Retirement plan

UFCW LOCAL 888 AND EMPLOYERS 401(K) PLAN

Name: BOARD OF TRUSTEES UFCW LOCAL 888 AND - UFCW LOCAL 888 AND EMPLOYERS 401(K) PLAN (2021) Form 5500
Creator: BOARD OF TRUSTEES UFCW LOCAL 888 AND
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, UFCW LOCAL 888 AND EMPLOYERS 401(K) PLAN, BOARD OF TRUSTEES UFCW LOCAL 888 AND

BOARD OF TRUSTEES UFCW LOCAL 888 ANDdba EMPLOYERS 401(K) PLANEIN 38-6994031Plan #002PY 2021

160 EAST UNION AVENUE - EAST RUTHERFORD, NJ 070732124914-668-8881

Prospect flagsLow returnsHigh feesLow assets / participantLow participant contribution

How to read this page

Total assets (EOY)

$20.1M

+9.5% from 2020

Total participants

704

-11.4% from 2020

Average account balance

$28,525

+7.5% from 2020

Annual return

11.34%

-1.08 pp from 2020

Benchmarks

See 1,509 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,509 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$20.60M

Not enough data

1 years with asset history on file

Average account balance

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

$34K

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.

608

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

$1.46M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+10.32%

Not enough data

1 years with return on file

Admin fee / account holder

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

$379

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 3 by compensation

Provider	Service type	Compensation
BPA OF WI A BENESYS COMPANY7+ years Filed as: BPA SERVICES LLC Service code 18 · EIN 16-1503696 6 RHOADS DRIVE, SUITE 7 · UTICA, NY 13502	Direct payment from the plan; Custodi...	$120,524
WAGNER & ZWERMAN LLP7+ years Service code 10 · EIN 11-2836481 201 OLD COUNTRY ROAD, SUITE 202 · MELVILLE, NY 11747	Accounting	$25,668
SLEVIN & HART, P.C.7+ years Filed as: SLEVIN & HART P.C. Service code 29 · EIN 52-1708613 1625 MASSACHUSETTS AVE NW, STE 450 · WASHINGTON, DC 20036	Legal	$22,543

Plan features & details

Pension benefit codes2E2F2G2J2K2T

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

4 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$214K

$416 / participant

Contract admin$121K56.4%
Other / not subdivided$93K43.6%

% of EOY assets

1.064%

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: GETTRY MARCUS CPA PC
Auditor EIN: 133418879
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$28,525

$111,491-74.4%

$189,520-84.9%

$86,813-67.1%

Participation rate

100.0%

87.3%+12.7pp

87.8%+12.2pp

72.3%+27.7pp

Annual return

11.34%

83.50%-72.2pp

555.25%-543.9pp

97.93%-86.6pp

Employer contribution / active EE

$2,038

$3,951-48.4%

$6,161-66.9%

$2,406-15.3%

Participant deferral / active EE

$946

$6,437-85.3%

$8,220-88.5%

$4,131-77.1%

Admin fee / account holder

$304

$189+60.9%

$12,046-97.5%

$170+79.1%

Provider

Service type

Compensation

BPA OF WI A BENESYS COMPANY7+ years

Filed as: BPA SERVICES LLC

Service code 18 · EIN 16-1503696

6 RHOADS DRIVE, SUITE 7 · UTICA, NY 13502

Direct payment from the plan; Custodi...

$120,524

WAGNER & ZWERMAN LLP7+ years

Service code 10 · EIN 11-2836481

201 OLD COUNTRY ROAD, SUITE 202 · MELVILLE, NY 11747

Accounting

$25,668

SLEVIN & HART, P.C.7+ years

Filed as: SLEVIN & HART P.C.

Service code 29 · EIN 52-1708613

1625 MASSACHUSETTS AVE NW, STE 450 · WASHINGTON, DC 20036

Legal

$22,543

UFCW LOCAL 888 AND EMPLOYERS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

UFCW LOCAL 888 AND EMPLOYERS 401(K) 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