Retirement plan

SHEET METAL WORKERS LOCAL 219 RETIREMENT SAVINGS FUND

Name: BOARD OF TRUSTEES - SHEET METAL WORKERS LOCAL 219 RETIREMENT SAVINGS F - SHEET METAL WORKERS LOCAL 219 RETIREMENT SAVINGS FUND (2016) Form 5500
Creator: BOARD OF TRUSTEES - SHEET METAL WORKERS LOCAL 219 RETIREMENT SAVINGS F
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SHEET METAL WORKERS LOCAL 219 RETIREMENT SAVINGS FUND, BOARD OF TRUSTEES - SHEET METAL WORKERS LOCAL 219 RETIREMENT SAVINGS F

BOARD OF TRUSTEES - SHEET METAL WORKERS LOCAL 219 RETIREMENT SAVINGS FEIN 36-4343290Plan #001PY 2016

3316 PUBLISHERS DRIVE - ROCKFORD, IL 611096318815-874-6641smwlocal219.comLinkedIn501-1000 employees

Prospect flagsHigh feesLow participationHigh assets / participant

How to read this page

Total assets (EOY)

$105.8M

+7.0% from 2015

Total participants

635

+4.4% from 2015

Average account balance

$252,410

+2.1% from 2015

Annual return

6.57%

+8.24 pp from 2015

Benchmarks

See 1,079 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,079 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$209.67M

Not enough data

1 years with asset history on file

Average account balance

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

$332K

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.

631

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.

57.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$9.52M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+13.48%

Not enough data

1 years with return on file

Admin fee / account holder

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

$407

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 9 by compensation

Provider	Service type	Compensation
MEKETA INVESTMENT GROUP1 year Filed as: MEKETA INVESTMENT GROUP, INC. Service code 27 · EIN 04-2659023	Advisory (Plan)	$56,000
AMERICAN REALTY ADVISORS1 year Service code 28 · EIN 33-0123114	Investment Management	$31,263
SMART LOCAL UNION 2192+ years Filed as: SHEET METAL WORKERS LOCAL UNION 219 Service code 14 · EIN 36-1764275	Plan Administrator	$24,000
LEGACY PROFESSIONALS LLP2+ years Service code 10 · EIN 32-0043599	Accounting	$18,182
INDEPENDENT FINANCIAL PARTNERS2+ years Filed as: SIERRA INVESTMENT PARTNERS, INC. Service code 28 · EIN 68-0370668	Investment Management	$14,301
REINHART BOERNER VAN DEUREN S.C.2+ years Filed as: REINHART BOERNER VAN DEUREN Service code 29 · EIN 39-1126909	Legal	$7,731
JOHN HANCOCK LIFE INSURANCE COMPANY1 year Filed as: JOHN HANCOCK RETIREMENT PLAN SERV. Service code 17 · EIN 01-0233346	Pension Consulting	$679
SEER CAPITAL1 year Filed as: SEER CAPITAL MANAGEMENT LLC Service code 28 · EIN 35-2343003	Investment Management	$0
GOLDMAN SACHS1 year Filed as: SEER CAPITAL PARTNERS GROUP LLC Service code 72 · EIN 90-0459768	Other investment fees and expenses	$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

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$136K

$222 / participant

Investment mgmt$71K52.3%
Contract admin$24K17.7%
Other / not subdivided$41K30.0%

% of EOY assets

0.128%

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$252,410

$57,921+335.8%

$84,753+197.8%

$57,658+337.8%

Participation rate

64.6%

72.9%-8.3pp

76.6%-12.0pp

70.2%-5.6pp

Annual return

6.57%

10.24%-3.7pp

22.78%-16.2pp

5.13%+1.4pp

Employer contribution / active EE

$7,856

$2,598+202.3%

$3,574+119.8%

$1,974+298.0%

Participant deferral / active EE

$2,742-100.0%

$3,712-100.0%

$3,061-100.0%

Admin fee / account holder

$324

$130+149.6%

$5,333-93.9%

$95+242.4%

Provider

Service type

Compensation

MEKETA INVESTMENT GROUP1 year

Filed as: MEKETA INVESTMENT GROUP, INC.

Service code 27 · EIN 04-2659023

Advisory (Plan)

$56,000

AMERICAN REALTY ADVISORS1 year

Service code 28 · EIN 33-0123114

Investment Management

$31,263

SMART LOCAL UNION 2192+ years

Filed as: SHEET METAL WORKERS LOCAL UNION 219

Service code 14 · EIN 36-1764275

Plan Administrator

$24,000

LEGACY PROFESSIONALS LLP2+ years

Service code 10 · EIN 32-0043599

Accounting

$18,182

INDEPENDENT FINANCIAL PARTNERS2+ years

Filed as: SIERRA INVESTMENT PARTNERS, INC.

Service code 28 · EIN 68-0370668

Investment Management

$14,301

REINHART BOERNER VAN DEUREN S.C.2+ years

Filed as: REINHART BOERNER VAN DEUREN

Service code 29 · EIN 39-1126909

Legal

$7,731

JOHN HANCOCK LIFE INSURANCE COMPANY1 year

Filed as: JOHN HANCOCK RETIREMENT PLAN SERV.

Service code 17 · EIN 01-0233346

Pension Consulting

$679

SEER CAPITAL1 year

Filed as: SEER CAPITAL MANAGEMENT LLC

Service code 28 · EIN 35-2343003

Investment Management

GOLDMAN SACHS1 year

Filed as: SEER CAPITAL PARTNERS GROUP LLC

Service code 72 · EIN 90-0459768

Other investment fees and expenses

SHEET METAL WORKERS LOCAL 219 RETIREMENT SAVINGS FUND

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SHEET METAL WORKERS LOCAL 219 RETIREMENT SAVINGS FUND

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