Retirement plan

I.A.H.F.I.A.W. LOCAL NO. 32 - ANNUITY FUND

Name: BOARD OF TRUSTEES I.A.H.F.I.A.W. LOCAL NO. 32 - ANNUITY FUND - I.A.H.F.I.A.W. LOCAL NO. 32 - ANNUITY FUND (2022) Form 5500
Creator: BOARD OF TRUSTEES I.A.H.F.I.A.W. LOCAL NO. 32 - ANNUITY FUND
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, I.A.H.F.I.A.W. LOCAL NO. 32 - ANNUITY FUND, BOARD OF TRUSTEES I.A.H.F.I.A.W. LOCAL NO. 32 - ANNUITY FUND

BOARD OF TRUSTEES I.A.H.F.I.A.W. LOCAL NO. 32 - ANNUITY FUNDEIN 22-2410262Plan #001PY 2022

BASIL CASTROVINCI ASSOCIATES, INC., 36 HOPATCHUNG ROAD - HOPATCONG, NJ 07843732-545-3210

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$46.2M

-8.7% from 2021

Total participants

659

-0.2% from 2021

Average account balance

$119,077

-5.1% from 2021

Annual return

-9.32%

-17.36 pp from 2021

Benchmarks

See 1,393 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,393 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$56.14M

Not enough data

1 years with asset history on file

Average account balance

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

$144K

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.

389

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.

56.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.70M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+10.76%

Not enough data

1 years with return on file

Admin fee / account holder

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

$420

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
BASIL CASTROVINCI ASSOCIATES INC7 years Filed as: BASIL CASTROVINCI & ASSOCIATES, INC Service code 13 · EIN 13-2831500	Contract Administrator	$65,801
METS SCHIRO & MCGOVERN7 years Filed as: METS SCHIRO AND MCGOVERN Service code 29 · EIN 75-3116930	Legal	$28,825
RBC WEALTH MANAGEMENT8+ years Service code 27 · EIN 23-2384840	Advisory (Plan)	$23,043
MSPC7 years Filed as: MSPC, CPA'S AND ADVISORS, P.C. Service code 10 · EIN 22-2951202	Accounting	$17,635
JOHN HANCOCK LIFE INSURANCE COMPANY3 years Filed as: JOHN HANCOCK Service code 15 · EIN 01-0233346	Recordkeeping	$1,925

Plan features & details

Pension benefit codes2C2G2T

Plan features

2C
Money purchase plan
Money purchase pension plan other than a target benefit plan.
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.
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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$150K

$239 / participant

Investment mgmt$23K15.3%
Contract admin$53K35.5%
Other / not subdivided$74K49.1%

% of EOY assets

0.325%

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: MSPC CERTIFIED PUBLIC ACCOUNTANTS A
Auditor EIN: 222951202
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$119,077

$106,236+12.1%

$112,249+6.1%

$64,819+83.7%

Participation rate

56.8%

71.7%-14.8pp

75.1%-18.2pp

71.5%-14.6pp

Annual return

-9.32%

-6.02%-3.3pp

27.48%-36.8pp

32.84%-42.2pp

Employer contribution / active EE

$3,926

$3,166+24.0%

$3,636+8.0%

$2,507+56.6%

Participant deferral / active EE

$3,785-100.0%

$4,729-100.0%

$4,311-100.0%

Admin fee / account holder

$387

$452-14.2%

$6,412-94.0%

$188+106.3%

Provider

Service type

Compensation

BASIL CASTROVINCI ASSOCIATES INC7 years

Filed as: BASIL CASTROVINCI & ASSOCIATES, INC

Service code 13 · EIN 13-2831500

Contract Administrator

$65,801

METS SCHIRO & MCGOVERN7 years

Filed as: METS SCHIRO AND MCGOVERN

Service code 29 · EIN 75-3116930

Legal

$28,825

RBC WEALTH MANAGEMENT8+ years

Service code 27 · EIN 23-2384840

Advisory (Plan)

$23,043

MSPC7 years

Filed as: MSPC, CPA'S AND ADVISORS, P.C.

Service code 10 · EIN 22-2951202

Accounting

$17,635

JOHN HANCOCK LIFE INSURANCE COMPANY3 years

Filed as: JOHN HANCOCK

Service code 15 · EIN 01-0233346

Recordkeeping

$1,925

I.A.H.F.I.A.W. LOCAL NO. 32 - ANNUITY FUND

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

I.A.H.F.I.A.W. LOCAL NO. 32 - ANNUITY 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