Retirement plan

PRODUCTION SHEET METAL WORKERS' LOCAL 10 RETIREMENT PLAN

Name: BOARD OF TRUSTEES OF PRODUCTION SHEET METAL WORKERS LOCAL 10 RETIRE - PRODUCTION SHEET METAL WORKERS' LOCAL 10 RETIREMENT PLAN (2023) Form 5500
Creator: BOARD OF TRUSTEES OF PRODUCTION SHEET METAL WORKERS LOCAL 10 RETIRE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PRODUCTION SHEET METAL WORKERS' LOCAL 10 RETIREMENT PLAN, BOARD OF TRUSTEES OF PRODUCTION SHEET METAL WORKERS LOCAL 10 RETIRE

BOARD OF TRUSTEES OF PRODUCTION SHEET METAL WORKERS LOCAL 10 RETIREEIN 51-6052134Plan #001PY 2023

1681 COPE AVENUE - ST. PAUL, MN 55109651-770-2388

Prospect flagsLow returnsLow participant contribution

How to read this page

Total assets (EOY)

$33.5M

+0.9% from 2022

Total participants

919

+1.8% from 2022

Average account balance

$36,441

-0.9% from 2022

Annual return

6.93%

+16.00 pp from 2022

Benchmarks

See 1,502 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,502 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$33.50M

Not enough data

1 years with asset history on file

Average account balance

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

$41K

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.

826

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.

99.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.24M

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

+9.81%

Not enough data

1 years with return on file

Admin fee / account holder

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

$215

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
ALERUS FINANCIAL, N.A.9+ years Filed as: ALERUS RETIREMENT SOLUTIONS Service code 13 · EIN 45-6062081	Contract Administrator	$108,732
REINHART BOERNER VAN DEUREN S.C.5 years Filed as: REINHART BOERNER VAN DEUREN Service code 29 · EIN 39-1126909	Legal	$21,965
CLIFTONLARSONALLEN LLP9+ years Service code 10 · EIN 41-0746749	Accounting	$17,010
WILSON-MCSHANE CORPORATION2 years Service code 10 · EIN 41-0956552	Accounting	$7,820

Plan features & details

Pension benefit codes2E2F2G2J2T2S

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.
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.

Opportunity flags

2 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$172K

$401 / participant

Investment mgmt$30K17.4%
Legal$22K12.8%
Other trustee fees$5K2.6%
Contract admin$79K45.8%
Other / not subdivided$37K21.4%

% of EOY assets

0.514%

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: $24,830
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$36,441

$93,010-60.8%

$96,520-62.2%

$74,440-51.0%

Participation rate

100.0%

71.6%+28.4pp

74.3%+25.7pp

70.7%+29.3pp

Annual return

6.93%

37.50%-30.6pp

35.72%-28.8pp

34.37%-27.4pp

Employer contribution / active EE

$2,178

$3,427-36.4%

$3,739-41.7%

$2,638-17.4%

Participant deferral / active EE

$671

$3,971-83.1%

$4,879-86.3%

$4,529-85.2%

Admin fee / account holder

$187

$633-70.4%

$6,733-97.2%

$348-46.2%

Provider

Service type

Compensation

ALERUS FINANCIAL, N.A.9+ years

Filed as: ALERUS RETIREMENT SOLUTIONS

Service code 13 · EIN 45-6062081

Contract Administrator

$108,732

REINHART BOERNER VAN DEUREN S.C.5 years

Filed as: REINHART BOERNER VAN DEUREN

Service code 29 · EIN 39-1126909

Legal

$21,965

CLIFTONLARSONALLEN LLP9+ years

Service code 10 · EIN 41-0746749

Accounting

$17,010

WILSON-MCSHANE CORPORATION2 years

Service code 10 · EIN 41-0956552

Accounting

$7,820

PRODUCTION SHEET METAL WORKERS' LOCAL 10 RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PRODUCTION SHEET METAL WORKERS' LOCAL 10 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