Retirement plan

STAFF DC PLAN FOR HEAVY AND GENERAL LABORERS LOCALS 472 & 172 EMPLOYEE BENEFIT FUND

Name: HEAVY & GENERAL LABORERS LOCAL 472 & LOCAL 172 OF NEW JERSEY EMP BEN - STAFF DC PLAN FOR HEAVY AND GENERAL LABORERS LOCALS 472 & 172 EMPLOYEE BENEFIT FUND (2024) Form 5500
Creator: HEAVY & GENERAL LABORERS LOCAL 472 & LOCAL 172 OF NEW JERSEY EMP BEN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, STAFF DC PLAN FOR HEAVY AND GENERAL LABORERS LOCALS 472 & 172 EMPLOYEE BENEFIT FUND, HEAVY & GENERAL LABORERS LOCAL 472 & LOCAL 172 OF NEW JERSEY EMP BEN

HEAVY & GENERAL LABORERS LOCAL 472 & LOCAL 172 OF NEW JERSEY EMP BENEIN 22-1481564Plan #002PY 2024

700 RAYMOND BLVD - NEWARK, NJ 07105973-589-5050njseed.orgLinkedIn51-200 employees

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$6.8M

+7.0% from 2023

Total participants

-1.2% from 2023

Average account balance

$80,507

+8.3% from 2023

Annual return

9.03%

-5.59 pp from 2023

Benchmarks

See 18,526 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort18,526 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.84M

Not enough data

1 years with asset history on file

Average account balance

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

$81K

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.

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.

151.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$357K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+9.03%

Not enough data

1 years with return on file

Admin fee / account holder

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

$5702

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2C3D2T3H

Plan features

2C
Money purchase plan
Money purchase pension plan other than a target benefit plan.
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.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$485K

$8656 / participant

Other / not subdivided$485K100.0%

% of EOY assets

7.083%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$80,507

$81,504-1.2%

$102,437-21.4%

$80,959-0.6%

Participation rate

100.0%

66.9%+33.1pp

74.5%+25.5pp

67.7%+32.3pp

Annual return

9.03%

25.60%-16.6pp

24.95%-15.9pp

35.67%-26.6pp

Employer contribution / active EE

$6,372

$3,104+105.3%

$3,871+64.6%

$2,757+131.1%

Participant deferral / active EE

$3,871-100.0%

$5,060-100.0%

$4,300-100.0%

Admin fee / account holder

$5,702

$6,719-15.1%

$8,388-32.0%

$6,925-17.7%

STAFF DC PLAN FOR HEAVY AND GENERAL LABORERS LOCALS 472 & 172 EMPLOYEE BENEFIT FUND

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

STAFF DC PLAN FOR HEAVY AND GENERAL LABORERS LOCALS 472 & 172 EMPLOYEE BENEFIT FUND

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