Retirement plan

PAINTERS AND ALLIED TRADES LOCAL 1959 RETIREMENT PLAN

Name: BOARD OF TRUSTEES OF PAINTERS AND ALLIED TRADE L 1959 RETIREMENT PL - PAINTERS AND ALLIED TRADES LOCAL 1959 RETIREMENT PLAN (2022) Form 5500
Creator: BOARD OF TRUSTEES OF PAINTERS AND ALLIED TRADE L 1959 RETIREMENT PL
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PAINTERS AND ALLIED TRADES LOCAL 1959 RETIREMENT PLAN, BOARD OF TRUSTEES OF PAINTERS AND ALLIED TRADE L 1959 RETIREMENT PL

BOARD OF TRUSTEES OF PAINTERS AND ALLIED TRADE L 1959 RETIREMENT PLEIN 45-3480450Plan #001PY 2022

7525 SE 24TH ST, SUITE 200 - MERCER ISLAND, WA 98040206-441-7574

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$10.4M

-15.3% from 2021

Total participants

417

+3.5% from 2021

Average account balance

$25,087

-17.9% from 2021

Annual return

-17.42%

-28.11 pp from 2021

Benchmarks

See 1,393 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,393 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$14.16M

Not enough data

1 years with asset history on file

Average account balance

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

$33K

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.

434

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.

98.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.18M

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

+9.65%

Not enough data

1 years with return on file

Admin fee / account holder

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

$341

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
THE SEGAL COMPANY6 years Filed as: SEGAL MARCO ADVISORS Service code 27 · EIN 13-2646110 333 WEST 34TH ST · NEW YORK, NY 100012402	Advisory (Plan)	$50,000
LABOR TRUST SERVICES, INC.8+ years Service code 13 · EIN 92-0134212 375 W 36TH AVE · ANCHORAGE, AK 99503	Contract Administrator	$31,230
JOHN HANCOCK LIFE INSURANCE COMPANY4 years Filed as: JOHN HANCOCK RETIREMENT SERVICES Service code 15 · EIN 01-0233346 690 CANTON STREET · WESTWOOD, MA 02090	Recordkeeping	$28,168
BJORKLUND & MONTPLAISIR3 years Filed as: BJORKLUND & MONTPLAISIR CPAS Service code 10 · EIN 91-1015766 10300 SW GREENBURG RD · PORTLAND, OR 97223	Accounting	$9,900
JERMAIN, DUNNAGAN & OWENS, PC8+ years Service code 29 · EIN 45-3480450 3000 A STREET STE 300 · ANCHORAGE, AK 99503	Legal	$6,238
WITHUMSMITH+BROWN, PC1 year Filed as: WITHUM SMITH BROWN Service code 10 · EIN 52-2385296 9955 SE WASHINGTON ST 2 · PORTLAND, OR 97216	Accounting	$2,964

Plan features & details

Pension benefit codes2C2F2G2T

Plan features

2C
Money purchase plan
Money purchase pension plan other than a target benefit plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$163K

$410 / participant

Investment mgmt$50K30.7%
Contract admin$59K36.5%
Other / not subdivided$54K32.9%

% of EOY assets

1.561%

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: BJORKLUND & MONTPLAISIR
Auditor EIN: 931015766
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$25,087

$106,236-76.4%

$112,249-77.7%

$64,819-61.3%

Participation rate

99.7%

71.7%+28.1pp

75.1%+24.7pp

71.5%+28.3pp

Annual return

-17.42%

-6.02%-11.4pp

27.48%-44.9pp

32.84%-50.3pp

Employer contribution / active EE

$2,578

$3,166-18.6%

$3,636-29.1%

$2,507+2.8%

Participant deferral / active EE

$3,785-100.0%

$4,729-100.0%

$4,311-100.0%

Admin fee / account holder

$392

$452-13.3%

$6,412-93.9%

$188+108.5%

Provider

Service type

Compensation

THE SEGAL COMPANY6 years

Filed as: SEGAL MARCO ADVISORS

Service code 27 · EIN 13-2646110

333 WEST 34TH ST · NEW YORK, NY 100012402

Advisory (Plan)

$50,000

LABOR TRUST SERVICES, INC.8+ years

Service code 13 · EIN 92-0134212

375 W 36TH AVE · ANCHORAGE, AK 99503

Contract Administrator

$31,230

JOHN HANCOCK LIFE INSURANCE COMPANY4 years

Filed as: JOHN HANCOCK RETIREMENT SERVICES

Service code 15 · EIN 01-0233346

690 CANTON STREET · WESTWOOD, MA 02090

Recordkeeping

$28,168

BJORKLUND & MONTPLAISIR3 years

Filed as: BJORKLUND & MONTPLAISIR CPAS

Service code 10 · EIN 91-1015766

10300 SW GREENBURG RD · PORTLAND, OR 97223

Accounting

$9,900

JERMAIN, DUNNAGAN & OWENS, PC8+ years

Service code 29 · EIN 45-3480450

3000 A STREET STE 300 · ANCHORAGE, AK 99503

Legal

$6,238

WITHUMSMITH+BROWN, PC1 year

Filed as: WITHUM SMITH BROWN

Service code 10 · EIN 52-2385296

9955 SE WASHINGTON ST 2 · PORTLAND, OR 97216

Accounting

$2,964

PAINTERS AND ALLIED TRADES LOCAL 1959 RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PAINTERS AND ALLIED TRADES LOCAL 1959 RETIREMENT 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