Retirement plan

I.A.T.S.E. LOCAL 21 401(K) PLAN

Name: I.A.T.S.E. LOCAL 21 - I.A.T.S.E. LOCAL 21 401(K) PLAN (2022) Form 5500
Creator: I.A.T.S.E. LOCAL 21
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, I.A.T.S.E. LOCAL 21 401(K) PLAN, I.A.T.S.E. LOCAL 21

I.A.T.S.E. LOCAL 21EIN 22-3585682Plan #001PY 2022

75 MAIN STREET, SUITE 103 - MILLBURN, NJ 07041973-379-9265

Prospect flagsLow returnsLow participationLow participant contributionLow fidelity bondFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$13.1M

-16.6% from 2021

Total participants

823

+0.4% from 2021

Average account balance

$22,187

-18.9% from 2021

Annual return

-18.67%

-31.51 pp from 2021

Benchmarks

See 426 peers

Peer group

Industry71 - Arts, Entertainment, and Recreation

Plan typeDefined contribution

Participants250-999

Cohort426 peers

Snapshot2022

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Analytics

Total assets (EOY)

Plan-year ending balance

$17.87M

Not enough data

1 years with asset history on file

Average account balance

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

$27K

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.

659

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.

37.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.26M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+12.44%

Not enough data

1 years with return on file

Admin fee / account holder

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

$185

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 6 by compensation

Provider	Service type	Compensation
PKF O'CONNOR DAVIES, LLP5 years Filed as: PKF O'CONNOR DAVIES Service code 99 · EIN 22-2000222	Other Fees	$120,978
UBS FINANCIAL SERVICES INC5 years Filed as: UBS FINANCIAL SERVICES, INC. Service code 99	Other Fees	$27,050
RED BANK PENSION SERVICES, INC.2 years Service code 49 · EIN 22-2755716	Other Services	$7,061
MORNINGSTAR4 years Service code 26 · EIN 36-4317381	Advisory (Participants)	$5,356
VOYA RETIREMENT INSURANCE & ANNUITY8+ years Filed as: VOYA RETIREMENT INS. & ANNUITY CO. Service code 27 · EIN 71-0294708	Advisory (Plan)	$3,097
UBS FINANCIAL SERVICES INC5 years Filed as: UBS FINANCIAL SERVICES Service code 99 · EIN 13-2638165	Other Fees	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

6 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$90K

$198 / participant

Other / not subdivided$90K100.0%

% of EOY assets

0.687%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: PKF O'CONNOR DAVIES LLP
Auditor EIN: 271728945
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$22,187

$47,898-53.7%

$117,472-81.1%

$64,808-65.8%

Participation rate

48.6%

61.9%-13.3pp

70.6%-22.0pp

71.5%-22.9pp

Annual return

-18.67%

-15.54%-3.1pp

29.74%-48.4pp

32.82%-51.5pp

Employer contribution / active EE

$1,439

$1,774-18.9%

$4,176-65.5%

$2,506-42.6%

Participant deferral / active EE

$734

$3,151-76.7%

$4,070-82.0%

$4,310-83.0%

Admin fee / account holder

$152

$132+15.6%

$5,645-97.3%

$188-18.9%

Provider

Service type

Compensation

PKF O'CONNOR DAVIES, LLP5 years

Filed as: PKF O'CONNOR DAVIES

Service code 99 · EIN 22-2000222

Other Fees

$120,978

UBS FINANCIAL SERVICES INC5 years

Filed as: UBS FINANCIAL SERVICES, INC.

Service code 99

Other Fees

$27,050

RED BANK PENSION SERVICES, INC.2 years

Service code 49 · EIN 22-2755716

Other Services

$7,061

MORNINGSTAR4 years

Service code 26 · EIN 36-4317381

Advisory (Participants)

$5,356

VOYA RETIREMENT INSURANCE & ANNUITY8+ years

Filed as: VOYA RETIREMENT INS. & ANNUITY CO.

Service code 27 · EIN 71-0294708

Advisory (Plan)

$3,097

UBS FINANCIAL SERVICES INC5 years

Filed as: UBS FINANCIAL SERVICES

Service code 99 · EIN 13-2638165

Other Fees

I.A.T.S.E. LOCAL 21 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

I.A.T.S.E. LOCAL 21 401(K) 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