Retirement plan

WEST MICHIGAN PLUMBERS FITTERS & SERVICE TRADES LOCAL UNION NO 174 401(K) RETIREMENT SAVINGS PLAN

Name: BOARD OF TRUSTEES WEST MI PLUMBERS LOCAL UNION NO 174 401(K) PLAN - WEST MICHIGAN PLUMBERS FITTERS & SERVICE TRADES LOCAL UNION NO 174 401(K) RETIREMENT SAVINGS PLAN (2023) Form 5500
Creator: BOARD OF TRUSTEES WEST MI PLUMBERS LOCAL UNION NO 174 401(K) PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WEST MICHIGAN PLUMBERS FITTERS & SERVICE TRADES LOCAL UNION NO 174 401(K) RETIREMENT SAVINGS PLAN, BOARD OF TRUSTEES WEST MI PLUMBERS LOCAL UNION NO 174 401(K) PLAN

BOARD OF TRUSTEES WEST MI PLUMBERS LOCAL UNION NO 174 401(K) PLANEIN 38-1796240Plan #002PY 2023

5600 NEW KING DRIVE SUITE 330 - TROY, MI 48098248-663-2449

Other plans on this EIN

1 filing

#001Retirement-$220.1M assets

Prospect flagsLow returnsLow participant contribution

How to read this page

Total assets (EOY)

$42.5M

-13.6% from 2017

Total participants

941

-6.2% from 2017

Average account balance

$45,175

-7.9% from 2017

Annual return

11.30%

-14.38 pp from 2017

Benchmarks

See 1,502 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,502 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$54.00M

Not enough data

1 years with asset history on file

Average account balance

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

$55K

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.

979

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

$2.82M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+12.95%

Not enough data

1 years with return on file

Admin fee / account holder

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

$217

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 8 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER RETIREMENT Service code 64 8515 E. ORCHARD RD · GREENWOOD VILIAGE, CO 80111	Recordkeeping Fees	$182,884
NOVARA, TESIJA & CATENACCI, PLLC6 years Service code 29 · EIN 38-3763096 888 W BIG BEAVER RD 600 · TROY, MI 48084	Legal	$48,290
SOLXSYS ADMINISTRATIVE SOLUTIONS1 year Service code 14 · EIN 83-2454243 5600 NEW KING ST, STE 330 · TROY, MI 48098	Plan Administrator	$28,070
TIC INTERNATIONAL CORPORATION8+ years Service code 14 · EIN 13-2600875 6525 CENTURION DRIVE · LANSING, MI 48917	Plan Administrator	$17,401
MARQUETTE ASSOCIATES3 years Service code 16 · EIN 36-3485298 180 N LASALLE ST STE 3500 · CHICAGO, IL 60601	Consulting	$15,000
THE SEGAL COMPANY1 year Filed as: SEGAL SELECT INSURANCE SERVICES Service code 22 · EIN 46-0619194 333 WEST 34TH STREET · NEW YORK, NY 10001	Insurance Broker	$12,515
BULTYNCK & CO., P.L.L.C.7 years Service code 10 · EIN 20-3920878 15985 CANAL ROAD · CLINTON TOWNSHIP, MI 48038	Accounting	$12,450
MACQUEEN INSURANCE GROUP1 year Filed as: MACQUEEN & ASSOCIATES LLC Service code 23 · EIN 20-0495393	Insurance services	$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

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$188K

$283 / participant

Investment mgmt$59K31.5%
Contract admin$42K22.5%
Other / not subdivided$86K46.0%

% of EOY assets

0.442%

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: BULTYNCK & CO., P.L.L.C.
Auditor EIN: 203920878
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$45,175

$93,010-51.4%

$96,543-53.2%

$74,478-39.3%

Participation rate

100.0%

71.6%+28.4pp

74.3%+25.7pp

70.7%+29.3pp

Annual return

11.30%

37.50%-26.2pp

35.75%-24.4pp

34.37%-23.1pp

Employer contribution / active EE

$2,967

$3,427-13.4%

$3,741-20.7%

$2,637+12.5%

Participant deferral / active EE

$1,046

$3,971-73.7%

$4,880-78.6%

$4,530-76.9%

Admin fee / account holder

$200

$633-68.5%

$6,737-97.0%

$347-42.5%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER RETIREMENT

Service code 64

8515 E. ORCHARD RD · GREENWOOD VILIAGE, CO 80111

Recordkeeping Fees

$182,884

NOVARA, TESIJA & CATENACCI, PLLC6 years

Service code 29 · EIN 38-3763096

888 W BIG BEAVER RD 600 · TROY, MI 48084

Legal

$48,290

SOLXSYS ADMINISTRATIVE SOLUTIONS1 year

Service code 14 · EIN 83-2454243

5600 NEW KING ST, STE 330 · TROY, MI 48098

Plan Administrator

$28,070

TIC INTERNATIONAL CORPORATION8+ years

Service code 14 · EIN 13-2600875

6525 CENTURION DRIVE · LANSING, MI 48917

Plan Administrator

$17,401

MARQUETTE ASSOCIATES3 years

Service code 16 · EIN 36-3485298

180 N LASALLE ST STE 3500 · CHICAGO, IL 60601

Consulting

$15,000

THE SEGAL COMPANY1 year

Filed as: SEGAL SELECT INSURANCE SERVICES

Service code 22 · EIN 46-0619194

333 WEST 34TH STREET · NEW YORK, NY 10001

Insurance Broker

$12,515

BULTYNCK & CO., P.L.L.C.7 years

Service code 10 · EIN 20-3920878

15985 CANAL ROAD · CLINTON TOWNSHIP, MI 48038

Accounting

$12,450

MACQUEEN INSURANCE GROUP1 year

Filed as: MACQUEEN & ASSOCIATES LLC

Service code 23 · EIN 20-0495393

Insurance services

WEST MICHIGAN PLUMBERS FITTERS & SERVICE TRADES LOCAL UNION NO 174 401(K) RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WEST MICHIGAN PLUMBERS FITTERS & SERVICE TRADES LOCAL UNION NO 174 401(K) RETIREMENT 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