Retirement plan

UFCW LOCAL ONE 401(K) SAVINGS PLAN

Name: BRD OF TTEES UFCW LOCAL ONE 401(K) SAVINGS PLAN - UFCW LOCAL ONE 401(K) SAVINGS PLAN (2021) Form 5500
Creator: BRD OF TTEES UFCW LOCAL ONE 401(K) SAVINGS PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, UFCW LOCAL ONE 401(K) SAVINGS PLAN, BRD OF TTEES UFCW LOCAL ONE 401(K) SAVINGS PLAN

BRD OF TTEES UFCW LOCAL ONE 401(K) SAVINGS PLANEIN 16-6184130Plan #003PY 2021

5911 AIRPORT ROAD - ORISKANY, NY 134243904315-797-9600

Prospect flagsLow assets / participantLow participant contributionFailed to transmit contributions

Top hat statement on fileNQDC

Filed April 15, 2024

Plan administrator

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5911 Airport Road

Oriskany, NY 13424

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Plans declared (2)

UFCW Local One Section 457(b) Nonqualified Deferred Compensation Plan1 emp
UFCW Local One Section 457(f) Nonqualified Deferred Compensation Plan2 emp

Total covered: 3 employees

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Total assets (EOY)

$136.2M

+19.1% from 2020

Total participants

12,353

+2.3% from 2020

Average account balance

$11,606

+16.0% from 2020

Annual return

13.40%

+2.89 pp from 2020

Benchmarks

See 63 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants5,000-9,999

Cohort63 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$154.17M

Not enough data

1 years with asset history on file

Average account balance

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

$13K

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.

11,426

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.

84.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$14.84M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+9.86%

Not enough data

1 years with return on file

Admin fee / account holder

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

$98

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 14 by compensation

Provider	Service type	Compensation
UNIFIED TRUST COMPANY, N.A.7+ years Filed as: UNIFIED TRUST COMPANY, NA Service code 13 · EIN 61-1256314	Contract Administrator	$627,935
SLEVIN & HART, P.C.7+ years Filed as: SLEVIN & HART, PC Service code 29 · EIN 52-1708613	Legal	$60,341
KRISTIN OWEN7+ years Service code 30 · EIN 16-6184130	Employee (plan); Direct payment from ...	$45,700
ZACHARY GEHAN6 years Service code 30 · EIN 16-6184130	Direct payment from the plan; Employe...	$40,544
BENESYS, INC.7+ years Filed as: INNOVATIVE SOFTWARE SOLUTIONS, INC. Service code 15 · EIN 23-2182079	Recordkeeping	$28,788
KELLEY FINANCIAL SERVICES, INC.6 years Filed as: KELLEY MCLAUGHLIN Service code 30 · EIN 16-6184130	Employee (plan); Direct payment from ...	$24,152
BRIAN FREEMAN4 years Service code 30 · EIN 16-6184130	Direct payment from the plan; Employe...	$23,361
REGINA HEILAND4 years Service code 30 · EIN 16-6184130	Direct payment from the plan; Employe...	$22,489
THE SEGAL COMPANY3 years Filed as: BUCHBINDER TUNICK & CO. LLP Service code 10 · EIN 13-1578842	Accounting	$21,760
LAUREN TESTA3 years Service code 30 · EIN 16-6184130	Employee (plan); Direct payment from ...	$17,303

Plan features & details

Pension benefit codes2E2F2G2J

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.

Opportunity flags

3 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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

$1.2M

$135 / participant

Investment mgmt$169K13.9%
Contract admin$459K37.7%
Other / not subdivided$589K48.4%

% of EOY assets

0.893%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BUCHBINDER TUNICK & COMPANY LLP
Auditor EIN: 131578842
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$11,606

$41,850-72.3%

$96,572-88.0%

$101,555-88.6%

Participation rate

93.2%

58.3%+34.9pp

69.8%+23.4pp

74.5%+18.6pp

Annual return

13.40%

16.51%-3.1pp

37.79%-24.4pp

21.00%-7.6pp

Employer contribution / active EE

$1,266

$929+36.4%

$2,357-46.3%

$2,972-57.4%

Participant deferral / active EE

$529

$1,934-72.7%

$3,850-86.3%

$4,874-89.1%

Admin fee / account holder

$104

$73+42.4%

$6,183-98.3%

$139-25.7%

Provider

Service type

Compensation

UNIFIED TRUST COMPANY, N.A.7+ years

Filed as: UNIFIED TRUST COMPANY, NA

Service code 13 · EIN 61-1256314

Contract Administrator

$627,935

SLEVIN & HART, P.C.7+ years

Filed as: SLEVIN & HART, PC

Service code 29 · EIN 52-1708613

Legal

$60,341

KRISTIN OWEN7+ years

Service code 30 · EIN 16-6184130

Employee (plan); Direct payment from ...

$45,700

ZACHARY GEHAN6 years

Service code 30 · EIN 16-6184130

Direct payment from the plan; Employe...

$40,544

BENESYS, INC.7+ years

Filed as: INNOVATIVE SOFTWARE SOLUTIONS, INC.

Service code 15 · EIN 23-2182079

Recordkeeping

$28,788

KELLEY FINANCIAL SERVICES, INC.6 years

Filed as: KELLEY MCLAUGHLIN

Service code 30 · EIN 16-6184130

Employee (plan); Direct payment from ...

$24,152

BRIAN FREEMAN4 years

Service code 30 · EIN 16-6184130

Direct payment from the plan; Employe...

$23,361

REGINA HEILAND4 years

Service code 30 · EIN 16-6184130

Direct payment from the plan; Employe...

$22,489

THE SEGAL COMPANY3 years

Filed as: BUCHBINDER TUNICK & CO. LLP

Service code 10 · EIN 13-1578842

Accounting

$21,760

LAUREN TESTA3 years

Service code 30 · EIN 16-6184130

Employee (plan); Direct payment from ...

$17,303

UFCW LOCAL ONE 401(K) SAVINGS PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (2)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

UFCW LOCAL ONE 401(K) SAVINGS PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (2)

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