Retirement plan

IRONWORKERS LOCAL NO. 6 PROFIT SHARING PLAN

Name: BOARD OF TRUSTEES, IRONWORKERS LOCAL NO. 6 PROFIT SHARING PLAN - IRONWORKERS LOCAL NO. 6 PROFIT SHARING PLAN (2016) Form 5500
Creator: BOARD OF TRUSTEES, IRONWORKERS LOCAL NO. 6 PROFIT SHARING PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IRONWORKERS LOCAL NO. 6 PROFIT SHARING PLAN, BOARD OF TRUSTEES, IRONWORKERS LOCAL NO. 6 PROFIT SHARING PLAN

BOARD OF TRUSTEES, IRONWORKERS LOCAL NO. 6 PROFIT SHARING PLANEIN 26-1899241Plan #001PY 2016

196 ORCHARD PARK ROAD - WEST SENECA, NY 14224716-828-1400

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$16.3M

No prior year

Total participants

378

No prior year

Average account balance

$43,086

No prior year

Annual return

-0.36%

No prior year

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

$32.16M

Not enough data

1 years with asset history on file

Average account balance

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

$86K

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.

374

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

$3.02M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+8.31%

Not enough data

1 years with return on file

Admin fee / account holder

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

$479

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 5 by compensation

Provider	Service type	Compensation
ARCARA ZUCARELLI LENDA & ASSOCIATES1+ years Service code 10 · EIN 47-1793720	Accounting	$28,777
THE BOGDAHN GROUP1+ years Filed as: BOGDAHN GROUP Service code 27 · EIN 59-3676225	Advisory (Plan)	$12,000
BENESYS, INC.1+ years Filed as: INNOVATIVE SOFTWARE SOLUTIONS Service code 15 · EIN 23-2182079	Recordkeeping	$8,943
BMO HARRIS BANK NA1+ years Filed as: M&T BANK Service code 19 · EIN 16-0538020	Securities Custodian	$7,352
LIPSITZ GREEN SCIME & CAMBRIA1+ years Service code 29 · EIN 16-0905097	Legal	$5,478

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

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

$140K

$379 / participant

Investment mgmt$19K13.8%
Other / not subdivided$121K86.2%

% of EOY assets

0.861%

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: ARCARA ZUCARELLI LENDA & ASSOCIATES
Auditor EIN: 471793720
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$43,086

$71,802-40.0%

$133,975-67.8%

$57,658-25.3%

Participation rate

100.0%

85.5%+14.5pp

87.1%+12.9pp

70.2%+29.8pp

Annual return

-0.36%

13.51%-13.9pp

29.29%-29.7pp

5.13%-5.5pp

Employer contribution / active EE

$6,247

$3,161+97.6%

$5,211+19.9%

$1,974+216.5%

Participant deferral / active EE

$4,606-100.0%

$6,282-100.0%

$3,061-100.0%

Admin fee / account holder

$371

$88+323.3%

$9,324-96.0%

$95+292.6%

Provider

Service type

Compensation

ARCARA ZUCARELLI LENDA & ASSOCIATES1+ years

Service code 10 · EIN 47-1793720

Accounting

$28,777

THE BOGDAHN GROUP1+ years

Filed as: BOGDAHN GROUP

Service code 27 · EIN 59-3676225

Advisory (Plan)

$12,000

BENESYS, INC.1+ years

Filed as: INNOVATIVE SOFTWARE SOLUTIONS

Service code 15 · EIN 23-2182079

Recordkeeping

$8,943

BMO HARRIS BANK NA1+ years

Filed as: M&T BANK

Service code 19 · EIN 16-0538020

Securities Custodian

$7,352

LIPSITZ GREEN SCIME & CAMBRIA1+ years

Service code 29 · EIN 16-0905097

Legal

$5,478

IRONWORKERS LOCAL NO. 6 PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IRONWORKERS LOCAL NO. 6 PROFIT SHARING 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