Retirement plan

UNITED STEELWORKERS LOCAL 286 SEVERANCE/401(K) PLAN

Name: UNITED STEELWORKERS LOCAL 286 SEVERANCE/401(K) PLAN - UNITED STEELWORKERS LOCAL 286 SEVERANCE/401(K) PLAN (2018) Form 5500
Creator: UNITED STEELWORKERS LOCAL 286 SEVERANCE/401(K) PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, UNITED STEELWORKERS LOCAL 286 SEVERANCE/401(K) PLAN, UNITED STEELWORKERS LOCAL 286 SEVERANCE/401(K) PLAN

UNITED STEELWORKERS LOCAL 286 SEVERANCE/401(K) PLANdba TRUST FUND BOARD OF TRUSTEESEIN 23-2059315Plan #002PY 2018

410 N. 8TH STREET - PHILADLEPHIA, PA 191233903215-829-9212

Prospect flagsHigh retiree %Low assets / participantLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$27.3M

-4.6% from 2017

Total participants

2,531

-2.2% from 2017

Average account balance

$10,791

No prior year

Annual return

-5.41%

-20.16 pp from 2017

Benchmarks

See 391 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants1,000-4,999

Cohort391 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$42.08M

Not enough data

1 years with asset history on file

Average account balance

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

$14K

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.

3,015

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

$3.60M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+9.05%

Not enough data

1 years with return on file

Admin fee / account holder

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

$262

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 10 by compensation

Provider	Service type	Compensation
USW INDUSTRY 401(K) PLAN4+ years Filed as: USW LOCAL 286 Service code 49 · EIN 23-0724665	Other Services	$350,531
TRANSAMERICA RETIREMENT SOLUTIONS2 years Service code 12 · EIN 13-3689044	Direct payment from the plan; Finders...	$93,006
CARLO SIMONE III4+ years Filed as: CARLO SIMONE, III Service code 30 · EIN 23-0724665	Employee (plan); Other fees	$78,499
NOVAK FRANCELLA LLC4+ years Service code 10 · EIN 61-1436956	Accounting	$42,730
LITTLER MENDELSON, P.C.4+ years Service code 29 · EIN 94-2602731	Legal	$18,500
SPEAR WILDERMAN4+ years Filed as: SPEAR WILDERMAN, P.C. Service code 29 · EIN 23-2749511	Legal	$18,500
BEYER-BARBER COMPANY4+ years Filed as: BEYER BARBER COMPANY Service code 16 · EIN 23-2503024	Consulting	$18,000
MORGAN STANLEY SMITH BARNEY4+ years Service code 28 · EIN 13-2655998	Investment Management	$12,500
RICHARD J. WOLF & COMPANY1 year Filed as: RICHARD A. COX Service code 10 1105 WELLESLEY TERRACE · WEST CHESTER, PA 19382	Accounting	$5,390
NATIONAL FINANCIAL SERVICES2 years Service code 33 · EIN 04-3523567	Securities brokerage; Securities brok...	$0

Plan features & details

Pension benefit codes2C2E2H2J

Plan features

2C
Money purchase plan
Money purchase pension plan other than a target benefit plan.
2E
Profit-sharing
Profit-sharing plan.
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.

Opportunity flags

4 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.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

Expense breakdown

Schedule H Part II

Admin total

$464K

$345 / participant

Investment mgmt$13K2.7%
Other / not subdivided$452K97.3%

% of EOY assets

1.699%

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: NOVAK FRANCELLA LLC
Auditor EIN: 611436956
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$10,791

$134,045-91.9%

$80,022-86.5%

$75,289-85.7%

Participation rate

100.0%

85.8%+14.2pp

75.8%+24.2pp

72.4%+27.6pp

Annual return

-5.41%

-0.56%-4.8pp

11.22%-16.6pp

-0.04%-5.4pp

Employer contribution / active EE

$1,746

$3,492-50.0%

$2,468-29.3%

$2,405-27.4%

Participant deferral / active EE

$470

$4,976-90.6%

$3,686-87.2%

$3,739-87.4%

Admin fee / account holder

$183

$124+48.0%

$6,521-97.2%

$102+79.2%

Provider

Service type

Compensation

USW INDUSTRY 401(K) PLAN4+ years

Filed as: USW LOCAL 286

Service code 49 · EIN 23-0724665

Other Services

$350,531

TRANSAMERICA RETIREMENT SOLUTIONS2 years

Service code 12 · EIN 13-3689044

Direct payment from the plan; Finders...

$93,006

CARLO SIMONE III4+ years

Filed as: CARLO SIMONE, III

Service code 30 · EIN 23-0724665

Employee (plan); Other fees

$78,499

NOVAK FRANCELLA LLC4+ years

Service code 10 · EIN 61-1436956

Accounting

$42,730

LITTLER MENDELSON, P.C.4+ years

Service code 29 · EIN 94-2602731

Legal

$18,500

SPEAR WILDERMAN4+ years

Filed as: SPEAR WILDERMAN, P.C.

Service code 29 · EIN 23-2749511

Legal

$18,500

BEYER-BARBER COMPANY4+ years

Filed as: BEYER BARBER COMPANY

Service code 16 · EIN 23-2503024

Consulting

$18,000

MORGAN STANLEY SMITH BARNEY4+ years

Service code 28 · EIN 13-2655998

Investment Management

$12,500

RICHARD J. WOLF & COMPANY1 year

Filed as: RICHARD A. COX

Service code 10

1105 WELLESLEY TERRACE · WEST CHESTER, PA 19382

Accounting

$5,390

NATIONAL FINANCIAL SERVICES2 years

Service code 33 · EIN 04-3523567

Securities brokerage; Securities brok...

UNITED STEELWORKERS LOCAL 286 SEVERANCE/401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

UNITED STEELWORKERS LOCAL 286 SEVERANCE/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