Retirement plan

WESTERN NEW YORK TEAMSTERS 401(K) PLAN

Name: TEAMSTERS LOCAL NO. 264 - WESTERN NEW YORK TEAMSTERS 401(K) PLAN (2024) Form 5500
Creator: TEAMSTERS LOCAL NO. 264
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WESTERN NEW YORK TEAMSTERS 401(K) PLAN, TEAMSTERS LOCAL NO. 264

TEAMSTERS LOCAL NO. 264EIN 16-1334019Plan #001PY 2024

35 TYROL DRIVE - CHEEKTOWAGA, NY 14227716-668-1106teamsters264.orgLinkedIn11-50 employeesbanking

Prospect flagsLow returnsLow participant contribution

How to read this page

Total assets (EOY)

$39.7M

+6.6% from 2023

Total participants

897

-2.0% from 2023

Average account balance

$46,552

+5.9% from 2023

Annual return

11.64%

-0.51 pp from 2023

Benchmarks

See 743 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort743 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$39.66M

Not enough data

1 years with asset history on file

Average account balance

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

$47K

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.

852

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.

93.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.07M

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

+11.64%

Not enough data

1 years with return on file

Admin fee / account holder

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

$210

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 3 by compensation

Provider	Service type	Compensation
APFS WEALTH MANAGEMENT10+ years Service code 27 · EIN 16-1462987 350 LINDEN OAKS, SUITE 140 · ROCHESTER, NY 14625	Advisory (Plan)	$75,187
AT RETIREMENT SERVICES, LLC1 year Service code 14 · EIN 83-3455979	Plan Administrator	$66,504
ARCARA ZUCARELLI LENDA & ASSOCIATES1 year Filed as: ARCARA ZUCARELLI LENDA & ASSOC. CPA Service code 10 5214 MAIN ST #200 · WILLIAMSVILLE, NY 14221	Accounting	$27,000

Plan features & details

Pension benefit codes2E2G2J2K2F2T

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.
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.
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

2 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$179K

$249 / participant

Other / not subdivided$179K100.0%

% of EOY assets

0.452%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: ARCARA, LENDA, EUSANIO & STACEY CPA
Auditor EIN: 471793720
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$46,552

$66,486-30.0%

$81,370-42.8%

$77,762-40.1%

Participation rate

93.7%

68.7%+25.0pp

69.5%+24.2pp

70.6%+23.2pp

Annual return

11.64%

15.95%-4.3pp

24.85%-13.2pp

31.27%-19.6pp

Employer contribution / active EE

$1,636

$2,158-24.2%

$2,464-33.6%

$2,728-40.0%

Participant deferral / active EE

$1,237

$3,677-66.4%

$3,885-68.2%

$4,651-73.4%

Admin fee / account holder

$210

$586-64.1%

$5,749-96.3%

$433-51.4%

Provider

Service type

Compensation

APFS WEALTH MANAGEMENT10+ years

Service code 27 · EIN 16-1462987

350 LINDEN OAKS, SUITE 140 · ROCHESTER, NY 14625

Advisory (Plan)

$75,187

AT RETIREMENT SERVICES, LLC1 year

Service code 14 · EIN 83-3455979

Plan Administrator

$66,504

ARCARA ZUCARELLI LENDA & ASSOCIATES1 year

Filed as: ARCARA ZUCARELLI LENDA & ASSOC. CPA

Service code 10

5214 MAIN ST #200 · WILLIAMSVILLE, NY 14221

Accounting

$27,000

WESTERN NEW YORK TEAMSTERS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WESTERN NEW YORK TEAMSTERS 401(K) 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