Retirement plan

ELEVATOR CONSTRUCTORS LOCAL 1 ANNUITY & 401K FD UNION LOCAL NO. 1 ANNUITY & 401K FUND

Name: BD OF TEES OF ELEVATOR CONSTRUCTORS UNION LOCAL NO. 1 ANNUITY & 401K F - ELEVATOR CONSTRUCTORS LOCAL 1 ANNUITY & 401K FD UNION LOCAL NO. 1 ANNUITY & 401K FUND (2022) Form 5500
Creator: BD OF TEES OF ELEVATOR CONSTRUCTORS UNION LOCAL NO. 1 ANNUITY & 401K F
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ELEVATOR CONSTRUCTORS LOCAL 1 ANNUITY & 401K FD UNION LOCAL NO. 1 ANNUITY & 401K FUND, BD OF TEES OF ELEVATOR CONSTRUCTORS UNION LOCAL NO. 1 ANNUITY & 401K F

BD OF TEES OF ELEVATOR CONSTRUCTORS UNION LOCAL NO. 1 ANNUITY & 401K FEIN 51-6124191Plan #001PY 2022

140 SYLVAN AVENUE, SUITE 303 - ENGLEWOOD CLIFFS, NJ 076322514201-592-6800

Prospect flagsHigh feesHigh assets / participantFailed to transmit contributions

How to read this page

Total assets (EOY)

$1394.7M

-8.7% from 2016

Total participants

4,395

-3.3% from 2016

Average account balance

$317,333

-8.3% from 2016

Annual return

-10.51%

-5.27 pp from 2016

Benchmarks

See 502 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort502 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.71B

Not enough data

1 years with asset history on file

Average account balance

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

$412K

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.

4,140

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.

95.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$97.16M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$32K

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

+9.48%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1159

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 10 of 24 by compensation

Provider	Service type	Compensation
ZENITH FINANCIAL SOLUTIONS6 years Service code 13 · EIN 83-0798660	Contract Administrator	$528,394
FOUNDRY PARTNERS8+ years Filed as: FOUNDRY PARTNERS, LLC Service code 51 · EIN 46-1184506	Investment Mgmt Fees	$473,916
NUVEEN8+ years Filed as: NUVEEN ASSET MANAGEMENT, LLC Service code 51 · EIN 27-4357327	Investment Mgmt Fees	$280,650
THE VANGUARD GROUP, INC.8+ years Filed as: THE VANGUARD GROUP Service code 15 · EIN 23-1945930	Recordkeeping	$249,274
DANIEL A. WINTERS & COMPANY, CPAS8+ years Service code 10 · EIN 23-2586736	Accounting	$215,240
COLUMBIA2 years Filed as: COLUMBIA MANAGEMENT INVESTMENT ADVI Service code 51 · EIN 41-1533211	Investment Mgmt Fees	$207,429
GREAT LAKES ADVISORS, LLC5 years Service code 51 · EIN 80-0292839	Investment Mgmt Fees	$192,224
NATIONAL INVESTMENT SERVICES6 years Filed as: NATIONAL INVESTMENT SERVICES INC Service code 28 · EIN 80-0169636	Investment Management	$180,420
WHITE OAK GLOBAL ADVISORS, LLC8+ years Service code 28 · EIN 26-0340395	Investment Management	$178,165
MORGAN STANLEY SMITH BARNEY8+ years Filed as: GRAYSTONE CONSULTING Service code 27 · EIN 20-8764829	Advisory (Plan)	$170,240

Plan features & details

Pension benefit codes2E2H2J

Plan features

2E
Profit-sharing
Profit-sharing plan.
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.

Opportunity flags

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$5.1M

$1537 / participant

Investment mgmt$4M73.5%
Contract admin$528K10.4%
Other / not subdivided$815K16.1%

% of EOY assets

0.363%

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: DANIEL A. WINTERS & COMPANY
Auditor EIN: 232586736
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$317,333

$76,774+313.3%

$112,270+182.7%

$77,906+307.3%

Participation rate

100.0%

80.2%+19.8pp

75.1%+24.9pp

73.7%+26.3pp

Annual return

-10.51%

-10.25%-0.3pp

27.49%-38.0pp

12.16%-22.7pp

Employer contribution / active EE

$20,557

$3,977+416.9%

$3,635+465.5%

$2,846+622.2%

Participant deferral / active EE

$7,246

$3,778+91.8%

$4,729+53.2%

$4,805+50.8%

Admin fee / account holder

$1,153

$239+382.7%

$6,411-82.0%

$133+769.8%

Provider

Service type

Compensation

ZENITH FINANCIAL SOLUTIONS6 years

Service code 13 · EIN 83-0798660

Contract Administrator

$528,394

FOUNDRY PARTNERS8+ years

Filed as: FOUNDRY PARTNERS, LLC

Service code 51 · EIN 46-1184506

Investment Mgmt Fees

$473,916

NUVEEN8+ years

Filed as: NUVEEN ASSET MANAGEMENT, LLC

Service code 51 · EIN 27-4357327

Investment Mgmt Fees

$280,650

THE VANGUARD GROUP, INC.8+ years

Filed as: THE VANGUARD GROUP

Service code 15 · EIN 23-1945930

Recordkeeping

$249,274

DANIEL A. WINTERS & COMPANY, CPAS8+ years

Service code 10 · EIN 23-2586736

Accounting

$215,240

COLUMBIA2 years

Filed as: COLUMBIA MANAGEMENT INVESTMENT ADVI

Service code 51 · EIN 41-1533211

Investment Mgmt Fees

$207,429

GREAT LAKES ADVISORS, LLC5 years

Service code 51 · EIN 80-0292839

Investment Mgmt Fees

$192,224

NATIONAL INVESTMENT SERVICES6 years

Filed as: NATIONAL INVESTMENT SERVICES INC

Service code 28 · EIN 80-0169636

Investment Management

$180,420

WHITE OAK GLOBAL ADVISORS, LLC8+ years

Service code 28 · EIN 26-0340395

Investment Management

$178,165

MORGAN STANLEY SMITH BARNEY8+ years

Filed as: GRAYSTONE CONSULTING

Service code 27 · EIN 20-8764829

Advisory (Plan)

$170,240

ELEVATOR CONSTRUCTORS LOCAL 1 ANNUITY & 401K FD UNION LOCAL NO. 1 ANNUITY & 401K FUND

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ELEVATOR CONSTRUCTORS LOCAL 1 ANNUITY & 401K FD UNION LOCAL NO. 1 ANNUITY & 401K 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