Retirement plan

SHEET METAL WORKERS LOCAL NO. 2 401(K) PLAN

Name: BOARD OF TRUSTEES SHEET METAL WORKERS LOCAL 2 - SHEET METAL WORKERS LOCAL NO. 2 401(K) PLAN (2015) Form 5500
Creator: BOARD OF TRUSTEES SHEET METAL WORKERS LOCAL 2
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SHEET METAL WORKERS LOCAL NO. 2 401(K) PLAN, BOARD OF TRUSTEES SHEET METAL WORKERS LOCAL 2

BOARD OF TRUSTEES SHEET METAL WORKERS LOCAL 2EIN 31-1648261Plan #001PY 2015

P.O. BOX 300378 - KANSAS CITY, MO 64130816-254-8021

Prospect flagsLow returnsFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$65.6M

No prior year

Total participants

1,691

No prior year

Average account balance

$40,532

No prior year

Annual return

-2.14%

No prior year

Benchmarks

See 297 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort297 peers

Snapshot2015

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

Analytics

Total assets (EOY)

Plan-year ending balance

$108.17M

Not enough data

1 years with asset history on file

Average account balance

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

$48K

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.

2,253

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.

62.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$5.75M

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

+12.41%

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

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Service providers

Top 9 by compensation

Provider	Service type	Compensation
SAGEVIEW ADVISORY GROUP, LLC1+ years Service code 27 · EIN 33-0818667	Advisory (Plan)	$81,308
DA DAVIDSON & CO1+ years Filed as: DUNN & DAVISON OF KANSAS CITY, LLC Service code 29 · EIN 27-0165995	Legal	$61,753
NOVAK BIRKS, P.C.1+ years Service code 10 · EIN 43-1122456	Accounting	$31,684
TIC INTERNATIONAL CORPORATION1+ years Service code 14 · EIN 13-2600875	Plan Administrator	$22,050
MASSACHUSETTS MUTUAL LIFE INS. CO.1+ years Service code 52 · EIN 04-1590850	Indirect Investment Fees	$11,980
JASON UNDERWOOD CPA, PLLC1+ years Filed as: JASON SMITH Service code 22 2425 S. 144TH ST., 201C · OMAHA, NE 68144	Insurance Broker	$187
BOB CADWELL1+ years Filed as: BOB NOLL Service code 22 1600 UTICA AVENUE SOUTH · MINNEAPOLIS, MN 55146	Insurance Broker	$166
TINA TATUM1+ years Filed as: TINA AMELUNG Service code 56 6405 METCALF · OVERLAND PARK, KS 66202	Non-monetary compensation	$90
JOYCE A. CAMARILLO1+ years Filed as: JOYCE JENNINGS Service code 22 6900 COLLEGE BLVD, 300 · OVERLAND PARK, KS 66211	Insurance Broker	$76

Plan features & details

Pension benefit codes2E2F2G2J2T2K

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 returns
Annual investment return 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).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$12K

$8 / participant

Contract admin$12K99.7%
Other / not subdivided$400.3%

% of EOY assets

0.018%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: NOVAK BIRKS, P.C.
Auditor EIN: 431122456
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$40,532

$55,516-27.0%

$75,784-46.5%

$59,188-31.5%

Participation rate

95.0%

73.6%+21.3pp

75.8%+19.1pp

69.4%+25.5pp

Annual return

-2.14%

-1.89%-0.2pp

9.68%-11.8pp

5.51%-7.6pp

Employer contribution / active EE

$2,604-100.0%

$3,323-100.0%

$2,098-100.0%

Participant deferral / active EE

$2,436

$2,599-6.3%

$3,652-33.3%

$3,265-25.4%

Admin fee / account holder

$110-93.2%

$5,300-99.9%

$92-91.9%

Provider

Service type

Compensation

SAGEVIEW ADVISORY GROUP, LLC1+ years

Service code 27 · EIN 33-0818667

Advisory (Plan)

$81,308

DA DAVIDSON & CO1+ years

Filed as: DUNN & DAVISON OF KANSAS CITY, LLC

Service code 29 · EIN 27-0165995

Legal

$61,753

NOVAK BIRKS, P.C.1+ years

Service code 10 · EIN 43-1122456

Accounting

$31,684

TIC INTERNATIONAL CORPORATION1+ years

Service code 14 · EIN 13-2600875

Plan Administrator

$22,050

MASSACHUSETTS MUTUAL LIFE INS. CO.1+ years

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$11,980

JASON UNDERWOOD CPA, PLLC1+ years

Filed as: JASON SMITH

Service code 22

2425 S. 144TH ST., 201C · OMAHA, NE 68144

Insurance Broker

$187

BOB CADWELL1+ years

Filed as: BOB NOLL

Service code 22

1600 UTICA AVENUE SOUTH · MINNEAPOLIS, MN 55146

Insurance Broker

$166

TINA TATUM1+ years

Filed as: TINA AMELUNG

Service code 56

6405 METCALF · OVERLAND PARK, KS 66202

Non-monetary compensation

$90

JOYCE A. CAMARILLO1+ years

Filed as: JOYCE JENNINGS

Service code 22

6900 COLLEGE BLVD, 300 · OVERLAND PARK, KS 66211

Insurance Broker

$76

SHEET METAL WORKERS LOCAL NO. 2 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SHEET METAL WORKERS LOCAL NO. 2 401(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