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 (2018) 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 2018

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

Prospect flagsLow returnsFailed to transmit contributions

How to read this page

Total assets (EOY)

$72.7M

-9.8% from 2017

Total participants

2,041

+2.1% from 2017

Average account balance

$37,829

-10.5% from 2017

Annual return

-7.51%

-23.98 pp from 2017

Benchmarks

See 405 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort405 peers

Snapshot2018

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 10 of 11 by compensation

Provider	Service type	Compensation
SAGEVIEW ADVISORY GROUP, LLC4+ years Service code 27 · EIN 33-0818667	Advisory (Plan)	$86,962
BUKATY COMPANIES O'RENICK WEALTH1 year Filed as: BUKATY AUBRY & HUNTSMAN CHARTERED Service code 29 · EIN 48-1210927	Legal	$83,225
TIC INTERNATIONAL CORPORATION4+ years Service code 14 · EIN 13-2600875	Plan Administrator	$27,396
DOUTHIT FRETS ROUSE GENTILE RHODES1 year Filed as: ROUSE FRETS GENTILE & RHODES LLC Service code 29 · EIN 43-1706479	Legal	$23,538
MASSACHUSETTS MUTUAL LIFE INS. CO.4+ years Service code 52 · EIN 04-1590850	Indirect Investment Fees	$13,410
COOK CASTLE ASSOCIATES, LLC1 year Service code 22 · EIN 45-5308542	Insurance Broker	$6,985
NOVAK BIRKS, P.C.4+ years Service code 10 · EIN 43-1122456	Accounting	$6,499
AMERICAN FUNDS2 years Service code 52 · EIN 95-1411037	Indirect Investment Fees	$0
COLUMBIA1 year Service code 52 · EIN 94-1687665	Indirect Investment Fees	$0
MORGAN STANLEY SMITH BARNEY2 years Filed as: JP MORGAN Service code 52 · EIN 33-1043149	Indirect Investment Fees	$0

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

2 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).

Expense breakdown

Schedule H Part II

Admin total

$408K

$221 / participant

Investment mgmt$98K24.1%
Contract admin$48K11.8%
Other / not subdivided$261K64.0%

% of EOY assets

0.562%

all-in expense ratio

Categories reported

2 / 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

$37,829

$60,396-37.4%

$83,830-54.9%

$75,289-49.8%

Participation rate

93.5%

80.7%+12.8pp

76.1%+17.3pp

72.4%+21.1pp

Annual return

-7.51%

3.84%-11.4pp

850.97%-858.5pp

-0.04%-7.5pp

Employer contribution / active EE

$3,343-100.0%

$3,631-100.0%

$2,405-100.0%

Participant deferral / active EE

$2,353

$2,922-19.5%

$4,082-42.4%

$3,739-37.1%

Admin fee / account holder

$212

$141+50.4%

$5,479-96.1%

$102+107.7%

Provider

Service type

Compensation

SAGEVIEW ADVISORY GROUP, LLC4+ years

Service code 27 · EIN 33-0818667

Advisory (Plan)

$86,962

BUKATY COMPANIES O'RENICK WEALTH1 year

Filed as: BUKATY AUBRY & HUNTSMAN CHARTERED

Service code 29 · EIN 48-1210927

Legal

$83,225

TIC INTERNATIONAL CORPORATION4+ years

Service code 14 · EIN 13-2600875

Plan Administrator

$27,396

DOUTHIT FRETS ROUSE GENTILE RHODES1 year

Filed as: ROUSE FRETS GENTILE & RHODES LLC

Service code 29 · EIN 43-1706479

Legal

$23,538

MASSACHUSETTS MUTUAL LIFE INS. CO.4+ years

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$13,410

COOK CASTLE ASSOCIATES, LLC1 year

Service code 22 · EIN 45-5308542

Insurance Broker

$6,985

NOVAK BIRKS, P.C.4+ years

Service code 10 · EIN 43-1122456

Accounting

$6,499

AMERICAN FUNDS2 years

Service code 52 · EIN 95-1411037

Indirect Investment Fees

COLUMBIA1 year

Service code 52 · EIN 94-1687665

Indirect Investment Fees

MORGAN STANLEY SMITH BARNEY2 years

Filed as: JP MORGAN

Service code 52 · EIN 33-1043149

Indirect Investment Fees

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