Retirement plan

STEAMFITTERS LOCAL 449 RETIREMENT SECURITY FUND

Name: BOARD OF TRUSTEES, STEAMFITTERS LOCAL #449 RETIREMENT SECURITY FUND - STEAMFITTERS LOCAL 449 RETIREMENT SECURITY FUND (2024) Form 5500
Creator: BOARD OF TRUSTEES, STEAMFITTERS LOCAL #449 RETIREMENT SECURITY FUND
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, STEAMFITTERS LOCAL 449 RETIREMENT SECURITY FUND, BOARD OF TRUSTEES, STEAMFITTERS LOCAL #449 RETIREMENT SECURITY FUND

BOARD OF TRUSTEES, STEAMFITTERS LOCAL #449 RETIREMENT SECURITY FUNDEIN 25-6135334Plan #001PY 2024

232 WISE ROAD, SUITE 330 - HARMONY, PA 160379201412-381-1133LinkedIn1001-5000 employeesconstruction

Prospect flagsHigh retiree %Low participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$402.4M

-5.5% from 2016

Total participants

4,857

+37.1% from 2016

Average account balance

$82,854

No prior year

Annual return

12.86%

+19.56 pp from 2016

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

$402.42M

Not enough data

1 years with asset history on file

Average account balance

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

$83K

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.

4,857

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

$15.53M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+12.86%

Not enough data

1 years with return on file

Admin fee / account holder

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

$102

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
NEWPORT GROUP, INC.5 years Filed as: NEWPORT GROUP Service code 19 TWO ALLEGHENY CENTER NOVA TOWER 2 · PITTSBURGH, PA 15212	Securities Custodian	$430,024
CDS ADMINISTRATORS8 years Service code 13 · EIN 25-1352803 232 WISE ROAD, SUITE 330 · HARMONY, PA 16037	Contract Administrator	$147,313
HENRY ROSSI & CO., LLP8 years Service code 10 · EIN 25-1698045 50 SECO ROAD, SUITE A · MONROEVILLE, PA 15146	Accounting	$34,470
THE SEGAL COMPANY6 years Filed as: SEGAL MARCO ADVISORS Service code 17 · EIN 36-3555078 1300 E. NINTH STREET, SUITE 1900 · CLEVELAND, OH 44114	Pension Consulting	$28,500
MEYER, UNKOVIC & SCOTT6 years Service code 29 · EIN 25-1008021 535 SMITHFIELD STREET, SUITE 1300 · PITTSBURGH, PA 15222	Legal	$27,162
ALLEGHENY INVESTMENTS LTD1 year Filed as: ALLEGHENY COMMERCIAL PRINTING Service code 36 1209 CHARTIERS AVE · MCKEES ROCKS, PA 15136	Copying and duplicating	$11,312
PNC BANK, N.A.1 year Filed as: PNC FINANCIAL SERVICES GROUP Service code 21 · EIN 25-1211909 249 FIFTH AVE · PITTSBURGH, PA 15222	Bank Trustee	$5,124

Plan features & details

Pension benefit codes2E2G2J

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.

Opportunity flags

3 tripped

OpportunityLow participant contribution
Participant contribution per participant 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).
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

$495K

$143 / participant

Investment mgmt$234K47.2%
Legal$29K5.9%
Contract admin$147K29.7%
Other / not subdivided$85K17.2%

% of EOY assets

0.123%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: HENRY ROSSI & CO., LLP
Auditor EIN: 251698045
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$82,854

$241,850-65.7%

$102,437-19.1%

$200,096-58.6%

Participation rate

100.0%

78.3%+21.7pp

74.5%+25.5pp

72.0%+28.0pp

Annual return

12.86%

17.67%-4.8pp

24.95%-12.1pp

34.26%-21.4pp

Employer contribution / active EE

$4,189

$4,253-1.5%

$3,871+8.2%

$3,038+37.9%

Participant deferral / active EE

$298

$3,961-92.5%

$5,060-94.1%

$5,090-94.2%

Admin fee / account holder

$102

$288-64.6%

$8,388-98.8%

$269-62.1%

Provider

Service type

Compensation

NEWPORT GROUP, INC.5 years

Filed as: NEWPORT GROUP

Service code 19

TWO ALLEGHENY CENTER NOVA TOWER 2 · PITTSBURGH, PA 15212

Securities Custodian

$430,024

CDS ADMINISTRATORS8 years

Service code 13 · EIN 25-1352803

232 WISE ROAD, SUITE 330 · HARMONY, PA 16037

Contract Administrator

$147,313

HENRY ROSSI & CO., LLP8 years

Service code 10 · EIN 25-1698045

50 SECO ROAD, SUITE A · MONROEVILLE, PA 15146

Accounting

$34,470

THE SEGAL COMPANY6 years

Filed as: SEGAL MARCO ADVISORS

Service code 17 · EIN 36-3555078

1300 E. NINTH STREET, SUITE 1900 · CLEVELAND, OH 44114

Pension Consulting

$28,500

MEYER, UNKOVIC & SCOTT6 years

Service code 29 · EIN 25-1008021

535 SMITHFIELD STREET, SUITE 1300 · PITTSBURGH, PA 15222

Legal

$27,162

ALLEGHENY INVESTMENTS LTD1 year

Filed as: ALLEGHENY COMMERCIAL PRINTING

Service code 36

1209 CHARTIERS AVE · MCKEES ROCKS, PA 15136

Copying and duplicating

$11,312

PNC BANK, N.A.1 year

Filed as: PNC FINANCIAL SERVICES GROUP

Service code 21 · EIN 25-1211909

249 FIFTH AVE · PITTSBURGH, PA 15222

Bank Trustee

$5,124

STEAMFITTERS LOCAL 449 RETIREMENT SECURITY FUND

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

STEAMFITTERS LOCAL 449 RETIREMENT SECURITY 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