Retirement plan

LOCAL 360 401(K) AND SEVERANCE PLAN

Name: LOCAL 360 401(K) AND SEVERANCE PLAN - LOCAL 360 401(K) AND SEVERANCE PLAN (2024) Form 5500
Creator: LOCAL 360 401(K) AND SEVERANCE PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LOCAL 360 401(K) AND SEVERANCE PLAN, LOCAL 360 401(K) AND SEVERANCE PLAN

LOCAL 360 401(K) AND SEVERANCE PLANEIN 22-2450938Plan #009PY 2024

48 STILES LANE, SUITE 204 - PINE BROOK, NJ 07058973-299-6700

Prospect flagsLow assets / participantLow participant contribution

How to read this page

Total assets (EOY)

$11.6M

+21.1% from 2023

Total participants

3,051

+0.0% from 2023

Average account balance

$3,808

+21.0% from 2023

Annual return

12.11%

+1.66 pp from 2023

Benchmarks

See 391 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants1,000-4,999

Cohort391 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.62M

Not enough data

1 years with asset history on file

Average account balance

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

$4K

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.

3,051

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.56M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$950

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

+12.11%

Not enough data

1 years with return on file

Admin fee / account holder

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

$94

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 6 by compensation

Provider	Service type	Compensation
TRI-STATE ADMINISTRATORS INC4 years Service code 15 · EIN 22-3478819	Recordkeeping	$107,976
TRANSAMERICA RETIREMENT SOLUTIONS2 years Filed as: TRANSAMERICA LIFE INSURANCE Service code 15 · EIN 36-6071399	Recordkeeping	$73,144
MORGAN STANLEY SMITH BARNEY10+ years Filed as: MORGAN LEWIS & BOCKIUS LLP Service code 29 · EIN 23-0891050	Legal	$37,850
BARATZ & ASSOCIATES, P.A.10+ years Service code 10 · EIN 22-2212404	Accounting	$31,059
SPEAR WILDERMAN5 years Service code 29 1040 KINGS HIGHWAY · CHERRY HILL, NJ 08034	Legal	$29,877
MERRILL LYNCH PIERCE FENNER & SMITH1 year Filed as: MERRILL LYNCH LIFE AGENCY Service code 27 · EIN 13-2808480	Advisory (Plan)	$22,953

Plan features & details

Pension benefit codes2G2J2T

Plan features

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.
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 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.

Expense breakdown

Schedule H Part II

Admin total

$287K

$175 / participant

Recordkeeping$73K25.5%
Legal$68K23.6%
Contract admin$108K37.6%
Other / not subdivided$38K13.3%

% of EOY assets

2.471%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BARATZ & ASSOCIATES, P.A.
Auditor EIN: 222212404
Audit fees: $31,059
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$3,808

$48,744-92.2%

$93,727-95.9%

$200,096-98.1%

Participation rate

100.0%

63.7%+36.3pp

68.7%+31.3pp

72.0%+28.0pp

Annual return

12.11%

15.36%-3.3pp

133.83%-121.7pp

34.26%-22.1pp

Employer contribution / active EE

$816

$1,140-28.4%

$2,421-66.3%

$3,038-73.1%

Participant deferral / active EE

$135

$2,825-95.2%

$4,417-97.0%

$5,090-97.4%

Admin fee / account holder

$94

$195-51.8%

$8,292-98.9%

$269-65.1%

Provider

Service type

Compensation

TRI-STATE ADMINISTRATORS INC4 years

Service code 15 · EIN 22-3478819

Recordkeeping

$107,976

TRANSAMERICA RETIREMENT SOLUTIONS2 years

Filed as: TRANSAMERICA LIFE INSURANCE

Service code 15 · EIN 36-6071399

Recordkeeping

$73,144

MORGAN STANLEY SMITH BARNEY10+ years

Filed as: MORGAN LEWIS & BOCKIUS LLP

Service code 29 · EIN 23-0891050

Legal

$37,850

BARATZ & ASSOCIATES, P.A.10+ years

Service code 10 · EIN 22-2212404

Accounting

$31,059

SPEAR WILDERMAN5 years

Service code 29

1040 KINGS HIGHWAY · CHERRY HILL, NJ 08034

Legal

$29,877

MERRILL LYNCH PIERCE FENNER & SMITH1 year

Filed as: MERRILL LYNCH LIFE AGENCY

Service code 27 · EIN 13-2808480

Advisory (Plan)

$22,953

LOCAL 360 401(K) AND SEVERANCE PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LOCAL 360 401(K) AND SEVERANCE 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