Retirement plan

IRON WORKERS LOCAL 401 ANNUITY FUND

Name: BOARD OF TRUSTEES IRON WORKERS LOCAL 401 ANNUITY FUND - IRON WORKERS LOCAL 401 ANNUITY FUND (2017) 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 2017

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

Prospect flagsLow returnsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$125.8M

+15.5% from 2016

Total participants

2,098

+1.5% from 2016

Average account balance

$59,952

+13.8% from 2016

Annual return

12.31%

+5.97 pp from 2016

Benchmarks

See 1,453 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,453 peers

Snapshot2017

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

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Service providers

Top 10 of 11 by compensation

Provider	Service type	Compensation
IRON WORKERS LOCAL 4013+ years Service code 14 · EIN 23-0724500	Plan Administrator	$142,581
LOOMIS SAYLES3+ years Service code 28 ONE FINANCIAL CENTER · BOSTON, MA 02111	Investment Management	$130,565
ATALANTA SOSNOFF1 year Filed as: ATALANTA SOSNOFF CAPITAL Service code 28 101 PARK AVENUE · NEW YORK, NY 10178	Investment Management	$107,208
MERRILL LYNCH PIERCE FENNER & SMITH3+ years Filed as: MERRILL LYNCH Service code 28 · EIN 13-2418191	Investment Management	$102,173
METROPOLITAN WEST ASSET MANAGEMENT1 year Filed as: TCW INVESTMENT MANAGEMENT CO. Service code 28 1251 AVENUE OF THE AMERICAS · NEW YORK, NY 10020	Investment Management	$72,007
MD SASS1 year Filed as: M.D. SASS ASSOCIATES Service code 28 · EIN 13-2704843	Investment Management	$44,581
AEW CAPITAL MANAGEMENT2 years Filed as: AEW NATIXIS REITS Service code 28 1875 I STREET, NW · WASHINGTON, DC 20006	Investment Management	$42,757
PNC BANK, N.A.3+ years Service code 28 · EIN 22-1146430	Investment Management	$32,722
FISCHER DORWART, P.C.3+ years Service code 10 · EIN 23-2247478	Accounting	$22,500
THE SEGAL COMPANY3+ years Service code 11 · EIN 13-1835864	Actuarial	$15,500

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

3 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
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

$766K

$1080 / participant

Investment mgmt$532K69.5%
Other / not subdivided$233K30.5%

% of EOY assets

0.609%

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

$59,952

$81,537-26.5%

$149,721-60.0%

$69,631-13.9%

Participation rate

100.0%

86.1%+13.9pp

87.1%+12.9pp

70.7%+29.3pp

Annual return

12.31%

22.79%-10.5pp

1501.67%-1489.4pp

27571.02%-27558.7pp

Employer contribution / active EE

$11,092

$3,239+242.4%

$5,444+103.7%

$2,032+445.8%

Participant deferral / active EE

$1,677

$4,994-66.4%

$6,568-74.5%

$3,224-48.0%

Admin fee / account holder

$365

$107+241.5%

$11,282-96.8%

$110+230.5%

Provider

Service type

Compensation

IRON WORKERS LOCAL 4013+ years

Service code 14 · EIN 23-0724500

Plan Administrator

$142,581

LOOMIS SAYLES3+ years

Service code 28

ONE FINANCIAL CENTER · BOSTON, MA 02111

Investment Management

$130,565

ATALANTA SOSNOFF1 year

Filed as: ATALANTA SOSNOFF CAPITAL

Service code 28

101 PARK AVENUE · NEW YORK, NY 10178

Investment Management

$107,208

MERRILL LYNCH PIERCE FENNER & SMITH3+ years

Filed as: MERRILL LYNCH

Service code 28 · EIN 13-2418191

Investment Management

$102,173

METROPOLITAN WEST ASSET MANAGEMENT1 year

Filed as: TCW INVESTMENT MANAGEMENT CO.

Service code 28

1251 AVENUE OF THE AMERICAS · NEW YORK, NY 10020

Investment Management

$72,007

MD SASS1 year

Filed as: M.D. SASS ASSOCIATES

Service code 28 · EIN 13-2704843

Investment Management

$44,581

AEW CAPITAL MANAGEMENT2 years

Filed as: AEW NATIXIS REITS

Service code 28

1875 I STREET, NW · WASHINGTON, DC 20006

Investment Management

$42,757

PNC BANK, N.A.3+ years

Service code 28 · EIN 22-1146430

Investment Management

$32,722

FISCHER DORWART, P.C.3+ years

Service code 10 · EIN 23-2247478

Accounting

$22,500

THE SEGAL COMPANY3+ years

Service code 11 · EIN 13-1835864

Actuarial

$15,500

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