Retirement plan

WESTERN NEW YORK TEAMSTERS 401(K) PLAN

Name: TEAMSTERS LOCAL NO. 264 - WESTERN NEW YORK TEAMSTERS 401(K) PLAN (2017) 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 2017

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

Prospect flagsLow participant contribution

How to read this page

Total assets (EOY)

$29.3M

+14.3% from 2016

Total participants

832

+4.5% from 2016

Average account balance

$43,661

+17.2% from 2016

Annual return

13.66%

+3.11 pp from 2016

Benchmarks

See 684 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort684 peers

Snapshot2017

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 4 by compensation

Provider	Service type	Compensation
UNIFIED TRUST COMPANY, N.A.3+ years Service code 21 · EIN 61-1381380	Bank Trustee	$54,405
APFS WEALTH MANAGEMENT3+ years Service code 27 · EIN 16-1462987 350 LINDEN OAKS, SUITE 140 · ROCHESTER, NY 14625	Advisory (Plan)	$52,967
ARCARA ZUCARELLI LENDA & ASSOCIATES2 years Service code 10 5214 MAIN ST., SUITE 200 · WILLIAMSVILLE, NY 14221	Accounting	$9,000
TEAMSTERS LOCAL UNION 301 GENERAL2 years Filed as: TEAMSTERS LOCAL 264 Service code 14 35 TYROL DRIVE · CHEEKTOWAGA, NY 14227	Plan Administrator	$5,503

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

$130K

$203 / participant

Investment mgmt$53K40.7%
Contract admin$54K41.8%
Other / not subdivided$23K17.6%

% of EOY assets

0.444%

all-in expense ratio

Categories reported

2 / 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

$43,661

$53,925-19.0%

$75,501-42.2%

$69,631-37.3%

Participation rate

75.1%

71.2%+3.9pp

72.4%+2.8pp

70.7%+4.4pp

Annual return

13.66%

17.84%-4.2pp

27.35%-13.7pp

27571.02%-27557.4pp

Employer contribution / active EE

$1,171

$1,802-35.0%

$2,352-50.2%

$2,032-42.4%

Participant deferral / active EE

$929

$2,569-63.9%

$3,142-70.5%

$3,224-71.2%

Admin fee / account holder

$194

$97+99.6%

$5,801-96.7%

$110+75.5%

Provider

Service type

Compensation

UNIFIED TRUST COMPANY, N.A.3+ years

Service code 21 · EIN 61-1381380

Bank Trustee

$54,405

APFS WEALTH MANAGEMENT3+ years

Service code 27 · EIN 16-1462987

350 LINDEN OAKS, SUITE 140 · ROCHESTER, NY 14625

Advisory (Plan)

$52,967

ARCARA ZUCARELLI LENDA & ASSOCIATES2 years

Service code 10

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

Accounting

$9,000

TEAMSTERS LOCAL UNION 301 GENERAL2 years

Filed as: TEAMSTERS LOCAL 264

Service code 14

35 TYROL DRIVE · CHEEKTOWAGA, NY 14227

Plan Administrator

$5,503

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