Retirement plan

SHEET METAL WORKERS LOCAL UNION NO. 80 ANNUITY FUND

Name: THE TRUSTEES OF SHEET METAL WORKERS' LOCAL UNION NO 80 ANNUITY - SHEET METAL WORKERS LOCAL UNION NO. 80 ANNUITY FUND (2024) Form 5500
Creator: THE TRUSTEES OF SHEET METAL WORKERS' LOCAL UNION NO 80 ANNUITY
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

THE TRUSTEES OF SHEET METAL WORKERS' LOCAL UNION NO 80 ANNUITYdba FUNDEIN 38-2941426Plan #002PY 2024

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)

$121.1M

+15.3% from 2023

Total participants

1,815

+6.0% from 2023

Average account balance

$66,735

+8.7% from 2023

Annual return

14.91%

+13.86 pp from 2023

Benchmarks

See 560 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort560 peers

Snapshot2024

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

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

Service providers

Top 6 by compensation

Provider	Service type	Compensation
JOHN HANCOCK LIFE INSURANCE COMPANY3 years Filed as: JOHN HANCOCK Service code 10 · EIN 13-3072894	Accounting	$106,114
MORGAN STANLEY SMITH BARNEY9+ years Filed as: MORGAN STANLEY Service code 27 · EIN 26-4310632	Advisory (Plan)	$69,999
BENESYS, INC.3 years Filed as: BENESYS, INC Service code 10 · EIN 38-2383171	Accounting	$17,199
BENDA, GRACE, STULZ & COMPANY, P.C.6 years Service code 10 · EIN 38-2284921	Accounting	$16,500
WATKINS PAWLICK CALATI & PRIFTI, PC6 years Filed as: WATKINS PAWLICK CALATI & PRIFTI PC Service code 29 · EIN 83-2893229	Legal	$10,818
PNC BANK, N.A.7 years Filed as: THE PNC FINANCIAL SERVICES GROUP Service code 18 755 W BIG BEAVER, STE 24 · TROY, MI 48044	Custodial (other than securities); Di...	$10,188

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

$279K

$168 / participant

Recordkeeping$106K38.1%
Investment mgmt$70K25.1%
Legal$22K8.1%
Contract admin$14K5.2%
Other / not subdivided$66K23.6%

% of EOY assets

0.230%

all-in expense ratio

Categories reported

4 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BENDA, GRACE, STULZ & COMPANY, P.C.
Auditor EIN: 382284921
Audit fees: $16,500
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$66,735

$241,850-72.4%

$102,412-34.8%

$199,960-66.6%

Participation rate

100.0%

78.3%+21.7pp

74.5%+25.5pp

72.0%+28.0pp

Annual return

14.91%

17.67%-2.8pp

24.94%-10.0pp

34.28%-19.4pp

Employer contribution / active EE

$2,923

$4,253-31.3%

$3,870-24.5%

$3,036-3.7%

Participant deferral / active EE

$1,289

$3,961-67.4%

$5,060-74.5%

$5,087-74.7%

Admin fee / account holder

$154

$288-46.7%

$8,388-98.2%

$269-42.9%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY3 years

Filed as: JOHN HANCOCK

Service code 10 · EIN 13-3072894

Accounting

$106,114

MORGAN STANLEY SMITH BARNEY9+ years

Filed as: MORGAN STANLEY

Service code 27 · EIN 26-4310632

Advisory (Plan)

$69,999

BENESYS, INC.3 years

Filed as: BENESYS, INC

Service code 10 · EIN 38-2383171

Accounting

$17,199

BENDA, GRACE, STULZ & COMPANY, P.C.6 years

Service code 10 · EIN 38-2284921

Accounting

$16,500

WATKINS PAWLICK CALATI & PRIFTI, PC6 years

Filed as: WATKINS PAWLICK CALATI & PRIFTI PC

Service code 29 · EIN 83-2893229

Legal

$10,818

PNC BANK, N.A.7 years

Filed as: THE PNC FINANCIAL SERVICES GROUP

Service code 18

755 W BIG BEAVER, STE 24 · TROY, MI 48044

Custodial (other than securities); Di...

$10,188

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