Retirement plan

SHEET METAL LOCAL 10 SUPPLEMENTAL RETIREMENT FUND

Name: TRUSTEES OF SHEET METAL LOCAL 10 SUPPLEMENTAL RETIREMENT FUND - SHEET METAL LOCAL 10 SUPPLEMENTAL RETIREMENT FUND (2023) Form 5500
Creator: TRUSTEES OF SHEET METAL LOCAL 10 SUPPLEMENTAL RETIREMENT FUND
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SHEET METAL LOCAL 10 SUPPLEMENTAL RETIREMENT FUND, TRUSTEES OF SHEET METAL LOCAL 10 SUPPLEMENTAL RETIREMENT FUND

TRUSTEES OF SHEET METAL LOCAL 10 SUPPLEMENTAL RETIREMENT FUNDEIN 41-6162383Plan #001PY 2023

1681 EAST COPE AVENUE, SUITE B - MAPLEWOOD, MN 551092631651-770-0991

Prospect flagsLow participant contribution

How to read this page

Total assets (EOY)

$520.3M

-9.6% from 2016

Total participants

4,753

-2.7% from 2016

Average account balance

$109,465

-7.7% from 2016

Annual return

12.67%

-9.95 pp from 2016

Benchmarks

See 531 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort531 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$572.55M

Not enough data

1 years with asset history on file

Average account balance

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

$119K

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.

4,801

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

$22.70M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+11.04%

Not enough data

1 years with return on file

Admin fee / account holder

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

$120

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 7 by compensation

Provider	Service type	Compensation
SHEET METAL CONTROL BOARD9+ years Service code 13 · EIN 41-1562581	Contract Administrator	$194,869
MEKETA INVESTMENT GROUP8 years Service code 27 · EIN 04-2659023	Advisory (Plan)	$105,000
CLIFTONLARSONALLEN LLP1 year Service code 10 · EIN 41-0746749	Accounting	$26,040
MCGRANN SHEA CARNIVAL STRAUGHN & LA9+ years Service code 29 · EIN 41-1654544	Legal	$25,160
JOHN HANCOCK LIFE INSURANCE COMPANY5 years Filed as: JOHN HANCOCK RETIREMENT PLAN SERVIC Service code 15 · EIN 01-0233346	Recordkeeping	$18,571
SHUMAKER, LOOP & KENDRICK, LLP1 year Filed as: SHUMAKER, LOOP & KENRICK, LLP Service code 29 · EIN 34-4439491	Legal	$18,250
JP MORGAN INVESTMENT MANAGEMENT INC3 years Filed as: SIERRA INVESTMENT MANAGEMENT Service code 28 · EIN 68-0370668	Investment Management	$9,400

Plan features & details

Pension benefit codes2E2G2J2R2T

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

1 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$471K

$110 / participant

Investment mgmt$133K28.2%
Legal$43K9.2%
Other trustee fees$9K1.9%
Contract admin$192K40.7%
Other / not subdivided$94K19.9%

% of EOY assets

0.091%

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: CLIFTONLARSONALLEN LLP
Auditor EIN: 410746749
Audit fees: $26,040
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$109,465

$88,479+23.7%

$96,543+13.4%

$80,187+36.5%

Participation rate

100.0%

79.9%+20.1pp

74.3%+25.7pp

72.9%+27.1pp

Annual return

12.67%

22.53%-9.9pp

35.75%-23.1pp

40.40%-27.7pp

Employer contribution / active EE

$4,536

$4,177+8.6%

$3,741+21.3%

$2,980+52.2%

Participant deferral / active EE

$624

$3,961-84.3%

$4,880-87.2%

$5,016-87.6%

Admin fee / account holder

$99

$211-53.1%

$6,737-98.5%

$145-31.7%

Provider

Service type

Compensation

SHEET METAL CONTROL BOARD9+ years

Service code 13 · EIN 41-1562581

Contract Administrator

$194,869

MEKETA INVESTMENT GROUP8 years

Service code 27 · EIN 04-2659023

Advisory (Plan)

$105,000

CLIFTONLARSONALLEN LLP1 year

Service code 10 · EIN 41-0746749

Accounting

$26,040

MCGRANN SHEA CARNIVAL STRAUGHN & LA9+ years

Service code 29 · EIN 41-1654544

Legal

$25,160

JOHN HANCOCK LIFE INSURANCE COMPANY5 years

Filed as: JOHN HANCOCK RETIREMENT PLAN SERVIC

Service code 15 · EIN 01-0233346

Recordkeeping

$18,571

SHUMAKER, LOOP & KENDRICK, LLP1 year

Filed as: SHUMAKER, LOOP & KENRICK, LLP

Service code 29 · EIN 34-4439491

Legal

$18,250

JP MORGAN INVESTMENT MANAGEMENT INC3 years

Filed as: SIERRA INVESTMENT MANAGEMENT

Service code 28 · EIN 68-0370668

Investment Management

$9,400

SHEET METAL LOCAL 10 SUPPLEMENTAL RETIREMENT FUND

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SHEET METAL LOCAL 10 SUPPLEMENTAL RETIREMENT 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