Retirement plan

ROCHESTER DAIRY INDUSTRY INDIVIDUAL PENSION ACCOUNT

Name: ROC. DAIRY TEAMSTERS LOCAL 118 - ROCHESTER DAIRY INDUSTRY INDIVIDUAL PENSION ACCOUNT (2021) Form 5500
Creator: ROC. DAIRY TEAMSTERS LOCAL 118
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ROCHESTER DAIRY INDUSTRY INDIVIDUAL PENSION ACCOUNT, ROC. DAIRY TEAMSTERS LOCAL 118

ROC. DAIRY TEAMSTERS LOCAL 118EIN 16-6019488Plan #002PY 2021

130 METRO PARK - ROCHESTER, NY 146232610585-256-1350

Prospect flagsHigh feesHigh cashFailed to transmit contributions

How to read this page

Total assets (EOY)

$22M

+35.9% from 2020

Total participants

222

-0.9% from 2020

Average account balance

$105,217

+32.6% from 2020

Annual return

41.25%

+49.56 pp from 2020

Benchmarks

See 946 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort946 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$19.50M

Not enough data

1 years with asset history on file

Average account balance

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

$70K

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.

279

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.

79.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.26M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+6.43%

Not enough data

1 years with return on file

Admin fee / account holder

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

$360

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 9 by compensation

Provider	Service type	Compensation
WESTMINSTER CONSULTING, LLC4 years Service code 50 · EIN 45-3679779	Direct Payment	$51,879
MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years Service code 49 · EIN 04-1590850	Other Services	$43,632
HARTER SECREST & EMERY LLP6+ years Service code 50 · EIN 16-0766172	Direct Payment	$12,827
MMA SECURITIES LLC1 year Filed as: MARSH Service code 50 · EIN 36-1436000	Direct Payment	$8,293
ALTA TRUST3 years Service code 52 · EIN 59-2385219	Indirect Investment Fees	$0
AMERICAN FUNDS2 years Service code 52 · EIN 95-1411037	Indirect Investment Fees	$0
BAIRD FUNDS2 years Service code 52 · EIN 39-6037917	Indirect Investment Fees	$0
T ROWE PRICE RPS INC4 years Filed as: T. ROWE PRICE Service code 52 · EIN 52-1151266	Indirect Investment Fees	$0
THE VANGUARD GROUP, INC.4 years Filed as: VANGUARD Service code 52 · EIN 23-1999755	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2J2F2G2S2T

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityHigh cash
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$140K

$689 / participant

Investment mgmt$94K67.3%
Contract admin$1K1.0%
Other / not subdivided$44K31.7%

% of EOY assets

0.636%

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: SEAN HUCKO, CPA, LLC
Auditor EIN: 474215313
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$105,217

$59,584+76.6%

$86,625+21.5%

$79,389+32.5%

Participation rate

93.6%

67.7%+25.9pp

71.6%+21.9pp

70.7%+22.9pp

Annual return

41.25%

23.15%+18.1pp

63.52%-22.3pp

116.89%-75.6pp

Employer contribution / active EE

$1,663

$1,768-5.9%

$2,496-33.4%

$2,428-31.5%

Participant deferral / active EE

$2,640

$3,036-13.0%

$3,700-28.6%

$4,046-34.7%

Admin fee / account holder

$669

$604+10.7%

$5,830-88.5%

$626+6.8%

Provider

Service type

Compensation

WESTMINSTER CONSULTING, LLC4 years

Service code 50 · EIN 45-3679779

Direct Payment

$51,879

MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years

Service code 49 · EIN 04-1590850

Other Services

$43,632

HARTER SECREST & EMERY LLP6+ years

Service code 50 · EIN 16-0766172

Direct Payment

$12,827

MMA SECURITIES LLC1 year

Filed as: MARSH

Service code 50 · EIN 36-1436000

Direct Payment

$8,293

ALTA TRUST3 years

Service code 52 · EIN 59-2385219

Indirect Investment Fees

AMERICAN FUNDS2 years

Service code 52 · EIN 95-1411037

Indirect Investment Fees

BAIRD FUNDS2 years

Service code 52 · EIN 39-6037917

Indirect Investment Fees

T ROWE PRICE RPS INC4 years

Filed as: T. ROWE PRICE

Service code 52 · EIN 52-1151266

Indirect Investment Fees

THE VANGUARD GROUP, INC.4 years

Filed as: VANGUARD

Service code 52 · EIN 23-1999755

Indirect Investment Fees

ROCHESTER DAIRY INDUSTRY INDIVIDUAL PENSION ACCOUNT

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ROCHESTER DAIRY INDUSTRY INDIVIDUAL PENSION ACCOUNT

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