Retirement plan

WESTERN NEW YORK TEAMSTERS 401(K) PLAN

Name: TEAMSTERS LOCAL NO. 264 - WESTERN NEW YORK TEAMSTERS 401(K) PLAN (2016) 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 2016

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

Prospect flagsLow participant contribution

How to read this page

Total assets (EOY)

$25.7M

+10.7% from 2015

Total participants

796

-2.7% from 2015

Average account balance

$37,259

+13.0% from 2015

Annual return

10.55%

+11.00 pp from 2015

Benchmarks

See 682 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort682 peers

Snapshot2016

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

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Service providers

Top 5 by compensation

Provider	Service type	Compensation
UNIFIED TRUST COMPANY, N.A.2+ years Service code 21 · EIN 61-1381380	Bank Trustee	$51,685
APFS WEALTH MANAGEMENT2+ years Service code 27 · EIN 16-1462987 350 LINDEN OAKS, SUITE 140 · ROCHESTER, NY 14625	Advisory (Plan)	$47,642
ARCARA ZUCARELLI LENDA & ASSOCIATES1 year Service code 10 5214 MAIN ST., SUITE 200 · WILLIAMSVILLE, NY 14221	Accounting	$16,800
TEAMSTERS LOCAL UNION 301 GENERAL1 year Filed as: TEAMSTERS LOCAL 264 Service code 14 35 TYROL DRIVE · CHEEKTOWAGA, NY 14227	Plan Administrator	$15,091
LIPSITZ GREEN SCIME & CAMBRIA2+ years Filed as: LIPSITZ GREEN SCIME CAMBRIA, LLP Service code 29 · EIN 16-0905097	Legal	$5,015

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

1 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$126K

$187 / participant

Other / not subdivided$126K100.0%

% of EOY assets

0.492%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: ARCARA ZUCARELLI LENDA & ASSOCIATES
Auditor EIN: 471793720
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$37,259

$50,106-25.6%

$69,779-46.6%

$57,658-35.4%

Participation rate

84.2%

70.9%+13.3pp

71.8%+12.4pp

70.2%+14.0pp

Annual return

10.55%

14.58%-4.0pp

12.99%-2.4pp

5.13%+5.4pp

Employer contribution / active EE

$1,029

$1,739-40.8%

$2,338-56.0%

$1,974-47.9%

Participant deferral / active EE

$788

$2,486-68.3%

$2,931-73.1%

$3,061-74.3%

Admin fee / account holder

$183

$89+105.6%

$4,381-95.8%

$95+94.0%

Provider

Service type

Compensation

UNIFIED TRUST COMPANY, N.A.2+ years

Service code 21 · EIN 61-1381380

Bank Trustee

$51,685

APFS WEALTH MANAGEMENT2+ years

Service code 27 · EIN 16-1462987

350 LINDEN OAKS, SUITE 140 · ROCHESTER, NY 14625

Advisory (Plan)

$47,642

ARCARA ZUCARELLI LENDA & ASSOCIATES1 year

Service code 10

5214 MAIN ST., SUITE 200 · WILLIAMSVILLE, NY 14221

Accounting

$16,800

TEAMSTERS LOCAL UNION 301 GENERAL1 year

Filed as: TEAMSTERS LOCAL 264

Service code 14

35 TYROL DRIVE · CHEEKTOWAGA, NY 14227

Plan Administrator

$15,091

LIPSITZ GREEN SCIME & CAMBRIA2+ years

Filed as: LIPSITZ GREEN SCIME CAMBRIA, LLP

Service code 29 · EIN 16-0905097

Legal

$5,015

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