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 (2024) 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 2024

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

Other plans on this EIN

1 filing

#001Retirement-$244.3M assets

Prospect flagsLow participant contribution

How to read this page

Total assets (EOY)

$48.9M

+15.0% from 2023

Total participants

966

+2.7% from 2023

Average account balance

$50,617

+12.0% from 2023

Annual return

14.03%

+2.73 pp from 2023

Benchmarks

See 1,563 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,563 peers

Snapshot2024

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 6 by compensation

Provider	Service type	Compensation
NOVARA, TESIJA & CATENACCI, PLLC7 years Service code 29 · EIN 38-3763096 888 W BIG BEAVER RD 600 · TROY, MI 48084	Legal	$50,200
SOLXSYS ADMINISTRATIVE SOLUTIONS2 years Service code 14 · EIN 83-2454243 5600 NEW KING ST, STE 330 · TROY, MI 48098	Plan Administrator	$42,103
MARQUETTE ASSOCIATES4 years Service code 16 · EIN 36-3485298 180 N LASALLE ST STE 3500 · CHICAGO, IL 60601	Consulting	$15,563
MACQUEEN INSURANCE GROUP2 years Filed as: MACQUEEN & ASSOCIATES LLC Service code 22 · EIN 20-0495393 415 S WEST ST STE 350 · ROYAL OAK, MI 48067	Insurance Broker	$13,892
BULTYNCK & CO., P.L.L.C.8 years Service code 10 · EIN 20-3920878 15985 CANAL ROAD · CLINTON TOWNSHIP, MI 48038	Accounting	$13,700
MILLIMAN, INC.1 year Service code 11 · EIN 91-0675641 1301 FIFTH AVE STE 3800 · SEATTLE, WA 98101	Actuarial	$5,265

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

1 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$216K

$320 / participant

Trustee / custodial$8270.4%
Investment mgmt$83K38.2%
Legal$52K23.9%
Actuarial$5K2.4%
Contract admin$42K19.4%
Other / not subdivided$34K15.6%

% of EOY assets

0.442%

all-in expense ratio

Categories reported

5 / 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: $15,669
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$50,617

$82,979-39.0%

$102,383-50.6%

$77,714-34.9%

Participation rate

100.0%

71.5%+28.5pp

74.5%+25.5pp

70.6%+29.4pp

Annual return

14.03%

19.11%-5.1pp

24.94%-10.9pp

31.26%-17.2pp

Employer contribution / active EE

$3,141

$3,554-11.6%

$3,870-18.8%

$2,727+15.2%

Participant deferral / active EE

$898

$4,109-78.2%

$5,060-82.3%

$4,649-80.7%

Admin fee / account holder

$224

$639-64.9%

$8,391-97.3%

$433-48.3%

Provider

Service type

Compensation

NOVARA, TESIJA & CATENACCI, PLLC7 years

Service code 29 · EIN 38-3763096

888 W BIG BEAVER RD 600 · TROY, MI 48084

Legal

$50,200

SOLXSYS ADMINISTRATIVE SOLUTIONS2 years

Service code 14 · EIN 83-2454243

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

Plan Administrator

$42,103

MARQUETTE ASSOCIATES4 years

Service code 16 · EIN 36-3485298

180 N LASALLE ST STE 3500 · CHICAGO, IL 60601

Consulting

$15,563

MACQUEEN INSURANCE GROUP2 years

Filed as: MACQUEEN & ASSOCIATES LLC

Service code 22 · EIN 20-0495393

415 S WEST ST STE 350 · ROYAL OAK, MI 48067

Insurance Broker

$13,892

BULTYNCK & CO., P.L.L.C.8 years

Service code 10 · EIN 20-3920878

15985 CANAL ROAD · CLINTON TOWNSHIP, MI 48038

Accounting

$13,700

MILLIMAN, INC.1 year

Service code 11 · EIN 91-0675641

1301 FIFTH AVE STE 3800 · SEATTLE, WA 98101

Actuarial

$5,265

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