Retirement plan

LOCAL 74 U.S.W.U. 401(K) SAVINGS PLAN

Name: BOARD OF TRUSTEES OF LOCAL 74 U.S.W.U 401(K) SAVINGS PLAN - LOCAL 74 U.S.W.U. 401(K) SAVINGS PLAN (2024) Form 5500
Creator: BOARD OF TRUSTEES OF LOCAL 74 U.S.W.U 401(K) SAVINGS PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LOCAL 74 U.S.W.U. 401(K) SAVINGS PLAN, BOARD OF TRUSTEES OF LOCAL 74 U.S.W.U 401(K) SAVINGS PLAN

BOARD OF TRUSTEES OF LOCAL 74 U.S.W.U 401(K) SAVINGS PLANEIN 27-2570808Plan #001PY 2024

36-36 33RD STREET STE 202 - LONG ISLAND CITY, NY 111062329718-729-7400

Prospect flagsLow returnsLow assets / participantLow participant contribution

How to read this page

Total assets (EOY)

$13.3M

+17.4% from 2023

Total participants

906

+3.1% from 2023

Average account balance

$14,719

+13.9% from 2023

Annual return

10.42%

+0.26 pp from 2023

Benchmarks

See 1,550 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,550 peers

Snapshot2024

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$13.34M

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.

906

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

$2.12M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+10.42%

Not enough data

1 years with return on file

Admin fee / account holder

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

$259

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

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Service providers

Top 5 by compensation

Provider	Service type	Compensation
JOHN HANCOCK LIFE INSURANCE COMPANY1 year Filed as: JOHN HANCOCK RETIREMENT PLAN SCVS Service code 15 · EIN 01-0233346 690 CANTON STREET · WESTWOOD, MA 02090	Recordkeeping	$200,811
PRUDENTIAL RETIREMENT INSURANCE AND10+ years Filed as: PRUDENTIAL RETIREMENT SERVICES Service code 15 · EIN 06-1050034 30 SCRANTON OFFICE PARK · SCRANTON, PA 18507	Recordkeeping	$34,828
REYNOLDS CONSULTING SERVICES10+ years Filed as: REYNOLDS CONSULTING SERVICES LLC Service code 27 · EIN 20-1899564 25 NEWBRIDGE ROAD · HICKSVILLE, NY 11801	Advisory (Plan)	$32,000
FITZSIMMONS ABRAMS, LLP10+ years Service code 10 · EIN 13-2858927 7600 JERICHO TPKE STE 210 · WOODBURY, NY 11797	Accounting	$15,000
FUIMAN MOGILA, LLP2 years Service code 29 · EIN 93-1652658 5 PENN PLAZA, 23RD FLOOR · NEW YORK, NY 10001	Legal	$5,000

Plan features & details

Pension benefit codes2E2F2G2J2K

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.

Opportunity flags

3 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return 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

$234K

$321 / participant

Investment mgmt$32K13.8%
Legal$5K2.1%
Contract admin$114K48.5%
Other / not subdivided$83K35.6%

% of EOY assets

1.758%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: FITZSIMMONS ABRAMS, LLP
Auditor EIN: 132858927
Audit fees: $15,000
Opinion code: Unqualified

Look up a plan sponsor by EIN. Free Form 5500 search. No signup.

Metric

This plan

Peer set

Industry

Size

Avg account balance

$14,719

$129,095-88.6%

$184,200-92.0%

$77,671-81.0%

Participation rate

100.0%

87.3%+12.7pp

86.8%+13.2pp

70.6%+29.4pp

Annual return

10.42%

33.29%-22.9pp

28.80%-18.4pp

31.21%-20.8pp

Employer contribution / active EE

$1,942

$4,410-56.0%

$6,424-69.8%

$2,726-28.8%

Participant deferral / active EE

$952

$7,300-87.0%

$9,132-89.6%

$4,648-79.5%

Admin fee / account holder

$259

$256+1.2%

$13,907-98.1%

$430-39.9%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY1 year

Filed as: JOHN HANCOCK RETIREMENT PLAN SCVS

Service code 15 · EIN 01-0233346

690 CANTON STREET · WESTWOOD, MA 02090

Recordkeeping

$200,811

PRUDENTIAL RETIREMENT INSURANCE AND10+ years

Filed as: PRUDENTIAL RETIREMENT SERVICES

Service code 15 · EIN 06-1050034

30 SCRANTON OFFICE PARK · SCRANTON, PA 18507

Recordkeeping

$34,828

REYNOLDS CONSULTING SERVICES10+ years

Filed as: REYNOLDS CONSULTING SERVICES LLC

Service code 27 · EIN 20-1899564

25 NEWBRIDGE ROAD · HICKSVILLE, NY 11801

Advisory (Plan)

$32,000

FITZSIMMONS ABRAMS, LLP10+ years

Service code 10 · EIN 13-2858927

7600 JERICHO TPKE STE 210 · WOODBURY, NY 11797

Accounting

$15,000

FUIMAN MOGILA, LLP2 years

Service code 29 · EIN 93-1652658

5 PENN PLAZA, 23RD FLOOR · NEW YORK, NY 10001

Legal

$5,000

LOCAL 74 U.S.W.U. 401(K) SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LOCAL 74 U.S.W.U. 401(K) SAVINGS 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