.02M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+29.45%

Not enough data

1 years with return on file

Admin fee / account holder

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

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

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Service providers

Top 10 of 15 by compensation

Provider	Service type	Compensation
JP MORGAN INVESTMENT MANAGEMENT INC8+ years Filed as: SEI INVESTMENT MANAGEMENT CORP. Service code 21 · EIN 23-1707341	Bank Trustee	$1,477,257
SLEVIN & HART, P.C.7 years Service code 29 · EIN 52-1708613	Legal	$103,425
JOSEPH W. MCCARTHY & ASSOCIATES7 years Service code 10 · EIN 16-1120588	Accounting	$89,317
BOLTON PARTNERS, INC.8+ years Filed as: BOLTON PARTNERS NE, INC. Service code 11 · EIN 27-3666661	Actuarial	$81,400
SCHULTHEIS & PANETTIERI, LLP8+ years Service code 10 · EIN 13-1577780	Accounting	$77,875
BLITMAN & KING8+ years Filed as: BLITMAN & KING, LLP Service code 29 · EIN 16-1047304	Legal	$58,767
PRINCIPAL LIFE INSURANCE COMPANY1 year Filed as: PRINCIPAL Service code 19 · EIN 51-0099493	Securities Custodian	$37,796
UPSTATE ADVISORS GROUP5 years Service code 27 · EIN 16-1540179	Advisory (Plan)	$18,600
ARCARA ZUCARELLI LENDA & ASSOCIATES2 years Filed as: ARCARA, ZUCARELLI, LENDA & ASSOC. Service code 10 · EIN 47-1793720	Accounting	$15,525
LAWLEY RETIREMENT ADVISORS LLC1 year Filed as: LAWLEY SERVICE, INC. Service code 22	Insurance Broker	$12,032

Enrolled actuary

1 attachment

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Plan features & details

Pension benefit codes1B1C

Plan features

1B
Benefits are primarily flat dollar
Benefits are primarily a flat dollar amount (including a dollar amount per year of service).
1C
Cash balance or similar plan
A cash balance formula in a defined benefit plan that expresses the accrued benefit in terms more common to a defined contribution plan such as a hypothetical account balance or single sum amount (includes personal account plan pension equity plan life cycle plan and cash account plan).

Opportunity flags

2 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

Expense breakdown

Schedule H Part II

Admin total

$3.0M

$1565 / participant

Investment mgmt$2M50.5%
Other / not subdivided$2M49.5%

% of EOY assets

0.940%

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: SCHULTHEIS & PANETTIERI, LLP
Auditor EIN: 131577780
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$13,363-100.0%

$473,625-100.0%

$13,363-100.0%

Participation rate

0.0%

0.0%0pp

37.3%-37.3pp

2.2%-2.2pp

Annual return

-4.44%

7.95%-12.4pp

20.18%-24.6pp

9.11%-13.6pp

Employer contribution / active EE

$15,047

$14,684+2.5%

$29,108-48.3%

$12,231+23.0%

Participant deferral / active EE

$520-100.0%

$6-100.0%

$1,272-100.0%

Admin fee / account holder

$125-100.0%

$2,262-100.0%

$125-100.0%

Provider

Service type

Compensation

JP MORGAN INVESTMENT MANAGEMENT INC8+ years

Filed as: SEI INVESTMENT MANAGEMENT CORP.

Service code 21 · EIN 23-1707341

Bank Trustee

$1,477,257

SLEVIN & HART, P.C.7 years

Service code 29 · EIN 52-1708613

Legal

$103,425

JOSEPH W. MCCARTHY & ASSOCIATES7 years

Service code 10 · EIN 16-1120588

Accounting

$89,317

BOLTON PARTNERS, INC.8+ years

Filed as: BOLTON PARTNERS NE, INC.

Service code 11 · EIN 27-3666661

Actuarial

$81,400

SCHULTHEIS & PANETTIERI, LLP8+ years

Service code 10 · EIN 13-1577780

Accounting

$77,875

BLITMAN & KING8+ years

Filed as: BLITMAN & KING, LLP

Service code 29 · EIN 16-1047304

Legal

$58,767

PRINCIPAL LIFE INSURANCE COMPANY1 year

Filed as: PRINCIPAL

Service code 19 · EIN 51-0099493

Securities Custodian

$37,796

UPSTATE ADVISORS GROUP5 years

Service code 27 · EIN 16-1540179

Advisory (Plan)

$18,600

ARCARA ZUCARELLI LENDA & ASSOCIATES2 years

Filed as: ARCARA, ZUCARELLI, LENDA & ASSOC.

Service code 10 · EIN 47-1793720

Accounting

$15,525

LAWLEY RETIREMENT ADVISORS LLC1 year

Filed as: LAWLEY SERVICE, INC.

Service code 22

Insurance Broker

$12,032

UPSTATE NEW YORK ENGINEERS PENSION FUND

Summary metrics

Benchmarksi

Analytics

Service providersi

Enrolled actuary

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

UPSTATE NEW YORK ENGINEERS PENSION FUND

Summary metrics

Benchmarksi

Analytics

Service providersi

Enrolled actuary

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