Retirement plan

BAC LOCAL 3 NY INDIVIDUAL ACCOUNT RETIREMENT FUND

Name: BOARD OF TRUSTEES BAC LOCAL 3 NY INDIVIDUAL ACCOUNT RETIREMENT FUND - BAC LOCAL 3 NY INDIVIDUAL ACCOUNT RETIREMENT FUND (2018) Form 5500
Creator: BOARD OF TRUSTEES BAC LOCAL 3 NY INDIVIDUAL ACCOUNT RETIREMENT FUND
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BAC LOCAL 3 NY INDIVIDUAL ACCOUNT RETIREMENT FUND, BOARD OF TRUSTEES BAC LOCAL 3 NY INDIVIDUAL ACCOUNT RETIREMENT FUND

BOARD OF TRUSTEES BAC LOCAL 3 NY INDIVIDUAL ACCOUNT RETIREMENT FUNDEIN 16-1184581Plan #002PY 2018

33 SAGINAW DRIVE - ROCHESTER, NY 146233131585-385-1160

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$71.3M

-4.8% from 2017

Total participants

2,283

+2.7% from 2017

Average account balance

$37,809

-7.5% from 2017

Annual return

-3.95%

-17.75 pp from 2017

Benchmarks

See 405 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort405 peers

Snapshot2018

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Analytics

Total assets (EOY)

Plan-year ending balance

$98.59M

Not enough data

1 years with asset history on file

Average account balance

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

$48K

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.

2,052

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.

53.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.81M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+8.65%

Not enough data

1 years with return on file

Admin fee / account holder

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

$169

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 11 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.4+ years Filed as: MASS MUTUAL LIFE INSURANCE COMPANY Service code 52 · EIN 04-1590850	Indirect Investment Fees	$252,168
MORGAN STANLEY SMITH BARNEY2 years Filed as: MORGAN STANLEY Service code 28 · EIN 36-3145972	Investment Management	$35,000
BONADIO & CO., LLP2 years Service code 10 · EIN 16-1131146	Accounting	$24,957
TREVETT CRISTO SALZER & ANDOLINA PC4+ years Service code 29 · EIN 16-1278314	Legal	$17,690
ARCARA ZUCARELLI LENDA & ASSOCIATES4+ years Filed as: ARCARA ZUCARELLI LENDA & STRAKA CPA Service code 10 · EIN 47-1793720	Accounting	$13,202
BAC LOCAL 3 NY BUILDING CORP.1 year Filed as: BAC LOCAL 3 NY BUILDING CORP Service code 49 · EIN 82-0864921	Other Services	$11,831
BAC LOCAL 3 UNION2 years Service code 49 · EIN 16-1612238	Other Services	$8,354
BAC LOCAL 3 JOINT APPRENTICESHIP2 years Service code 49 · EIN 16-1005993	Other Services	$8,242
LOCAL 1102 RWDSU3 years Filed as: LOCAL 3 NY ANNUITY BUFFALO Service code 10 · EIN 16-1184581	Accounting	$0
LOCAL 1102 RWDSU3 years Filed as: LOCAL 3 NY ANNUITY ITHACA Service code 14 · EIN 16-1184581	Plan Administrator	$0

Plan features & details

Pension benefit codes2E2F2G2T

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.
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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$306K

$136 / participant

Investment mgmt$35K11.5%
Other / not subdivided$271K88.5%

% of EOY assets

0.429%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: BONADIO & CO., LLP
Auditor EIN: 161131146
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$37,809

$60,396-37.4%

$83,848-54.9%

$75,289-49.8%

Participation rate

82.4%

80.7%+1.7pp

76.1%+6.3pp

72.4%+10.0pp

Annual return

-3.95%

3.84%-7.8pp

850.88%-854.8pp

-0.04%-3.9pp

Employer contribution / active EE

$1,355

$3,343-59.5%

$3,631-62.7%

$2,405-43.7%

Participant deferral / active EE

$2,922-100.0%

$4,082-100.0%

$3,739-100.0%

Admin fee / account holder

$162

$141+14.8%

$5,478-97.0%

$102+58.5%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.4+ years

Filed as: MASS MUTUAL LIFE INSURANCE COMPANY

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$252,168

MORGAN STANLEY SMITH BARNEY2 years

Filed as: MORGAN STANLEY

Service code 28 · EIN 36-3145972

Investment Management

$35,000

BONADIO & CO., LLP2 years

Service code 10 · EIN 16-1131146

Accounting

$24,957

TREVETT CRISTO SALZER & ANDOLINA PC4+ years

Service code 29 · EIN 16-1278314

Legal

$17,690

ARCARA ZUCARELLI LENDA & ASSOCIATES4+ years

Filed as: ARCARA ZUCARELLI LENDA & STRAKA CPA

Service code 10 · EIN 47-1793720

Accounting

$13,202

BAC LOCAL 3 NY BUILDING CORP.1 year

Filed as: BAC LOCAL 3 NY BUILDING CORP

Service code 49 · EIN 82-0864921

Other Services

$11,831

BAC LOCAL 3 UNION2 years

Service code 49 · EIN 16-1612238

Other Services

$8,354

BAC LOCAL 3 JOINT APPRENTICESHIP2 years

Service code 49 · EIN 16-1005993

Other Services

$8,242

LOCAL 1102 RWDSU3 years

Filed as: LOCAL 3 NY ANNUITY BUFFALO

Service code 10 · EIN 16-1184581

Accounting

LOCAL 1102 RWDSU3 years

Filed as: LOCAL 3 NY ANNUITY ITHACA

Service code 14 · EIN 16-1184581

Plan Administrator

BAC LOCAL 3 NY INDIVIDUAL ACCOUNT RETIREMENT FUND

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BAC LOCAL 3 NY INDIVIDUAL ACCOUNT 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