Retirement plan

IUOE LOCAL 399 PARTICIPATING EMPLOYERS DEFERRED COMPENSATION EMPLOYEE SAVINGS PLAN

Name: BOARD OF TRUSTEES IUOE LOCAL 399 DEFERRED COMPENSATION SAVINGS PLAN - IUOE LOCAL 399 PARTICIPATING EMPLOYERS DEFERRED COMPENSATION EMPLOYEE SAVINGS PLAN (2023) Form 5500
Creator: BOARD OF TRUSTEES IUOE LOCAL 399 DEFERRED COMPENSATION SAVINGS PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IUOE LOCAL 399 PARTICIPATING EMPLOYERS DEFERRED COMPENSATION EMPLOYEE SAVINGS PLAN, BOARD OF TRUSTEES IUOE LOCAL 399 DEFERRED COMPENSATION SAVINGS PLAN

BOARD OF TRUSTEES IUOE LOCAL 399 DEFERRED COMPENSATION SAVINGS PLANEIN 36-4026691Plan #001PY 2023

2260 SOUTH GROVE STREET - CHICAGO, IL 60616312-372-9870

Prospect flagsLow participationLow employer contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$306.4M

-10.6% from 2016

Total participants

4,796

-12.4% from 2016

Average account balance

$94,356

-1.6% from 2016

Annual return

17.27%

-9.32 pp from 2016

Benchmarks

See 531 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort531 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$345.75M

Not enough data

1 years with asset history on file

Average account balance

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

$103K

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.

3,346

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.

47.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$17.88M

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

+14.17%

Not enough data

1 years with return on file

Admin fee / account holder

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

$177

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 7 by compensation

Provider	Service type	Compensation
JOHN HANCOCK LIFE INSURANCE COMPANY9+ years Service code 15 · EIN 01-0233346	Recordkeeping	$428,035
RETIREMENT SOLUTION GROUP7 years Filed as: RETIREMENT SOLUTION GROUP, LLC Service code 13 · EIN 20-2668095	Contract Administrator	$107,250
BENESYS, INC.1 year Filed as: BENESYS, INC Service code 13 · EIN 38-2383171	Contract Administrator	$83,246
LEGACY PROFESSIONALS LLP6 years Service code 10 · EIN 32-0043599	Accounting	$31,173
STRATEGIC CAPITAL INVESTMENT ADVISO1 year Filed as: STRATEGIC CAPITAL INVESTMENT ADV Service code 27 · EIN 36-4268991	Advisory (Plan)	$27,500
HUNT INSURANCE AGENCY, INC.4 years Filed as: HUNT INSURANCE Service code 22 · EIN 36-2730032	Insurance Broker	$22,227
JOHNSON & KROL, LLC4 years Filed as: JOHNSON AND KROL LLC Service code 29 · EIN 36-4342024	Legal	$16,223

Plan features & details

Pension benefit codes2E2F2G2J2K

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.
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.

Opportunity flags

4 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
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

$774K

$162 / participant

Recordkeeping$434K56.0%
Investment mgmt$28K3.6%
Legal$16K2.1%
Contract admin$190K24.6%
Other / not subdivided$106K13.7%

% of EOY assets

0.253%

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: $25,500
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$94,356

$88,479+6.6%

$96,543-2.3%

$80,187+17.7%

Participation rate

67.7%

79.9%-12.2pp

74.3%-6.7pp

72.9%-5.3pp

Annual return

17.27%

22.53%-5.3pp

35.75%-18.5pp

40.40%-23.1pp

Employer contribution / active EE

$55

$4,177-98.7%

$3,741-98.5%

$2,980-98.2%

Participant deferral / active EE

$3,644

$3,961-8.0%

$4,880-25.3%

$5,016-27.4%

Admin fee / account holder

$238

$211+12.7%

$6,737-96.5%

$145+64.4%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY9+ years

Service code 15 · EIN 01-0233346

Recordkeeping

$428,035

RETIREMENT SOLUTION GROUP7 years

Filed as: RETIREMENT SOLUTION GROUP, LLC

Service code 13 · EIN 20-2668095

Contract Administrator

$107,250

BENESYS, INC.1 year

Filed as: BENESYS, INC

Service code 13 · EIN 38-2383171

Contract Administrator

$83,246

LEGACY PROFESSIONALS LLP6 years

Service code 10 · EIN 32-0043599

Accounting

$31,173

STRATEGIC CAPITAL INVESTMENT ADVISO1 year

Filed as: STRATEGIC CAPITAL INVESTMENT ADV

Service code 27 · EIN 36-4268991

Advisory (Plan)

$27,500

HUNT INSURANCE AGENCY, INC.4 years

Filed as: HUNT INSURANCE

Service code 22 · EIN 36-2730032

Insurance Broker

$22,227

JOHNSON & KROL, LLC4 years

Filed as: JOHNSON AND KROL LLC

Service code 29 · EIN 36-4342024

Legal

$16,223

IUOE LOCAL 399 PARTICIPATING EMPLOYERS DEFERRED COMPENSATION EMPLOYEE SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IUOE LOCAL 399 PARTICIPATING EMPLOYERS DEFERRED COMPENSATION EMPLOYEE SAVINGS 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