Retirement plan

SHEET METAL WORKERS NO. 263 RETIREMENT SVGS. PLAN

Name: BOARD OF TRUSTEES OF SHEET METAL WORKERS LOCAL UNION 263 - SHEET METAL WORKERS NO. 263 RETIREMENT SVGS. PLAN (2016) Form 5500
Creator: BOARD OF TRUSTEES OF SHEET METAL WORKERS LOCAL UNION 263
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SHEET METAL WORKERS NO. 263 RETIREMENT SVGS. PLAN, BOARD OF TRUSTEES OF SHEET METAL WORKERS LOCAL UNION 263

BOARD OF TRUSTEES OF SHEET METAL WORKERS LOCAL UNION 263EIN 42-6498549Plan #001PY 2016

150 FIRST AVENUE NE, STE 450 - CEDAR RAPIDS, IA 524011115630-472-0622smwia263.orgLinkedIn201-500 employees

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$19.5M

+9.5% from 2015

Total participants

443

+38.9% from 2015

Average account balance

$44,457

No prior year

Annual return

6.36%

+10.29 pp from 2015

Benchmarks

See 1,079 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,079 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$42.36M

Not enough data

1 years with asset history on file

Average account balance

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

$75K

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.

567

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.

98.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.89M

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

+11.89%

Not enough data

1 years with return on file

Admin fee / account holder

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

$320

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

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Service providers

Top 7 by compensation

Provider	Service type	Compensation
DIMEO SCHNEIDER & ASSOCIATES LLC2+ years Service code 16 · EIN 36-4001764 500 WEST MADISON ST, STE 1700 · CHICAGO, IL 60661	Consulting	$53,000
BENEFITS MANAGEMENT GROUP, INC.2+ years Filed as: BENEFITS MANAGEMENT GROUP INC Service code 14 · EIN 20-0188125 150 1ST AVE EAST · CEDAR RAPIDS, IA 52401	Plan Administrator	$26,400
WELLS FARGO BANK, N.A.2+ years Service code 19 · EIN 94-1347393 PO BOX 20160 · LONG BEACH, CA 90801	Securities Custodian	$18,215
LWBJ, LLP2+ years Service code 10 · EIN 42-1462849 4200 UNIVERSITY AVE, SUITE 410 · WEST DES MOINES, IA 50266	Accounting	$16,800
MILLIMAN, INC.1 year Filed as: MILLIMAN FINANCIAL RISK MANAGEMENT Service code 15 1301 FIFTH AVENUE STE 3800 · SEATTLE, WA 981012646	Recordkeeping	$10,080
BRADLEY HAUGE, CPA2+ years Service code 10 600 3RD AVE, SUITE 300 · CEDAR RAPIDS, IA 52401	Accounting	$8,327
DAY PITNEY LLP1 year Filed as: DAY RETTIG PEIFFER, PC Service code 29 · EIN 42-1386412 150 1ST AVE NE, STE 415 · CEDAR RAPIDS, IA 52401	Legal	$6,045

Plan features & details

Pension benefit codes2E2J

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$159K

$358 / participant

Investment mgmt$73K46.2%
Contract admin$26K16.6%
Other / not subdivided$59K37.2%

% of EOY assets

0.813%

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: LWBJ, LLP
Auditor EIN: 421462849
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$44,457

$57,921-23.2%

$84,753-47.5%

$57,658-22.9%

Participation rate

99.1%

72.9%+26.2pp

76.6%+22.5pp

70.2%+28.9pp

Annual return

6.36%

10.24%-3.9pp

22.78%-16.4pp

5.13%+1.2pp

Employer contribution / active EE

$1,792

$2,598-31.0%

$3,574-49.9%

$1,974-9.2%

Participant deferral / active EE

$1,153

$2,742-58.0%

$3,712-68.9%

$3,061-62.3%

Admin fee / account holder

$362

$130+178.8%

$5,333-93.2%

$95+282.5%

Provider

Service type

Compensation

DIMEO SCHNEIDER & ASSOCIATES LLC2+ years

Service code 16 · EIN 36-4001764

500 WEST MADISON ST, STE 1700 · CHICAGO, IL 60661

Consulting

$53,000

BENEFITS MANAGEMENT GROUP, INC.2+ years

Filed as: BENEFITS MANAGEMENT GROUP INC

Service code 14 · EIN 20-0188125

150 1ST AVE EAST · CEDAR RAPIDS, IA 52401

Plan Administrator

$26,400

WELLS FARGO BANK, N.A.2+ years

Service code 19 · EIN 94-1347393

PO BOX 20160 · LONG BEACH, CA 90801

Securities Custodian

$18,215

LWBJ, LLP2+ years

Service code 10 · EIN 42-1462849

4200 UNIVERSITY AVE, SUITE 410 · WEST DES MOINES, IA 50266

Accounting

$16,800

MILLIMAN, INC.1 year

Filed as: MILLIMAN FINANCIAL RISK MANAGEMENT

Service code 15

1301 FIFTH AVENUE STE 3800 · SEATTLE, WA 981012646

Recordkeeping

$10,080

BRADLEY HAUGE, CPA2+ years

Service code 10

600 3RD AVE, SUITE 300 · CEDAR RAPIDS, IA 52401

Accounting

$8,327

DAY PITNEY LLP1 year

Filed as: DAY RETTIG PEIFFER, PC

Service code 29 · EIN 42-1386412

150 1ST AVE NE, STE 415 · CEDAR RAPIDS, IA 52401

Legal

$6,045

SHEET METAL WORKERS NO. 263 RETIREMENT SVGS. PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SHEET METAL WORKERS NO. 263 RETIREMENT SVGS. 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