Retirement plan

BAC LOCAL 5 NEW YORK ANNUITY PLAN

Name: BAC LOCAL 5 NEW YORK ANNUITY PLAN - BAC LOCAL 5 NEW YORK ANNUITY PLAN (2024) Form 5500
Creator: BAC LOCAL 5 NEW YORK ANNUITY PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BAC LOCAL 5 NEW YORK ANNUITY PLAN, BAC LOCAL 5 NEW YORK ANNUITY PLAN

BAC LOCAL 5 NEW YORK ANNUITY PLANEIN 23-7107109Plan #002PY 2024

66-05 WOODHAVEN BLVD - REGO PARK, NY 113745227718-459-5800

Prospect flagsLow assets / participantLow employer contribution

How to read this page

Total assets (EOY)

$25.4M

+11.8% from 2023

Total participants

1,723

-4.6% from 2023

Average account balance

$14,722

+17.2% from 2023

Annual return

12.78%

-2.16 pp from 2023

Benchmarks

See 560 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort560 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$25.37M

Not enough data

1 years with asset history on file

Average account balance

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

$15K

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.

1,723

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

$1.16M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$873

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

+12.78%

Not enough data

1 years with return on file

Admin fee / account holder

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

$133

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 9 by compensation

Provider	Service type	Compensation
MERRILL LYNCH PIERCE FENNER & SMITH10+ years Filed as: MERRILL LYNCH, PIERCE, FENNER AND S Service code 27 · EIN 13-5674085	Advisory (Plan)	$58,929
PENSION ASSURANCE LLP5 years Filed as: PENSION AND ANNUITY PLAN OF BPF Service code 14 · EIN 51-6135291	Plan Administrator	$34,153
PIMCO FUNDS10+ years Filed as: PIMCO Service code 28 · EIN 33-0239892	Investment Management	$32,970
TEAL, BECKER & CHIARAMONTE CPAS PC10+ years Filed as: TEAL, BECKER, & CHIARAMONTE CPAS PC Service code 10 · EIN 14-1624930	Accounting	$23,000
BOSTON PARTNERS10+ years Filed as: ROBECO/BOSTON PARTNERS Service code 28 · EIN 98-0202744	Investment Management	$19,654
METROPOLITAN WEST ASSET MANAGEMENT10+ years Filed as: TCW GROUP Service code 28 · EIN 95-2749628	Investment Management	$17,146
SCHULTHEIS & PANETTIERI, LLP1 year Filed as: SCHULTHEIS & PANETTIERI LLP Service code 15 · EIN 13-1577780	Recordkeeping	$10,761
BARNES, IACCARINO & SHEPHERD LLP10+ years Filed as: BARNES, IACCARINO & SHEPHERD, LLP Service code 29 · EIN 26-3858697	Legal	$9,108
THE SEGAL COMPANY2 years Filed as: THE SEGAL COMPANY (EASTERN STATES), Service code 11 · EIN 13-1835864	Actuarial	$5,763

Plan features & details

Pension benefit codes2A2E

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).
2E
Profit-sharing
Profit-sharing plan.

Opportunity flags

2 tripped

OpportunityLow employer contribution
Employer 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.

Expense breakdown

Schedule H Part II

Admin total

$230K

$173 / participant

Recordkeeping$11K4.7%
Trustee / custodial$3260.1%
Investment mgmt$127K55.3%
Legal$9K4.0%
Actuarial$6K2.5%
Contract admin$37K16.1%
Other / not subdivided$40K17.3%

% of EOY assets

0.905%

all-in expense ratio

Categories reported

6 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: TEAL, BECKER & CHIARAMONTE CPAS, PC
Auditor EIN: 141624930
Audit fees: $23,000
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$14,722

$241,850-93.9%

$102,437-85.6%

$200,096-92.6%

Participation rate

100.0%

78.3%+21.7pp

74.5%+25.5pp

72.0%+28.0pp

Annual return

12.78%

17.67%-4.9pp

24.95%-12.2pp

34.26%-21.5pp

Employer contribution / active EE

$873

$4,253-79.5%

$3,871-77.4%

$3,038-71.3%

Participant deferral / active EE

$3,961-100.0%

$5,060-100.0%

$5,090-100.0%

Admin fee / account holder

$133

$288-53.7%

$8,388-98.4%

$269-50.5%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH10+ years

Filed as: MERRILL LYNCH, PIERCE, FENNER AND S

Service code 27 · EIN 13-5674085

Advisory (Plan)

$58,929

PENSION ASSURANCE LLP5 years

Filed as: PENSION AND ANNUITY PLAN OF BPF

Service code 14 · EIN 51-6135291

Plan Administrator

$34,153

PIMCO FUNDS10+ years

Filed as: PIMCO

Service code 28 · EIN 33-0239892

Investment Management

$32,970

TEAL, BECKER & CHIARAMONTE CPAS PC10+ years

Filed as: TEAL, BECKER, & CHIARAMONTE CPAS PC

Service code 10 · EIN 14-1624930

Accounting

$23,000

BOSTON PARTNERS10+ years

Filed as: ROBECO/BOSTON PARTNERS

Service code 28 · EIN 98-0202744

Investment Management

$19,654

METROPOLITAN WEST ASSET MANAGEMENT10+ years

Filed as: TCW GROUP

Service code 28 · EIN 95-2749628

Investment Management

$17,146

SCHULTHEIS & PANETTIERI, LLP1 year

Filed as: SCHULTHEIS & PANETTIERI LLP

Service code 15 · EIN 13-1577780

Recordkeeping

$10,761

BARNES, IACCARINO & SHEPHERD LLP10+ years

Filed as: BARNES, IACCARINO & SHEPHERD, LLP

Service code 29 · EIN 26-3858697

Legal

$9,108

THE SEGAL COMPANY2 years

Filed as: THE SEGAL COMPANY (EASTERN STATES),

Service code 11 · EIN 13-1835864

Actuarial

$5,763

BAC LOCAL 5 NEW YORK ANNUITY PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BAC LOCAL 5 NEW YORK ANNUITY 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