Retirement plan

UNITE HERE LOCAL 26 401(K) PLAN

Name: TRUSTEES OF THE UNITE HERE LOCAL 26 401(K) PLAN - UNITE HERE LOCAL 26 401(K) PLAN (2023) Form 5500
Creator: TRUSTEES OF THE UNITE HERE LOCAL 26 401(K) PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, UNITE HERE LOCAL 26 401(K) PLAN, TRUSTEES OF THE UNITE HERE LOCAL 26 401(K) PLAN

TRUSTEES OF THE UNITE HERE LOCAL 26 401(K) PLANEIN 22-3674126Plan #003PY 2023

145 TREMONT ST. FLOOR 6 - BOSTON, MA 02111617-451-0318

Prospect flagsLow returnsFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$81.1M

+10.2% from 2022

Total participants

3,025

+14.0% from 2022

Average account balance

$34,287

-7.7% from 2022

Annual return

9.40%

+20.49 pp from 2022

Benchmarks

See 266 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort266 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$100.21M

Not enough data

1 years with asset history on file

Average account balance

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

$33K

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.

3,034

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.

83.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$8.06M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+9.42%

Not enough data

1 years with return on file

Admin fee / account holder

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

$101

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
GBHE LOCAL 26 BENEFITS ADMINISTRATI4 years Filed as: GBHE LOCAL 26 BENEFITS ADMIN LLC Service code 49 · EIN 45-3706480	Other Services	$152,360
S B H U LIFE AGENCY INC8+ years Service code 49 · EIN 13-2896238	Other Services	$72,293
THE ANGELL PENSION GROUP, INC.8+ years Filed as: THE ANGELL PENSION GROUP INC Service code 49 · EIN 04-2530412	Other Services	$41,923
ROBERT HALF1 year Service code 49 · EIN 94-1648752	Other Services	$37,413
PRINCIPAL LIFE INSURANCE COMPANY8+ years Service code 13 · EIN 42-0127290	Contract Administrator	$36,374
GBHE LOCAL 26 BENEFITS ADMINISTRATI8+ years Service code 49	Other Services	$29,745
MANZI & ASSOCIATES, LLC1 year Filed as: MANZI ASSOCIATES LLC Service code 10 · EIN 04-3508036	Accounting	$27,290

Plan features & details

Pension benefit codes2E2F2G2J2K3H

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.
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

3 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
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

$262K

$101 / participant

Investment mgmt$36K13.9%
Other / not subdivided$225K86.1%

% of EOY assets

0.323%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MANZI & ASSOCIATES LLC
Auditor EIN: 043508036
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$34,287

$30,147+13.7%

$58,507-41.4%

$80,169-57.2%

Participation rate

74.6%

34.4%+40.2pp

50.9%+23.8pp

72.9%+1.7pp

Annual return

9.40%

21.97%-12.6pp

4252.32%-4242.9pp

40.39%-31.0pp

Employer contribution / active EE

$234

$528-55.7%

$1,053-77.8%

$2,978-92.2%

Participant deferral / active EE

$2,100

$1,249+68.2%

$1,922+9.3%

$5,016-58.1%

Admin fee / account holder

$111

$195-43.2%

$2,486-95.6%

$145-23.7%

Provider

Service type

Compensation

GBHE LOCAL 26 BENEFITS ADMINISTRATI4 years

Filed as: GBHE LOCAL 26 BENEFITS ADMIN LLC

Service code 49 · EIN 45-3706480

Other Services

$152,360

S B H U LIFE AGENCY INC8+ years

Service code 49 · EIN 13-2896238

Other Services

$72,293

THE ANGELL PENSION GROUP, INC.8+ years

Filed as: THE ANGELL PENSION GROUP INC

Service code 49 · EIN 04-2530412

Other Services

$41,923

ROBERT HALF1 year

Service code 49 · EIN 94-1648752

Other Services

$37,413

PRINCIPAL LIFE INSURANCE COMPANY8+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$36,374

GBHE LOCAL 26 BENEFITS ADMINISTRATI8+ years

Service code 49

Other Services

$29,745

MANZI & ASSOCIATES, LLC1 year

Filed as: MANZI ASSOCIATES LLC

Service code 10 · EIN 04-3508036

Accounting

$27,290

UNITE HERE LOCAL 26 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

UNITE HERE LOCAL 26 401(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