Retirement plan

SHEET METAL WORKERS LOCAL UNION NO 25 NEW JERSEY ANNUITY FUND

Name: BOARD OF TRUSTEES, SMW LOCAL UNION NO. 25 NJ ANNUITY FUND - SHEET METAL WORKERS LOCAL UNION NO 25 NEW JERSEY ANNUITY FUND (2023) Form 5500
Creator: BOARD OF TRUSTEES, SMW LOCAL UNION NO. 25 NJ ANNUITY FUND
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SHEET METAL WORKERS LOCAL UNION NO 25 NEW JERSEY ANNUITY FUND, BOARD OF TRUSTEES, SMW LOCAL UNION NO. 25 NJ ANNUITY FUND

BOARD OF TRUSTEES, SMW LOCAL UNION NO. 25 NJ ANNUITY FUNDEIN 22-2586286Plan #001PY 2023

440 BARELL AVENUE - CARLSTADT, NJ 07072201-507-0330LinkedIn1001-5000 employeesinsurance

Prospect flagsLow returnsHigh feesRecently reached 100 employees

How to read this page

Total assets (EOY)

$148.8M

+8.4% from 2022

Total participants

980

-2.0% from 2022

Average account balance

$151,810

No prior year

Annual return

12.32%

+23.99 pp from 2022

Benchmarks

See 1,521 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,521 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$157.83M

Not enough data

1 years with asset history on file

Average account balance

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

$166K

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.

950

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

$5.71M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

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

+10.44%

Not enough data

1 years with return on file

Admin fee / account holder

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

$805

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 7 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSUR CO OF AMERICA Service code 49 · EIN 06-1050034	Other Services	$79,892
BOYD WATTERSON ASSET MANAGEMENT7 years Filed as: BOYD WATTERSON ASSET MANAGEMENT LLC Service code 27 · EIN 45-2061717 500 W MONROE STREET STE 3850 · CHICAGO, IL 60661	Advisory (Plan)	$78,077
CLEARY, JOSEM & TRIGIANI LLP8 years Service code 29 · EIN 23-2657967 325 CHESTNUT STREET SUITE 200 · PHILADELPHIA, PA 19106	Legal	$44,288
REYNOLDS CONSULTING SERVICES3 years Filed as: REYNOLDS CONSULTING Service code 27 · EIN 11-2558102	Advisory (Plan)	$42,400
KARLEEN O NEILL9+ years Service code 30 · EIN 22-2586287	Employee (plan)	$41,153
VIRGINIA & AMBINDER, LLP9+ years Filed as: VIRGINIA OLSEN Service code 30 · EIN 22-2586287	Employee (plan)	$36,796
MANFRE CPA P.C.9+ years Service code 10 · EIN 61-1632657	Accounting	$35,056

Plan features & details

Pension benefit codes2E2G

Plan features

2E
Profit-sharing
Profit-sharing 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.

Opportunity flags

3 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.
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$757K

$1846 / participant

Investment mgmt$120K15.9%
Legal$44K5.9%
Salaries / allowances$77K10.1%
Contract admin$417K55.1%
Other / not subdivided$99K13.0%

% of EOY assets

0.509%

all-in expense ratio

Categories reported

4 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MANFRE CPA P.C.
Auditor EIN: 611632657
Audit fees: $37,233
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$151,810

$100,272+51.4%

$170,043-10.7%

$74,460+103.9%

Participation rate

100.0%

87.4%+12.6pp

87.0%+13.0pp

70.7%+29.3pp

Annual return

12.32%

66.12%-53.8pp

53.40%-41.1pp

34.38%-22.1pp

Employer contribution / active EE

$15,789

$4,266+270.1%

$6,790+132.5%

$2,638+498.5%

Participant deferral / active EE

$7,147-100.0%

$10,410-100.0%

$4,530-100.0%

Admin fee / account holder

$772

$235+229.1%

$12,824-94.0%

$348+122.0%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSUR CO OF AMERICA

Service code 49 · EIN 06-1050034

Other Services

$79,892

BOYD WATTERSON ASSET MANAGEMENT7 years

Filed as: BOYD WATTERSON ASSET MANAGEMENT LLC

Service code 27 · EIN 45-2061717

500 W MONROE STREET STE 3850 · CHICAGO, IL 60661

Advisory (Plan)

$78,077

CLEARY, JOSEM & TRIGIANI LLP8 years

Service code 29 · EIN 23-2657967

325 CHESTNUT STREET SUITE 200 · PHILADELPHIA, PA 19106

Legal

$44,288

REYNOLDS CONSULTING SERVICES3 years

Filed as: REYNOLDS CONSULTING

Service code 27 · EIN 11-2558102

Advisory (Plan)

$42,400

KARLEEN O NEILL9+ years

Service code 30 · EIN 22-2586287

Employee (plan)

$41,153

VIRGINIA & AMBINDER, LLP9+ years

Filed as: VIRGINIA OLSEN

Service code 30 · EIN 22-2586287

Employee (plan)

$36,796

MANFRE CPA P.C.9+ years

Service code 10 · EIN 61-1632657

Accounting

$35,056

SHEET METAL WORKERS LOCAL UNION NO 25 NEW JERSEY ANNUITY FUND

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SHEET METAL WORKERS LOCAL UNION NO 25 NEW JERSEY 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