Retirement plan

SERVICE EMPLOYEES PENSION FUND OF UPSTATE NY UPSTATE NEW YORK

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

SERVICE EMPLOYEES PENSION FUND OF UPSTATE NYEIN 16-0908576Plan #001PY 2023

701 ERIE BLVD WEST - SYRACUSE, NY 132042225315-424-1754LinkedIn5001-10000 employeestelecommunications

Prospect flagsHigh retiree %Low employer contribution

How to read this page

Total assets (EOY)

$215.6M

+10.6% from 2022

Total participants

9,043

+1.3% from 2022

Average account balance

No prior year

Annual return

11.67%

+22.66 pp from 2022

Benchmarks

See 831 peers

Peer group

Industryany (size+type match)

Plan typeDefined benefit

Participants1,000-4,999

Cohort831 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$230.22M

Not enough data

1 years with asset history on file

Average account balance

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

$24K

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.

5,960

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

$9.86M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+8.17%

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 17 by compensation

Provider	Service type	Compensation
SEI INVESTMENTS9+ years Filed as: SEI Service code 28 · EIN 23-1707341	Investment Management	$852,847
CHEIRON2 years Service code 11 · EIN 13-1215617	Actuarial	$127,902
BRITTANY HILL2 years Filed as: BRITTANY BUFFUM Service code 30 · EIN 16-0908576	Employee (plan); Direct payment from ...	$96,615
BLITMAN & KING9+ years Service code 29 · EIN 16-1047304	Legal	$81,752
THERESA GRILLO2 years Filed as: THERESA CHRISTIAN Service code 30 · EIN 16-0908576	Employee (plan); Direct payment from ...	$61,037
MODERN ADMINISTRATION SYSTEMS LLC1 year Filed as: MODERN ADMINISTRATION SYSTEMS Service code 40 22 PUTNAM AVENUE · CAMBRIDGE, MA 02139	Foreign entity (e.g., an agent or bro...	$58,320
DAVID ROMANO2 years Filed as: DAVID ROWE Service code 30 · EIN 16-0908576	Employee (plan); Direct payment from ...	$50,869
STACY BISHOP2 years Service code 30 · EIN 16-0908576	Employee (plan); Direct payment from ...	$46,139
KAYLA LAMANDIA2 years Service code 30 · EIN 16-0908576	Direct payment from the plan; Employe...	$45,794
BRIAN FREEMAN1 year Filed as: BRIAN BOISE Service code 30 · EIN 16-0908576	Employee (plan); Direct payment from ...	$45,672

Enrolled actuary

1 attachment

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Plan features & details

Pension benefit codes1B

Plan features

1B
Benefits are primarily flat dollar
Benefits are primarily a flat dollar amount (including a dollar amount per year of service).

Opportunity flags

2 tripped

OpportunityLow employer contribution
Employer contribution per participant 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

$2.4M

$743 / participant

Investment mgmt$868K36.0%
Legal$128K5.3%
Actuarial$82K3.4%
Salaries / allowances$672K27.9%
Other / not subdivided$664K27.5%

% of EOY assets

1.119%

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: BONADIO & CO., LLP
Auditor EIN: 161131146
Audit fees: $30,315
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$13,363-100.0%

$163,428-100.0%

$13,363-100.0%

Participation rate

0.0%

2.2%-2.2pp

15.9%-15.9pp

2.2%-2.2pp

Annual return

11.67%

9.11%+2.6pp

9.36%+2.3pp

9.11%+2.6pp

Employer contribution / active EE

$3,155

$12,231-74.2%

$31,270-89.9%

$12,231-74.2%

Participant deferral / active EE

$1,272-100.0%

$263-100.0%

$1,272-100.0%

Admin fee / account holder

$125-100.0%

$9,460-100.0%

$125-100.0%

Provider

Service type

Compensation

SEI INVESTMENTS9+ years

Filed as: SEI

Service code 28 · EIN 23-1707341

Investment Management

$852,847

CHEIRON2 years

Service code 11 · EIN 13-1215617

Actuarial

$127,902

BRITTANY HILL2 years

Filed as: BRITTANY BUFFUM

Service code 30 · EIN 16-0908576

Employee (plan); Direct payment from ...

$96,615

BLITMAN & KING9+ years

Service code 29 · EIN 16-1047304

Legal

$81,752

THERESA GRILLO2 years

Filed as: THERESA CHRISTIAN

Service code 30 · EIN 16-0908576

Employee (plan); Direct payment from ...

$61,037

MODERN ADMINISTRATION SYSTEMS LLC1 year

Filed as: MODERN ADMINISTRATION SYSTEMS

Service code 40

22 PUTNAM AVENUE · CAMBRIDGE, MA 02139

Foreign entity (e.g., an agent or bro...

$58,320

DAVID ROMANO2 years

Filed as: DAVID ROWE

Service code 30 · EIN 16-0908576

Employee (plan); Direct payment from ...

$50,869

STACY BISHOP2 years

Service code 30 · EIN 16-0908576

Employee (plan); Direct payment from ...

$46,139

KAYLA LAMANDIA2 years

Service code 30 · EIN 16-0908576

Direct payment from the plan; Employe...

$45,794

BRIAN FREEMAN1 year

Filed as: BRIAN BOISE

Service code 30 · EIN 16-0908576

Employee (plan); Direct payment from ...

$45,672

SERVICE EMPLOYEES PENSION FUND OF UPSTATE NY UPSTATE NEW YORK

Summary metrics

Benchmarksi

Analytics

Service providersi

Enrolled actuary

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SERVICE EMPLOYEES PENSION FUND OF UPSTATE NY UPSTATE NEW YORK

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