Retirement plan

LOCAL 8 SALARY SAVINGS PLAN

Name: MARTIGNETTI CORPORATION LOCAL 8 - LOCAL 8 SALARY SAVINGS PLAN (2020) Form 5500
Creator: MARTIGNETTI CORPORATION LOCAL 8
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LOCAL 8 SALARY SAVINGS PLAN, MARTIGNETTI CORPORATION LOCAL 8

MARTIGNETTI CORPORATION LOCAL 8EIN 46-4033150Plan #004PY 2020

500 JOHN HANCOCK ROAD - TAUNTON, MA 02780781-278-2000martignetti.comLinkedIn1001-5000 employeeswine and spirits

Other plans on this EIN

1 filing

#002Retirement-$173.8M assets

Prospect flagsHigh feesLow employer contribution

How to read this page

Total assets (EOY)

$28.9M

+18.6% from 2019

Total participants

163

+1.9% from 2019

Average account balance

$189,195

+14.0% from 2019

Annual return

18.04%

-6.08 pp from 2019

Benchmarks

See 2,271 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants100-249

Cohort2,271 peers

Snapshot2020

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$36.56M

Not enough data

1 years with asset history on file

Average account balance

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

$193K

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.

189

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.

95.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.66M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+14.68%

Not enough data

1 years with return on file

Admin fee / account holder

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

$346

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 10 of 13 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years Service code 52 · EIN 04-1590850	Indirect Investment Fees	$50,531
MORGAN STANLEY SMITH BARNEY3 years Filed as: MORGAN STANLEY SMITH BARNEY HOLDING Service code 27 · EIN 26-4310632	Advisory (Plan)	$23,548
PRICEWATERHOUSECOOPERS LLP6+ years Service code 10 · EIN 13-4008324	Accounting	$6,550
ABERDEEN ASSET MANAGEMENT, INC.4 years Filed as: ABERDEEN Service code 52 · EIN 51-0368279	Indirect Investment Fees	$0
AMERICAN FUNDS4 years Service code 52 · EIN 95-1411037	Indirect Investment Fees	$0
COLUMBIA4 years Service code 52 · EIN 36-3376651	Indirect Investment Fees	$0
FIDELITY INVESTMENTS INSTITUTIONAL3 years Filed as: FIDELITY INVESTMENTS Service code 52 · EIN 04-3365630	Indirect Investment Fees	$0
MFS INVESTMENT MANAGEMENT4 years Service code 52 · EIN 04-3158862	Indirect Investment Fees	$0
PIMCO FUNDS4 years Service code 52 · EIN 95-2632339	Indirect Investment Fees	$0
PIONEER4 years Service code 52 · EIN 04-3500606	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2J2F2G2K3D3H2S2T

Plan features

2E
Profit-sharing
Profit-sharing 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.
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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityLow employer contribution
Employer 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

$51K

$372 / participant

Investment mgmt$48K95.9%
Contract admin$2K4.1%

% of EOY assets

0.175%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.

Auditor firm: PRICEWATERHOUSECOOPERS, LLP
Auditor EIN: 134008324
Audit fees: (not subdivided)
Opinion code: Disclaimer

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$189,195

$81,474+132.2%

$133,956+41.2%

$73,488+157.4%

Participation rate

92.6%

76.4%+16.3pp

79.8%+12.8pp

70.7%+22.0pp

Annual return

18.04%

19.40%-1.4pp

45.09%-27.0pp

28.51%-10.5pp

Employer contribution / active EE

$2,209-100.0%

$3,919-100.0%

$2,270-100.0%

Participant deferral / active EE

$9,244

$3,786+144.1%

$5,048+83.1%

$3,740+147.2%

Admin fee / account holder

$330

$713-53.7%

$8,927-96.3%

$513-35.6%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$50,531

MORGAN STANLEY SMITH BARNEY3 years

Filed as: MORGAN STANLEY SMITH BARNEY HOLDING

Service code 27 · EIN 26-4310632

Advisory (Plan)

$23,548

PRICEWATERHOUSECOOPERS LLP6+ years

Service code 10 · EIN 13-4008324

Accounting

$6,550

ABERDEEN ASSET MANAGEMENT, INC.4 years

Filed as: ABERDEEN

Service code 52 · EIN 51-0368279

Indirect Investment Fees

AMERICAN FUNDS4 years

Service code 52 · EIN 95-1411037

Indirect Investment Fees

COLUMBIA4 years

Service code 52 · EIN 36-3376651

Indirect Investment Fees

FIDELITY INVESTMENTS INSTITUTIONAL3 years

Filed as: FIDELITY INVESTMENTS

Service code 52 · EIN 04-3365630

Indirect Investment Fees

MFS INVESTMENT MANAGEMENT4 years

Service code 52 · EIN 04-3158862

Indirect Investment Fees

PIMCO FUNDS4 years

Service code 52 · EIN 95-2632339

Indirect Investment Fees

PIONEER4 years

Service code 52 · EIN 04-3500606

Indirect Investment Fees

LOCAL 8 SALARY SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LOCAL 8 SALARY SAVINGS 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