Retirement plan

PLUMBERS & PIPEFITTERS U.A. LOCAL 85 RETIREMENT AND 401K FUND

Name: JOINT BOARD OF TRUSTEES PLUMBERS & PIPEFITTERS LOCAL 85 RETIREMENT - PLUMBERS & PIPEFITTERS U.A. LOCAL 85 RETIREMENT AND 401K FUND (2023) Form 5500
Creator: JOINT BOARD OF TRUSTEES PLUMBERS & PIPEFITTERS LOCAL 85 RETIREMENT
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PLUMBERS & PIPEFITTERS U.A. LOCAL 85 RETIREMENT AND 401K FUND, JOINT BOARD OF TRUSTEES PLUMBERS & PIPEFITTERS LOCAL 85 RETIREMENT

JOINT BOARD OF TRUSTEES PLUMBERS & PIPEFITTERS LOCAL 85 RETIREMENTEIN 32-0478132Plan #005PY 2023

700 TOWER DRIVE, SUITE 300 - TROY, MI 48098248-813-9800

Prospect flagsHigh feesLow assets / participant

How to read this page

Total assets (EOY)

$8.9M

+34.0% from 2022

Total participants

629

+21.7% from 2022

Average account balance

$14,114

+10.2% from 2022

Annual return

15.25%

+32.97 pp from 2022

Benchmarks

See 1,502 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,502 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.68M

Not enough data

1 years with asset history on file

Average account balance

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

$17K

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.

689

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.

99.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.96M

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

+11.87%

Not enough data

1 years with return on file

Admin fee / account holder

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

$311

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
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER TRUST COMPANY, LLC Service code 13 · EIN 84-1455663 8515 EAST ORCHARD RD · GREENWOOD VILIAGE, CO 80111	Contract Administrator	$38,497
NOVARA, TESIJA & CATENACCI, PLLC1 year Service code 29 · EIN 38-3763096 888 W BIG BEAVER RD 600 · TROY, MI 48084	Legal	$31,779
BULTYNCK & CO., P.L.L.C.1 year Filed as: BULTYNCK & CO., PLLC Service code 10 · EIN 20-3920878 15985 CANAL ROAD · CLINTON TOWNSHIP, MI 48038	Accounting	$9,600
BENESYS, INC.7 years Service code 10 · EIN 38-2383171 700 TOWER DRIVE STE 300 · TROY, MI 48098	Accounting	$6,714
MARQUETTE ASSOCIATES1 year Filed as: MARQUETTE ASSOCIATES, INC. Service code 16 · EIN 36-3485298 180 N LA SALLE ST STE 350 · CHICAGO, IL 60601	Consulting	$5,457

Plan features & details

Pension benefit codes2F2G2J

Plan features

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.

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 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

$191K

$304 / participant

Investment mgmt$135K70.5%
Legal$36K19.1%
Contract admin$6K3.2%
Other / not subdivided$14K7.3%

% of EOY assets

2.154%

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: BULTYNCK & CO., P.L.L.C.
Auditor EIN: 203920878
Audit fees: $9,891
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$14,114

$93,010-84.8%

$96,538-85.4%

$74,473-81.0%

Participation rate

100.0%

71.6%+28.4pp

74.3%+25.7pp

70.7%+29.3pp

Annual return

15.25%

37.50%-22.2pp

35.74%-20.5pp

34.36%-19.1pp

Employer contribution / active EE

$2,539

$3,427-25.9%

$3,740-32.1%

$2,638-3.8%

Participant deferral / active EE

$3,971-100.0%

$4,880-100.0%

$4,530-100.0%

Admin fee / account holder

$304

$633-52.0%

$6,737-95.5%

$347-12.4%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER TRUST COMPANY, LLC

Service code 13 · EIN 84-1455663

8515 EAST ORCHARD RD · GREENWOOD VILIAGE, CO 80111

Contract Administrator

$38,497

NOVARA, TESIJA & CATENACCI, PLLC1 year

Service code 29 · EIN 38-3763096

888 W BIG BEAVER RD 600 · TROY, MI 48084

Legal

$31,779

BULTYNCK & CO., P.L.L.C.1 year

Filed as: BULTYNCK & CO., PLLC

Service code 10 · EIN 20-3920878

15985 CANAL ROAD · CLINTON TOWNSHIP, MI 48038

Accounting

$9,600

BENESYS, INC.7 years

Service code 10 · EIN 38-2383171

700 TOWER DRIVE STE 300 · TROY, MI 48098

Accounting

$6,714

MARQUETTE ASSOCIATES1 year

Filed as: MARQUETTE ASSOCIATES, INC.

Service code 16 · EIN 36-3485298

180 N LA SALLE ST STE 350 · CHICAGO, IL 60601

Consulting

$5,457

PLUMBERS & PIPEFITTERS U.A. LOCAL 85 RETIREMENT AND 401K FUND

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PLUMBERS & PIPEFITTERS U.A. LOCAL 85 RETIREMENT AND 401K FUND

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