Retirement plan

SOUTH CENTRAL MINNESOTA ELECTRICAL WORKERS RETIREMENT AND 401(K) PLAN

Name: TRUSTEES OF SOUTH CENTRAL MINNESOTA ELEC WORKERS RETIREMENT AND 401(K) - SOUTH CENTRAL MINNESOTA ELECTRICAL WORKERS RETIREMENT AND 401(K) PLAN (2016) Form 5500
Creator: TRUSTEES OF SOUTH CENTRAL MINNESOTA ELEC WORKERS RETIREMENT AND 401(K)
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SOUTH CENTRAL MINNESOTA ELECTRICAL WORKERS RETIREMENT AND 401(K) PLAN, TRUSTEES OF SOUTH CENTRAL MINNESOTA ELEC WORKERS RETIREMENT AND 401(K)

TRUSTEES OF SOUTH CENTRAL MINNESOTA ELEC WORKERS RETIREMENT AND 401(K)EIN 41-1390063Plan #002PY 2016

STURM AND ASSOCIATES, INC., 8120 PENN AVENUE SOUTH, SUITE 500 - BLOOMINGTON, MN 554311338952-835-3035

Prospect flagsLow returnsLow participant contribution

How to read this page

Total assets (EOY)

$158.7M

-13.2% from 2017

Total participants

1,415

-6.4% from 2017

Average account balance

$119,831

-4.9% from 2017

Annual return

-0.19%

-14.22 pp from 2017

Benchmarks

See 388 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort388 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$336.10M

Not enough data

1 years with asset history on file

Average account balance

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

$205K

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.

1,639

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

$11.48M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+12.85%

Not enough data

1 years with return on file

Admin fee / account holder

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

$170

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 5 by compensation

Provider	Service type	Compensation
WELLS FARGO BANK, N.A.1+ years Filed as: WELLS FARGO BANK, NA Service code 15 · EIN 94-1347393	Recordkeeping	$132,829
ALAN STURM & ASSOCIATES1+ years Filed as: STURM & ASSOCIATES Service code 13 · EIN 41-1238986	Contract Administrator	$60,027
ANDERSON, HELGEN, DAVIS & CEFALU1+ years Service code 29 · EIN 26-3644998	Legal	$36,896
WELLS FARGO BANK, N.A.1+ years Filed as: WELLS FARGO ADVISORS LLC Service code 26 · EIN 34-1542819	Advisory (Participants)	$17,500
LEGACY PROFESSIONALS LLP1+ years Service code 10 · EIN 32-0043599	Accounting	$7,750

Plan features & details

Pension benefit codes2C2E2G2J

Plan features

2C
Money purchase plan
Money purchase pension plan other than a target benefit plan.
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 participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$274K

$207 / participant

Investment mgmt$150K54.8%
Contract admin$60K21.8%
Other / not subdivided$64K23.5%

% of EOY assets

0.173%

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: LEGACY PROFESSIONALS LLP
Auditor EIN: 320043599
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$119,831

$54,392+120.3%

$84,753+41.4%

$63,975+87.3%

Participation rate

93.1%

76.9%+16.3pp

76.6%+16.5pp

71.1%+22.0pp

Annual return

-0.19%

611.38%-611.6pp

22.78%-23.0pp

48.65%-48.8pp

Employer contribution / active EE

$4,302

$2,943+46.2%

$3,574+20.4%

$2,182+97.2%

Participant deferral / active EE

$800

$2,593-69.2%

$3,712-78.5%

$3,356-76.2%

Admin fee / account holder

$207

$136+52.6%

$5,333-96.1%

$70+194.3%

Provider

Service type

Compensation

WELLS FARGO BANK, N.A.1+ years

Filed as: WELLS FARGO BANK, NA

Service code 15 · EIN 94-1347393

Recordkeeping

$132,829

ALAN STURM & ASSOCIATES1+ years

Filed as: STURM & ASSOCIATES

Service code 13 · EIN 41-1238986

Contract Administrator

$60,027

ANDERSON, HELGEN, DAVIS & CEFALU1+ years

Service code 29 · EIN 26-3644998

Legal

$36,896

WELLS FARGO BANK, N.A.1+ years

Filed as: WELLS FARGO ADVISORS LLC

Service code 26 · EIN 34-1542819

Advisory (Participants)

$17,500

LEGACY PROFESSIONALS LLP1+ years

Service code 10 · EIN 32-0043599

Accounting

$7,750

SOUTH CENTRAL MINNESOTA ELECTRICAL WORKERS RETIREMENT AND 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SOUTH CENTRAL MINNESOTA ELECTRICAL WORKERS RETIREMENT AND 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