Retirement plan

PLUMBERS AND STEAMFITTERS LOCAL NO 42 RETIREMENT PLAN

Name: BOARD OF TRUSTEES OF THE PLUMBERS & STEAMFITTERS LOC 42 RETIREMENT PLN - PLUMBERS AND STEAMFITTERS LOCAL NO 42 RETIREMENT PLAN (2023) Form 5500
Creator: BOARD OF TRUSTEES OF THE PLUMBERS & STEAMFITTERS LOC 42 RETIREMENT PLN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PLUMBERS AND STEAMFITTERS LOCAL NO 42 RETIREMENT PLAN, BOARD OF TRUSTEES OF THE PLUMBERS & STEAMFITTERS LOC 42 RETIREMENT PLN

BOARD OF TRUSTEES OF THE PLUMBERS & STEAMFITTERS LOC 42 RETIREMENT PLNEIN 34-1824808Plan #002PY 2023

187 WOODLAWN AVE - NORWALK, OH 448570165419-492-3030

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$22.3M

+2.9% from 2022

Total participants

437

+0.7% from 2022

Average account balance

$52,782

+1.5% from 2022

Annual return

9.61%

+22.49 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

$26.72M

Not enough data

1 years with asset history on file

Average account balance

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

$50K

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.

533

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.

95.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.80M

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

+10.90%

Not enough data

1 years with return on file

Admin fee / account holder

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

$292

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 5 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY8+ years Service code 13 · EIN 42-0127290	Contract Administrator	$86,120
BATTLES INSURANCE AGENCY1 year Service code 31 · EIN 34-0899184	Named fiduciary; Direct payment from ...	$16,435
LOCAL 1102 RWDSU1 year Filed as: LOCAL 42 PENSION PLAN Service code 14 · EIN 23-7404110	Plan Administrator	$14,269
CLIFTONLARSONALLEN LLP7 years Filed as: CLIFTONLARSONALLEN Service code 10 · EIN 41-0746749	Accounting	$12,741
WILSHIRE ASSOCIATES INCORPORATED1 year Filed as: WILSHIRE ADVISORS LLC Service code 27 · EIN 95-2755361	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2C2F2G2T

Plan features

2C
Money purchase plan
Money purchase pension plan other than a target benefit 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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$139K

$320 / participant

Contract admin$86K62.1%
Other / not subdivided$53K37.9%

% of EOY assets

0.623%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CLIFTONLARSONALLEN LLP
Auditor EIN: 410746749
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$52,782

$93,010-43.3%

$96,538-45.3%

$74,473-29.1%

Participation rate

96.5%

71.6%+25.0pp

74.3%+22.2pp

70.7%+25.8pp

Annual return

9.61%

37.50%-27.9pp

35.74%-26.1pp

34.36%-24.8pp

Employer contribution / active EE

$3,020

$3,427-11.9%

$3,740-19.3%

$2,638+14.4%

Participant deferral / active EE

$3,971-100.0%

$4,880-100.0%

$4,530-100.0%

Admin fee / account holder

$329

$633-48.1%

$6,737-95.1%

$347-5.3%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY8+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$86,120

BATTLES INSURANCE AGENCY1 year

Service code 31 · EIN 34-0899184

Named fiduciary; Direct payment from ...

$16,435

LOCAL 1102 RWDSU1 year

Filed as: LOCAL 42 PENSION PLAN

Service code 14 · EIN 23-7404110

Plan Administrator

$14,269

CLIFTONLARSONALLEN LLP7 years

Filed as: CLIFTONLARSONALLEN

Service code 10 · EIN 41-0746749

Accounting

$12,741

WILSHIRE ASSOCIATES INCORPORATED1 year

Filed as: WILSHIRE ADVISORS LLC

Service code 27 · EIN 95-2755361

Advisory (Plan)

PLUMBERS AND STEAMFITTERS LOCAL NO 42 RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PLUMBERS AND STEAMFITTERS LOCAL NO 42 RETIREMENT 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