Retirement plan

IRON WORKERS LOCAL 401 ANNUITY FUND

Name: BOARD OF TRUSTEES IRON WORKERS LOCAL 401 ANNUITY FUND - IRON WORKERS LOCAL 401 ANNUITY FUND (2016) Form 5500
Creator: BOARD OF TRUSTEES IRON WORKERS LOCAL 401 ANNUITY FUND
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IRON WORKERS LOCAL 401 ANNUITY FUND, BOARD OF TRUSTEES IRON WORKERS LOCAL 401 ANNUITY FUND

BOARD OF TRUSTEES IRON WORKERS LOCAL 401 ANNUITY FUNDEIN 23-2191989Plan #001PY 2016

11600 NORCOM ROAD - PHILADELPHIA, PA 19154215-676-3000

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$108.9M

+3.7% from 2015

Total participants

2,068

+2.0% from 2015

Average account balance

$52,674

+1.6% from 2015

Annual return

6.34%

+4.51 pp from 2015

Benchmarks

See 1,433 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,433 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$139.75M

Not enough data

1 years with asset history on file

Average account balance

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

$75K

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.

1,866

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

$11.25M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+10.47%

Not enough data

1 years with return on file

Admin fee / account holder

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

$503

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 of 11 by compensation

Provider	Service type	Compensation
MERRILL LYNCH PIERCE FENNER & SMITH2+ years Filed as: MERRILL LYNCH Service code 28 · EIN 13-2418191	Investment Management	$157,479
IRON WORKERS LOCAL 4012+ years Service code 14 · EIN 23-0724500	Plan Administrator	$134,831
LOOMIS SAYLES2+ years Service code 28 ONE FINANCIAL CENTER · BOSTON, MA 02111	Investment Management	$86,749
ATLANTA CAPITAL MANAGEMENT2+ years Filed as: ATLANTA SOSNOFF CAPITAL Service code 28 101 PARK AVENUE · NEW YORK, NY 10178	Investment Management	$86,425
MD SASS2+ years Filed as: M.D. SASS ASSOCIATES, INC. Service code 28 · EIN 13-2704843	Investment Management	$51,493
METROPOLITAN WEST ASSET MANAGEMENT2+ years Filed as: TCW INVESTMENT MANAGEMENT COMPANY Service code 28 1251 AVENUE OF THE AMERICAS · NEW YORK, NY 10020	Investment Management	$44,193
AEW CAPITAL MANAGEMENT1 year Filed as: AEW NATIXIS REITS Service code 28 1875 I STREET, NW · WASHINGTON, DC 20006	Investment Management	$36,949
CLEARY, JOSEM & TRIGIANI LLP2+ years Filed as: CLEARY & JOSEM, LLP Service code 29 · EIN 23-2657967	Legal	$36,638
PNC BANK, N.A.2+ years Service code 28 · EIN 22-1146430	Investment Management	$30,034
FISCHER DORWART, P.C.2+ years Service code 10 · EIN 23-2247478	Accounting	$24,941

Plan features & details

Pension benefit codes2A

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).

Opportunity flags

2 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.

Expense breakdown

Schedule H Part II

Admin total

$731K

$757 / participant

Investment mgmt$494K67.6%
Other / not subdivided$237K32.4%

% of EOY assets

0.671%

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: FISCHER DORWART, P.C.
Auditor EIN: 232247478
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$52,674

$71,802-26.6%

$133,975-60.7%

$57,658-8.6%

Participation rate

100.0%

85.5%+14.5pp

87.1%+12.9pp

70.2%+29.8pp

Annual return

6.34%

13.51%-7.2pp

29.29%-23.0pp

5.13%+1.2pp

Employer contribution / active EE

$8,098

$3,161+156.2%

$5,211+55.4%

$1,974+310.3%

Participant deferral / active EE

$4,606-100.0%

$6,282-100.0%

$3,061-100.0%

Admin fee / account holder

$353

$88+303.0%

$9,324-96.2%

$95+273.7%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH2+ years

Filed as: MERRILL LYNCH

Service code 28 · EIN 13-2418191

Investment Management

$157,479

IRON WORKERS LOCAL 4012+ years

Service code 14 · EIN 23-0724500

Plan Administrator

$134,831

LOOMIS SAYLES2+ years

Service code 28

ONE FINANCIAL CENTER · BOSTON, MA 02111

Investment Management

$86,749

ATLANTA CAPITAL MANAGEMENT2+ years

Filed as: ATLANTA SOSNOFF CAPITAL

Service code 28

101 PARK AVENUE · NEW YORK, NY 10178

Investment Management

$86,425

MD SASS2+ years

Filed as: M.D. SASS ASSOCIATES, INC.

Service code 28 · EIN 13-2704843

Investment Management

$51,493

METROPOLITAN WEST ASSET MANAGEMENT2+ years

Filed as: TCW INVESTMENT MANAGEMENT COMPANY

Service code 28

1251 AVENUE OF THE AMERICAS · NEW YORK, NY 10020

Investment Management

$44,193

AEW CAPITAL MANAGEMENT1 year

Filed as: AEW NATIXIS REITS

Service code 28

1875 I STREET, NW · WASHINGTON, DC 20006

Investment Management

$36,949

CLEARY, JOSEM & TRIGIANI LLP2+ years

Filed as: CLEARY & JOSEM, LLP

Service code 29 · EIN 23-2657967

Legal

$36,638

PNC BANK, N.A.2+ years

Service code 28 · EIN 22-1146430

Investment Management

$30,034

FISCHER DORWART, P.C.2+ years

Service code 10 · EIN 23-2247478

Accounting

$24,941

IRON WORKERS LOCAL 401 ANNUITY FUND

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IRON WORKERS LOCAL 401 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