Retirement plan

MINNESOTA TEAMSTERS MEMBER 401(K) PLAN

Name: BOARD OF TRUSTEES, MINNESOTA TEAMSTERS MEMBER 401(K) - MINNESOTA TEAMSTERS MEMBER 401(K) PLAN (2016) Form 5500
Creator: BOARD OF TRUSTEES, MINNESOTA TEAMSTERS MEMBER 401(K)
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MINNESOTA TEAMSTERS MEMBER 401(K) PLAN, BOARD OF TRUSTEES, MINNESOTA TEAMSTERS MEMBER 401(K)

BOARD OF TRUSTEES, MINNESOTA TEAMSTERS MEMBER 401(K)EIN 41-0945362Plan #001PY 2016

3001 METRO DR STE 500 - BLOOMINGTON, MN 55425952-854-0795

Prospect flagsLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$61.6M

+16.2% from 2015

Total participants

1,520

-21.4% from 2015

Average account balance

$32,620

+17.8% from 2015

Annual return

11.20%

+12.17 pp from 2015

Benchmarks

See 529 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants1,000-4,999

Cohort529 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$116.67M

Not enough data

1 years with asset history on file

Average account balance

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

$37K

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.

3,157

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.

88.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$6.67M

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

+14.92%

Not enough data

1 years with return on file

Admin fee / account holder

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

$113

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
TRANSAMERICA RETIREMENT SOLUTIONS2+ years Service code 12 · EIN 13-3689044	Finders' fees / placement fees; Sales...	$260,462
WILSON-MCSHANE CORPORATION2+ years Service code 10 · EIN 41-0956552	Accounting	$45,908
MARQUETTE ASSOCIATES2+ years Service code 27 · EIN 36-3485298	Advisory (Plan)	$32,000
MILLER KAPLAN ARASE LLP1 year Service code 10 · EIN 95-2036255	Accounting	$17,800
MCKENZIE ROTHWELL BARLOW & COUGHRAN1 year Service code 29 · EIN 91-0889948	Legal	$12,790
NATIONAL FINANCIAL SERVICES2+ years Service code 33 · EIN 04-3523567	Securities brokerage; Securities brok...	$0

Plan features & details

Pension benefit codes2E2G2J2T

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.
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

$385K

$256 / participant

Investment mgmt$32K8.3%
Contract admin$34K8.7%
Other / not subdivided$319K82.9%

% of EOY assets

0.625%

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: MILLER KAPLAN ARASE LLP
Auditor EIN: 952036255
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$32,620

$80,354-59.4%

$133,975-75.7%

$63,975-49.0%

Participation rate

100.0%

87.5%+12.5pp

87.1%+12.9pp

71.1%+28.9pp

Annual return

11.20%

13.11%-1.9pp

29.29%-18.1pp

48.65%-37.4pp

Employer contribution / active EE

$1,479

$3,503-57.8%

$5,211-71.6%

$2,182-32.2%

Participant deferral / active EE

$1,619

$5,239-69.1%

$6,282-74.2%

$3,356-51.8%

Admin fee / account holder

$204

$69+194.1%

$9,324-97.8%

$70+189.4%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS2+ years

Service code 12 · EIN 13-3689044

Finders' fees / placement fees; Sales...

$260,462

WILSON-MCSHANE CORPORATION2+ years

Service code 10 · EIN 41-0956552

Accounting

$45,908

MARQUETTE ASSOCIATES2+ years

Service code 27 · EIN 36-3485298

Advisory (Plan)

$32,000

MILLER KAPLAN ARASE LLP1 year

Service code 10 · EIN 95-2036255

Accounting

$17,800

MCKENZIE ROTHWELL BARLOW & COUGHRAN1 year

Service code 29 · EIN 91-0889948

Legal

$12,790

NATIONAL FINANCIAL SERVICES2+ years

Service code 33 · EIN 04-3523567

Securities brokerage; Securities brok...

MINNESOTA TEAMSTERS MEMBER 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MINNESOTA TEAMSTERS MEMBER 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