Retirement plan

ELECTRICAL WORKERS LOCAL 242 401(K) PLAN

Name: TRUSTEES ELECTRICAL WORKERS LOCAL 242 401(K) PLAN - ELECTRICAL WORKERS LOCAL 242 401(K) PLAN (2021) Form 5500
Creator: TRUSTEES ELECTRICAL WORKERS LOCAL 242 401(K) PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ELECTRICAL WORKERS LOCAL 242 401(K) PLAN, TRUSTEES ELECTRICAL WORKERS LOCAL 242 401(K) PLAN

TRUSTEES ELECTRICAL WORKERS LOCAL 242 401(K) PLANEIN 41-1972744Plan #004PY 2021

2002 LONDON ROAD, ROOM 300 - DULUTH, MN 558122152218-728-4231

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$22.2M

+22.6% from 2020

Total participants

558

+16.0% from 2020

Average account balance

$39,852

+0.8% from 2020

Annual return

16.34%

-1.61 pp from 2020

Benchmarks

See 1,300 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,300 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$27.99M

Not enough data

1 years with asset history on file

Average account balance

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

$44K

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.

633

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

$1.85M

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

+13.74%

Not enough data

1 years with return on file

Admin fee / account holder

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

$105

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 4 by compensation

Provider	Service type	Compensation
MILLIMAN, INC.7+ years Service code 13 · EIN 91-0675641	Contract Administrator	$22,365
MATRIX TRUST COMPANY4 years Service code 19 · EIN 75-3182674	Securities Custodian	$8,522
WILSON-MCSHANE CORPORATION3 years Service code 13 · EIN 41-0956552	Contract Administrator	$6,000
RESOURCES INVESTMENT ADVISORS LLC5 years Filed as: RESOURCES INVESTMENT ADVISORS Service code 26 · EIN 43-1451524	Advisory (Participants)	$5,927

Plan features & details

Pension benefit codes2G2J

Plan features

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

1 tripped

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

$51K

$114 / participant

Investment mgmt$14K28.5%
Contract admin$28K55.9%
Other / not subdivided$8K15.6%

% of EOY assets

0.228%

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

$39,852

$78,275-49.1%

$109,173-63.5%

$86,821-54.1%

Participation rate

100.0%

73.8%+26.2pp

75.9%+24.1pp

72.3%+27.7pp

Annual return

16.34%

19.14%-2.8pp

25.75%-9.4pp

97.94%-81.6pp

Employer contribution / active EE

$3,105-100.0%

$3,723-100.0%

$2,406-100.0%

Participant deferral / active EE

$3,884

$3,641+6.7%

$4,654-16.5%

$4,132-6.0%

Admin fee / account holder

$91

$198-54.2%

$6,755-98.7%

$170-46.4%

Provider

Service type

Compensation

MILLIMAN, INC.7+ years

Service code 13 · EIN 91-0675641

Contract Administrator

$22,365

MATRIX TRUST COMPANY4 years

Service code 19 · EIN 75-3182674

Securities Custodian

$8,522

WILSON-MCSHANE CORPORATION3 years

Service code 13 · EIN 41-0956552

Contract Administrator

$6,000

RESOURCES INVESTMENT ADVISORS LLC5 years

Filed as: RESOURCES INVESTMENT ADVISORS

Service code 26 · EIN 43-1451524

Advisory (Participants)

$5,927

ELECTRICAL WORKERS LOCAL 242 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ELECTRICAL WORKERS LOCAL 242 401(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