Retirement plan

SEIU LOCAL 200UNITED 401(K) PLAN

Name: THE BOARD OF TRUSTEES OF THE SEIU LOCAL 200UNITED 401(K) PLAN - SEIU LOCAL 200UNITED 401(K) PLAN (2024) Form 5500
Creator: THE BOARD OF TRUSTEES OF THE SEIU LOCAL 200UNITED 401(K) PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SEIU LOCAL 200UNITED 401(K) PLAN, THE BOARD OF TRUSTEES OF THE SEIU LOCAL 200UNITED 401(K) PLAN

THE BOARD OF TRUSTEES OF THE SEIU LOCAL 200UNITED 401(K) PLANEIN 27-4279216Plan #001PY 2024

250 SOUTH CLINTON STREET, SUITE 200 - SYRACUSE, NY 13202315-218-6513LinkedIn51-200 employeesinsurance

Prospect flagsLow assets / participantLow employer contributionLow participant contribution

How to read this page

Total assets (EOY)

$5.7M

+15.6% from 2023

Total participants

201

-27.2% from 2023

Average account balance

$34,721

+21.2% from 2023

Annual return

16.61%

+0.06 pp from 2023

Benchmarks

See 2,173 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,173 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.69M

Not enough data

1 years with asset history on file

Average account balance

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

$35K

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.

164

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.

78.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$263K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+16.61%

Not enough data

1 years with return on file

Admin fee / account holder

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

$190

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 2 by compensation

Provider	Service type	Compensation
BLITMAN & KING8 years Filed as: BLITMAN & KING, LLP Service code 29 · EIN 16-1047304 443 NORTH FRANKLIN ST, STE 300 · SYRACUSE, NY 13204	Legal	$25,200
BONADIO & CO., LLP2 years Filed as: BONADIO & CO., LLC Service code 10 · EIN 16-1131146 432 NORTH FRANKLIN STREET, SUITE 60 · SYRACUSE, NY 13204	Accounting	$8,400

Plan features & details

Pension benefit codes2E2F2G2J2K2T

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.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.

Opportunity flags

3 tripped

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

$31K

$186 / participant

Recordkeeping$2K7.1%
Legal$14K45.0%
Salaries / allowances$6K19.6%
Other / not subdivided$9K28.3%

% of EOY assets

0.548%

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: BONADIO & CO., LLP
Auditor EIN: 161131146
Audit fees: $4,680
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$34,721

$122,063-71.6%

$184,256-81.2%

$74,478-53.4%

Participation rate

78.0%

85.5%-7.5pp

86.8%-8.8pp

67.2%+10.8pp

Annual return

16.61%

19.92%-3.3pp

28.85%-12.2pp

1370.56%-1354.0pp

Employer contribution / active EE

$424

$4,539-90.7%

$6,427-93.4%

$2,626-83.9%

Participant deferral / active EE

$1,142

$7,144-84.0%

$9,133-87.5%

$4,350-73.7%

Admin fee / account holder

$190

$1,253-84.8%

$13,899-98.6%

$1,946-90.2%

Provider

Service type

Compensation

BLITMAN & KING8 years

Filed as: BLITMAN & KING, LLP

Service code 29 · EIN 16-1047304

443 NORTH FRANKLIN ST, STE 300 · SYRACUSE, NY 13204

Legal

$25,200

BONADIO & CO., LLP2 years

Filed as: BONADIO & CO., LLC

Service code 10 · EIN 16-1131146

432 NORTH FRANKLIN STREET, SUITE 60 · SYRACUSE, NY 13204

Accounting

$8,400

SEIU LOCAL 200UNITED 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SEIU LOCAL 200UNITED 401(K) 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