Retirement plan

IAMAW GREAT LAKES WAGE REDUCTION AND RETIREMENT

Name: INTERNATIONAL ASSOCIATION OF MACHINISTS - IAMAW GREAT LAKES WAGE REDUCTION AND RETIREMENT (2018) Form 5500
Creator: INTERNATIONAL ASSOCIATION OF MACHINISTS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IAMAW GREAT LAKES WAGE REDUCTION AND RETIREMENT, INTERNATIONAL ASSOCIATION OF MACHINISTS

INTERNATIONAL ASSOCIATION OF MACHINISTSEIN 38-2614719Plan #005PY 2018

700 TOWER DRIVE 300 - TROY, MI 480982808248-813-9800iafhc.wildapricot.orgLinkedIn1-10 employees

Prospect flagsLow participationLow participant contribution

How to read this page

Total assets (EOY)

$22.4M

-12.2% from 2017

Total participants

455

+4.6% from 2017

Average account balance

$81,895

-32.7% from 2017

Annual return

-5.58%

-27.67 pp from 2017

Benchmarks

See 2,409 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort2,409 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$64.73M

Not enough data

1 years with asset history on file

Average account balance

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

$144K

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.

449

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.

67.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$888K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+14.98%

Not enough data

1 years with return on file

Admin fee / account holder

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

$475

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 4 by compensation

Provider	Service type	Compensation
BENESYS, INC.4+ years Service code 13 · EIN 38-6058023	Contract Administrator	$40,828
NOVARA, TESIJA & CATENACCI, PLLC2 years Filed as: NOVARA,TESIJA & CATENACCI PLLC Service code 29 · EIN 38-3507129	Legal	$7,996
WASHINGTON CAPITAL MANAGEMENT, INC.1 year Filed as: WASHINGTON STREET INSURANCE GROUP Service code 22 · EIN 36-4019884	Insurance Broker	$7,691
WRUBEL WESLEY AND COMPANY C.P.A.'S1 year Service code 10 · EIN 38-2754238	Accounting	$6,717

Plan features & details

Pension benefit codes2E2G2J

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.

Opportunity flags

2 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$68K

$167 / participant

Contract admin$40K59.1%
Other / not subdivided$28K40.9%

% of EOY assets

0.304%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: WRUBEL WESLEY AND COMPANY C.P.A.'S
Auditor EIN: 382574238
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$81,895

$65,118+25.8%

$76,767+6.7%

$55,725+47.0%

Participation rate

55.6%

79.6%-24.0pp

77.0%-21.3pp

70.9%-15.2pp

Annual return

-5.58%

-1.27%-4.3pp

2.43%-8.0pp

244.93%-250.5pp

Employer contribution / active EE

$1,941-100.0%

$2,485-100.0%

$2,078-100.0%

Participant deferral / active EE

$1,156

$3,688-68.6%

$3,852-70.0%

$3,356-65.5%

Admin fee / account holder

$249

$116+115.1%

$6,675-96.3%

$115+116.4%

Provider

Service type

Compensation

BENESYS, INC.4+ years

Service code 13 · EIN 38-6058023

Contract Administrator

$40,828

NOVARA, TESIJA & CATENACCI, PLLC2 years

Filed as: NOVARA,TESIJA & CATENACCI PLLC

Service code 29 · EIN 38-3507129

Legal

$7,996

WASHINGTON CAPITAL MANAGEMENT, INC.1 year

Filed as: WASHINGTON STREET INSURANCE GROUP

Service code 22 · EIN 36-4019884

Insurance Broker

$7,691

WRUBEL WESLEY AND COMPANY C.P.A.'S1 year

Service code 10 · EIN 38-2754238

Accounting

$6,717

IAMAW GREAT LAKES WAGE REDUCTION AND RETIREMENT

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IAMAW GREAT LAKES WAGE REDUCTION AND RETIREMENT

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