Retirement plan

SPRINKLER FITTERS AND APPRENTICES LOCAL 704 DEFINED CONTRIBUTION PENSION FUND PLAN

Name: SPRINKLER FITTERS AND APPRENTICES LOCAL 704 - SPRINKLER FITTERS AND APPRENTICES LOCAL 704 DEFINED CONTRIBUTION PENSION FUND PLAN (2016) Form 5500
Creator: SPRINKLER FITTERS AND APPRENTICES LOCAL 704
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SPRINKLER FITTERS AND APPRENTICES LOCAL 704 DEFINED CONTRIBUTION PENSION FUND PLAN, SPRINKLER FITTERS AND APPRENTICES LOCAL 704

SPRINKLER FITTERS AND APPRENTICES LOCAL 704EIN 35-2328542Plan #001PY 2016

700 TOWER DR SUITE 300 - TROY, MI 48098248-813-9800LinkedIn201-500 employeesinsurance

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$49.4M

+2.5% from 2015

Total participants

404

-19.0% from 2015

Average account balance

$123,579

-1.1% from 2015

Annual return

6.03%

+6.33 pp from 2015

Benchmarks

See 1,433 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,433 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$98.26M

Not enough data

1 years with asset history on file

Average account balance

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

$172K

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.

570

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$6.85M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+12.01%

Not enough data

1 years with return on file

Admin fee / account holder

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

$665

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 4 by compensation

Provider	Service type	Compensation
MORGAN STANLEY SMITH BARNEY2+ years Filed as: MORGAN STANLEY Service code 27	Advisory (Plan)	$40,000
O'SULLIVAN ASSOCIATES2+ years Filed as: SULLIVAN,WARD, ASHER & PATTON Service code 29 25800 NORTHWESTERN HWY · SOUTHFIELD, MI 48075	Legal	$39,002
BENESYS, INC.2+ years Filed as: BENESYS,INC Service code 13 700 TOWER DRIVE,SUITE 300 · TROY, MI 48098	Contract Administrator	$26,294
CASTIGLIA LLP2+ years Filed as: CASTIGLIA, LLP Service code 10 · EIN 46-2725636	Accounting	$11,000

Plan features & details

Pension benefit codes2F2E2G2K2T

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.
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

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

$131K

$331 / participant

Investment mgmt$40K30.6%
Contract admin$26K20.1%
Other / not subdivided$64K49.2%

% of EOY assets

0.264%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CASTIGLIA, LLP
Auditor EIN: 462725636
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$123,579

$71,802+72.1%

$133,975-7.8%

$57,658+114.3%

Participation rate

99.0%

85.5%+13.5pp

87.1%+11.9pp

70.2%+28.8pp

Annual return

6.03%

13.51%-7.5pp

29.29%-23.3pp

5.13%+0.9pp

Employer contribution / active EE

$6,262

$3,161+98.1%

$5,211+20.2%

$1,974+217.3%

Participant deferral / active EE

$4,606-100.0%

$6,282-100.0%

$3,061-100.0%

Admin fee / account holder

$326

$88+272.3%

$9,324-96.5%

$95+245.3%

Provider

Service type

Compensation

MORGAN STANLEY SMITH BARNEY2+ years

Filed as: MORGAN STANLEY

Service code 27

Advisory (Plan)

$40,000

O'SULLIVAN ASSOCIATES2+ years

Filed as: SULLIVAN,WARD, ASHER & PATTON

Service code 29

25800 NORTHWESTERN HWY · SOUTHFIELD, MI 48075

Legal

$39,002

BENESYS, INC.2+ years

Filed as: BENESYS,INC

Service code 13

700 TOWER DRIVE,SUITE 300 · TROY, MI 48098

Contract Administrator

$26,294

CASTIGLIA LLP2+ years

Filed as: CASTIGLIA, LLP

Service code 10 · EIN 46-2725636

Accounting

$11,000

SPRINKLER FITTERS AND APPRENTICES LOCAL 704 DEFINED CONTRIBUTION PENSION FUND PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SPRINKLER FITTERS AND APPRENTICES LOCAL 704 DEFINED CONTRIBUTION PENSION FUND 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