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 (2023) 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 2023

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

Plan administrator name— Sign in and upgrade to view

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)

$2153.8M

-13.9% from 2016

Total participants

11,130

-4.7% from 2016

Average account balance

$220,024

-9.9% from 2016

Annual return

15.38%

-6.03 pp from 2016

Benchmarks

See 70 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants5,000-9,999

Cohort70 peers

Snapshot2023

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

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
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 · EIN 84-0467907	Recordkeeping Fees	$170,160
JOHNSON & KROL, LLC9+ years Service code 29 · EIN 36-4342024	Legal	$53,028
STRATEGIC CAPITAL INVESTMENT ADVISO9+ years Filed as: STRATEGIC CAPITAL INVESTMENT ADV. Service code 27 · EIN 36-4268991	Advisory (Plan)	$45,001
PHIL BRUZZESE4 years Filed as: PHIL HAYES Service code 30 · EIN 36-2141703	Employee (plan)	$31,094
BOND BROTHERS1 year Service code 36 · EIN 36-2433269	Copying and duplicating	$25,412
BRIDGEWAY BENEFIT TECHNOLOGIES2 years Filed as: BRIDGEWAY BENEFIT TECHNOLOGIES LLC Service code 49 · EIN 52-1796473	Other Services	$20,543
LEGACY PROFESSIONALS LLP9+ years Service code 10 · EIN 32-0043599	Accounting	$17,700
COSTIN, HAMMEL & LEAKE L.L.C.9+ years Service code 15 · EIN 36-4198035	Recordkeeping	$12,054
ISLER DARE, P.C.1 year Filed as: ISLER DARE Service code 29 · EIN 54-1844836	Legal	$8,129
THE SEGAL COMPANY9+ years Filed as: SEGAL SELECT INSURANCE Service code 53 · EIN 46-0619194	Insurance Commissions	$0

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

$603K

$65 / participant

Recordkeeping$170K28.2%
Trustee / custodial$2K0.3%
Investment mgmt$46K7.6%
Legal$55K9.2%
Other / not subdivided$330K54.7%

% of EOY assets

0.028%

all-in expense ratio

Categories reported

4 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: LEGACY PROFESSIONALS LLP
Auditor EIN: 320043599
Audit fees: $17,700
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$220,024

$74,831+194.0%

$96,543+127.9%

$103,657+112.3%

Participation rate

85.6%

83.1%+2.5pp

74.3%+11.2pp

73.4%+12.2pp

Annual return

15.38%

16.15%-0.8pp

35.75%-20.4pp

33.13%-17.8pp

Employer contribution / active EE

$14,426

$3,888+271.1%

$3,741+285.7%

$3,216+348.6%

Participant deferral / active EE

$3,052

$3,896-21.7%

$4,880-37.5%

$5,218-41.5%

Admin fee / account holder

$62

$130-52.7%

$6,737-99.1%

$114-46.0%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64 · EIN 84-0467907

Recordkeeping Fees

$170,160

JOHNSON & KROL, LLC9+ years

Service code 29 · EIN 36-4342024

Legal

$53,028

STRATEGIC CAPITAL INVESTMENT ADVISO9+ years

Filed as: STRATEGIC CAPITAL INVESTMENT ADV.

Service code 27 · EIN 36-4268991

Advisory (Plan)

$45,001

PHIL BRUZZESE4 years

Filed as: PHIL HAYES

Service code 30 · EIN 36-2141703

Employee (plan)

$31,094

BOND BROTHERS1 year

Service code 36 · EIN 36-2433269

Copying and duplicating

$25,412

BRIDGEWAY BENEFIT TECHNOLOGIES2 years

Filed as: BRIDGEWAY BENEFIT TECHNOLOGIES LLC

Service code 49 · EIN 52-1796473

Other Services

$20,543

LEGACY PROFESSIONALS LLP9+ years

Service code 10 · EIN 32-0043599

Accounting

$17,700

COSTIN, HAMMEL & LEAKE L.L.C.9+ years

Service code 15 · EIN 36-4198035

Recordkeeping

$12,054

ISLER DARE, P.C.1 year

Filed as: ISLER DARE

Service code 29 · EIN 54-1844836

Legal

$8,129

THE SEGAL COMPANY9+ 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

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

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