Retirement plan

SHEET METAL WORKERS' LOCAL UNION NO. 80 ANNUITY FUND

Name: THE TRUSTEES OF SHEET METAL WORKERS' LOCAL UNION NO. 80 ANNUITY FUND - SHEET METAL WORKERS' LOCAL UNION NO. 80 ANNUITY FUND (2017) Form 5500
Creator: THE TRUSTEES OF SHEET METAL WORKERS' LOCAL UNION NO. 80 ANNUITY FUND
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SHEET METAL WORKERS' LOCAL UNION NO. 80 ANNUITY FUND, THE TRUSTEES OF SHEET METAL WORKERS' LOCAL UNION NO. 80 ANNUITY FUND

THE TRUSTEES OF SHEET METAL WORKERS' LOCAL UNION NO. 80 ANNUITY FUNDEIN 38-2941426Plan #002PY 2017

700 TOWER DRIVE, SUITE 300 - TROY, MI 480982808248-813-9800

Prospect flagsLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$76.1M

+11.8% from 2016

Total participants

1,498

-19.4% from 2016

Average account balance

$50,783

+29.3% from 2016

Annual return

13.80%

+14.91 pp from 2016

Benchmarks

See 390 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort390 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$129.51M

Not enough data

1 years with asset history on file

Average account balance

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

$70K

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.

1,839

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

$6.89M

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

+9.98%

Not enough data

1 years with return on file

Admin fee / account holder

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

$153

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
BENESYS, INC.2+ years Service code 13 · EIN 38-2383171	Contract Administrator	$72,373
MORGAN STANLEY SMITH BARNEY2+ years Filed as: MORGAN STANLEY Service code 27 · EIN 26-4310632	Advisory (Plan)	$66,666
MERRILL LYNCH PIERCE FENNER & SMITH2+ years Filed as: MERRILL LYNCH, PIERCE FENNER SMITH Service code 15 · EIN 13-5674085	Recordkeeping	$46,436
PLANTE & MORAN, PLLC2+ years Service code 10 · EIN 38-1357951	Accounting	$22,340
SACHS WALDMAN PROFESSIONAL CORP.2+ years Filed as: SACHS WALDMAN P.C. Service code 29 · EIN 38-1905521	Legal	$15,269
AMERICAN REALTY ADVISORS2+ years Filed as: AMERICAN GRAPHICS PRINTING CO. Service code 36 · EIN 38-2090931	Copying and duplicating; Participant ...	$12,959
FIDELITY INVESTMENTS INSTITUTIONAL1 year Filed as: FIDELITY INVESTMENTS Service code 16 · EIN 04-3523567	Consulting	$8,483

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.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$265K

$207 / participant

Investment mgmt$122K45.9%
Contract admin$72K27.3%
Other / not subdivided$71K26.7%

% of EOY assets

0.348%

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: PLANTE & MORAN, PLLC
Auditor EIN: 381357951
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$50,783

$221,442-77.1%

$92,240-44.9%

$77,958-34.9%

Participation rate

100.0%

79.6%+20.4pp

76.5%+23.5pp

71.6%+28.4pp

Annual return

13.80%

15.65%-1.9pp

176.29%-162.5pp

20.87%-7.1pp

Employer contribution / active EE

$995

$3,226-69.2%

$3,680-73.0%

$2,310-56.9%

Participant deferral / active EE

$628

$2,779-77.4%

$3,897-83.9%

$3,537-82.2%

Admin fee / account holder

$177

$210-15.7%

$5,194-96.6%

$97+81.5%

Provider

Service type

Compensation

BENESYS, INC.2+ years

Service code 13 · EIN 38-2383171

Contract Administrator

$72,373

MORGAN STANLEY SMITH BARNEY2+ years

Filed as: MORGAN STANLEY

Service code 27 · EIN 26-4310632

Advisory (Plan)

$66,666

MERRILL LYNCH PIERCE FENNER & SMITH2+ years

Filed as: MERRILL LYNCH, PIERCE FENNER SMITH

Service code 15 · EIN 13-5674085

Recordkeeping

$46,436

PLANTE & MORAN, PLLC2+ years

Service code 10 · EIN 38-1357951

Accounting

$22,340

SACHS WALDMAN PROFESSIONAL CORP.2+ years

Filed as: SACHS WALDMAN P.C.

Service code 29 · EIN 38-1905521

Legal

$15,269

AMERICAN REALTY ADVISORS2+ years

Filed as: AMERICAN GRAPHICS PRINTING CO.

Service code 36 · EIN 38-2090931

Copying and duplicating; Participant ...

$12,959

FIDELITY INVESTMENTS INSTITUTIONAL1 year

Filed as: FIDELITY INVESTMENTS

Service code 16 · EIN 04-3523567

Consulting

$8,483

SHEET METAL WORKERS' LOCAL UNION NO. 80 ANNUITY FUND

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SHEET METAL WORKERS' LOCAL UNION NO. 80 ANNUITY 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