Retirement plan

PIPE FITTERS ASSOCIATION L.U. 597, U.A. 401(K) PLA

Name: TRUSTEES OF PIPE FITTERS ASSOCIATION LOCAL 597 - PIPE FITTERS ASSOCIATION L.U. 597, U.A. 401(K) PLA (2020) Form 5500
Creator: TRUSTEES OF PIPE FITTERS ASSOCIATION LOCAL 597
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PIPE FITTERS ASSOCIATION L.U. 597, U.A. 401(K) PLA, TRUSTEES OF PIPE FITTERS ASSOCIATION LOCAL 597

TRUSTEES OF PIPE FITTERS ASSOCIATION LOCAL 597EIN 36-1820310Plan #002PY 2020

45 NORTH OGDEN AVENUE - CHICAGO, IL 60607312-633-0597LinkedIn5001-10000 employeesindividual & family services

Prospect flagsFailed to transmit contributionsCorrective distributions

Top hat statement on fileNQDC

Filed June 8, 2017

Plan administrator

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45 North Ogden Avenue

Chicago State: IL Zip Code: 60607

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Plans declared (1)

Pipe Fitters' Retirement Fund, Local 597 Eligible Deferred Compensation Plan1 emp

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Total assets (EOY)

$1707.4M

-13.9% from 2016

Total participants

10,259

-4.7% from 2016

Average account balance

$187,090

-9.9% from 2016

Annual return

13.09%

-6.03 pp from 2016

Benchmarks

See 74 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants5,000-9,999

Cohort74 peers

Snapshot2020

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Analytics

Total assets (EOY)

Plan-year ending balance

$2.49B

Not enough data

1 years with asset history on file

Average account balance

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

$247K

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.

10,101

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.

85.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$169.02M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$18K

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

+12.14%

Not enough data

1 years with return on file

Admin fee / account holder

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

$64

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 by compensation

Provider	Service type	Compensation
JOHNSON & KROL, LLC6+ years Service code 29 · EIN 36-4342024	Legal	$50,489
STRATEGIC CAPITAL INVESTMENT ADVISO6+ years Filed as: STRATEGIC CAPITAL INVESTMENT ADV. Service code 27 · EIN 36-4268991	Advisory (Plan)	$40,250
MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years Filed as: MASSACHUSETTS MUTUAL LIFE INS CO Service code 21 · EIN 04-1590850	Bank Trustee	$29,513
PHIL BRUZZESE1 year Filed as: PHIL HAYES Service code 30 · EIN 36-2141703	Employee (plan)	$28,818
MICHAEL MALONEY1 year Service code 20 · EIN 36-2141703	Trustee (individual)	$17,378
LEGACY PROFESSIONALS LLP6+ years Service code 10 · EIN 32-0043599	Accounting	$16,036
BASYS4 years Service code 49 · EIN 52-1796473	Other Services	$15,987
COSTIN, HAMMEL & LEAKE L.L.C.6+ years Service code 10 · EIN 36-4198035	Accounting	$9,584
OGLETREE DEAKINS6+ years Filed as: OGLETREE DEAKINS, ET AL., P.C. Service code 29 · EIN 57-1044820	Legal	$7,276
THE SEGAL COMPANY6+ years Filed as: SEGAL SELECT INSURANCE Service code 53 · EIN 46-0619194	Insurance Commissions	$0

Reportable transactions (Schedule G)

1 row

Counterparties on defaulted loans (Part 1), defaulted leases (Part 2), and non-exempt prohibited transactions (Part 3). Presence of any row warrants fiduciary review.

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Plan features & details

Pension benefit codes2E2F2G2J2T

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.
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

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

$392K

$43 / participant

Investment mgmt$41K10.5%
Other / not subdivided$351K89.5%

% of EOY assets

0.023%

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: LEGACY PROFESSIONALS LLP
Auditor EIN: 320043599
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$187,090

$73,497+154.6%

$101,275+84.7%

$93,223+100.7%

Participation rate

87.5%

84.5%+3.0pp

75.8%+11.7pp

74.9%+12.6pp

Annual return

13.09%

11.66%+1.4pp

46.46%-33.4pp

19.29%-6.2pp

Employer contribution / active EE

$10,490

$3,600+191.4%

$3,660+186.6%

$2,680+291.5%

Participant deferral / active EE

$2,749

$3,303-16.8%

$4,370-37.1%

$4,563-39.8%

Admin fee / account holder

$43

$121-64.5%

$5,948-99.3%

$79-45.8%

Provider

Service type

Compensation

JOHNSON & KROL, LLC6+ years

Service code 29 · EIN 36-4342024

Legal

$50,489

STRATEGIC CAPITAL INVESTMENT ADVISO6+ years

Filed as: STRATEGIC CAPITAL INVESTMENT ADV.

Service code 27 · EIN 36-4268991

Advisory (Plan)

$40,250

MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years

Filed as: MASSACHUSETTS MUTUAL LIFE INS CO

Service code 21 · EIN 04-1590850

Bank Trustee

$29,513

PHIL BRUZZESE1 year

Filed as: PHIL HAYES

Service code 30 · EIN 36-2141703

Employee (plan)

$28,818

MICHAEL MALONEY1 year

Service code 20 · EIN 36-2141703

Trustee (individual)

$17,378

LEGACY PROFESSIONALS LLP6+ years

Service code 10 · EIN 32-0043599

Accounting

$16,036

BASYS4 years

Service code 49 · EIN 52-1796473

Other Services

$15,987

COSTIN, HAMMEL & LEAKE L.L.C.6+ years

Service code 10 · EIN 36-4198035

Accounting

$9,584

OGLETREE DEAKINS6+ years

Filed as: OGLETREE DEAKINS, ET AL., P.C.

Service code 29 · EIN 57-1044820

Legal

$7,276

THE SEGAL COMPANY6+ years

Filed as: SEGAL SELECT INSURANCE

Service code 53 · EIN 46-0619194

Insurance Commissions

PIPE FITTERS ASSOCIATION L.U. 597, U.A. 401(K) PLA

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Reportable transactions (Schedule G)

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PIPE FITTERS ASSOCIATION L.U. 597, U.A. 401(K) PLA

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Reportable transactions (Schedule G)

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