Retirement plan

CONSTRUCTION INDUSTRY 401K PLAN

Name: BUILDERS EXCHANGE OF THE SOUTHERN TIER, INC. - CONSTRUCTION INDUSTRY 401K PLAN (2023) Form 5500
Creator: BUILDERS EXCHANGE OF THE SOUTHERN TIER, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CONSTRUCTION INDUSTRY 401K PLAN, BUILDERS EXCHANGE OF THE SOUTHERN TIER, INC.

BUILDERS EXCHANGE OF THE SOUTHERN TIER, INC.EIN 16-0810649Plan #333PY 2023

65 E MAIN STREET - FALCONER, NY 147331336716-665-4026bxstier.comLinkedIn1-10 employees

Other plans on this EIN

1 filing

#002Retirement-$17.9M assets

Prospect flagsHigh feesFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$11.7M

+13.1% from 2022

Total participants

202

+2.5% from 2022

Average account balance

$64,777

+8.7% from 2022

Annual return

16.98%

+36.18 pp from 2022

Benchmarks

See 3,251 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort3,251 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$12.45M

Not enough data

1 years with asset history on file

Average account balance

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

$65K

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.

192

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.

83.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$663K

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

+12.89%

Not enough data

1 years with return on file

Admin fee / account holder

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

$764

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 6 by compensation

Provider	Service type	Compensation
TRANSAMERICA RETIREMENT SOLUTIONS3 years Filed as: TRANSAMERICA FINANCIAL LIFE INSURAN Service code 15 · EIN 36-6071399	Recordkeeping	$89,739
3(16) FIDUCIARY SERVICES CORP6 years Filed as: 3(16) FIDUCIARY SERVICES CORPORATIO Service code 14 · EIN 45-4813650	Plan Administrator	$10,530
TRONCONI SEGARRA & ASSOCIATES4 years Service code 10 · EIN 04-3728817	Accounting	$8,100
PINNACLE FINANCIAL SERVICES, INC.5 years Filed as: PINNACLE FINANCIAL SERVICES, INC Service code 15 · EIN 59-2438373	Recordkeeping	$7,206
BUILDERS EXCHANGE OF SOUTHERN TIER2 years Service code 35 · EIN 16-0810649	Employee (plan sponsor)	$6,144
LIPSITZ GREEN SCIME & CAMBRIA8 years Filed as: LIPSITZ GREEN SCIME CAMBRIA Service code 29 · EIN 16-0905097	Legal	$3,851

Plan features & details

Pension benefit codes2E2F2G2J2K2A3D3H2U

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 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).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$132K

$986 / participant

Investment mgmt$103K78.2%
Legal$4K2.9%
Contract admin$6K4.6%
Other / not subdivided$19K14.3%

% of EOY assets

1.133%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: TRONCONI SEGARRA & ASSOCIATES, LLP
Auditor EIN: 043728817
Audit fees: $8,300
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$64,777

$76,696-15.5%

$96,515-32.9%

$71,511-9.4%

Participation rate

83.6%

66.6%+17.0pp

74.3%+9.2pp

67.9%+15.6pp

Annual return

16.98%

48.32%-31.3pp

35.73%-18.8pp

28.86%-11.9pp

Employer contribution / active EE

$1,791

$3,032-40.9%

$3,740-52.1%

$2,589-30.8%

Participant deferral / active EE

$3,110

$3,770-17.5%

$4,880-36.3%

$4,291-27.5%

Admin fee / account holder

$734

$2,030-63.8%

$6,735-89.1%

$1,588-53.8%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS3 years

Filed as: TRANSAMERICA FINANCIAL LIFE INSURAN

Service code 15 · EIN 36-6071399

Recordkeeping

$89,739

3(16) FIDUCIARY SERVICES CORP6 years

Filed as: 3(16) FIDUCIARY SERVICES CORPORATIO

Service code 14 · EIN 45-4813650

Plan Administrator

$10,530

TRONCONI SEGARRA & ASSOCIATES4 years

Service code 10 · EIN 04-3728817

Accounting

$8,100

PINNACLE FINANCIAL SERVICES, INC.5 years

Filed as: PINNACLE FINANCIAL SERVICES, INC

Service code 15 · EIN 59-2438373

Recordkeeping

$7,206

BUILDERS EXCHANGE OF SOUTHERN TIER2 years

Service code 35 · EIN 16-0810649

Employee (plan sponsor)

$6,144

LIPSITZ GREEN SCIME & CAMBRIA8 years

Filed as: LIPSITZ GREEN SCIME CAMBRIA

Service code 29 · EIN 16-0905097

Legal

$3,851

CONSTRUCTION INDUSTRY 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CONSTRUCTION INDUSTRY 401K 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