Retirement plan

ELEVATOR CONSTRUCTORS UNION LOCAL 1 ANNUITY AND 401K FUND

Name: BD OF TEES OF ELEVATOR CONSTRUCTORS UNION LOCAL NO. 1 ANNUITY & 401K - ELEVATOR CONSTRUCTORS UNION LOCAL 1 ANNUITY AND 401K FUND (2023) Form 5500
Creator: BD OF TEES OF ELEVATOR CONSTRUCTORS UNION LOCAL NO. 1 ANNUITY & 401K
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ELEVATOR CONSTRUCTORS UNION LOCAL 1 ANNUITY AND 401K FUND, BD OF TEES OF ELEVATOR CONSTRUCTORS UNION LOCAL NO. 1 ANNUITY & 401K

BD OF TEES OF ELEVATOR CONSTRUCTORS UNION LOCAL NO. 1 ANNUITY & 401KEIN 51-6124191Plan #001PY 2023

140 SYLVAN AVENUE, SUITE 106 - ENGLEWOOD CLIFFS, NJ 076322514201-592-6800

Prospect flagsHigh feesHigh assets / participantFailed to transmit contributions

How to read this page

Total assets (EOY)

$1559.6M

-8.7% from 2016

Total participants

4,255

-3.3% from 2016

Average account balance

$366,534

-8.3% from 2016

Annual return

10.35%

-5.27 pp from 2016

Benchmarks

See 531 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort531 peers

Snapshot2023

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 22 by compensation

Provider	Service type	Compensation
ZENITH FINANCIAL SOLUTIONS7 years Service code 13 · EIN 83-0798660	Contract Administrator	$550,257
FOUNDRY PARTNERS9+ years Filed as: FOUNDRY PARTNERS, LLC Service code 51 · EIN 46-1184506	Investment Mgmt Fees	$504,957
COLUMBIA3 years Filed as: COLUMBIA MANAGEMENT INVESTMENT ADVI Service code 51 · EIN 41-1533211	Investment Mgmt Fees	$269,760
DANIEL A. WINTERS & COMPANY, CPAS9+ years Service code 10 · EIN 23-2586736	Accounting	$222,353
NUVEEN9+ years Filed as: NUVEEN ASSET MANAGEMENT, LLC Service code 51 · EIN 27-4357327	Investment Mgmt Fees	$215,775
THE VANGUARD GROUP, INC.9+ years Filed as: THE VANGUARD GROUP Service code 15 · EIN 23-1945930	Recordkeeping	$211,756
GREAT LAKES ADVISORS, LLC6 years Service code 51 · EIN 80-0292839	Investment Mgmt Fees	$207,717
NATIONAL INVESTMENT SERVICES7 years Filed as: NATIONAL INVESTMENT SERVICES INC Service code 28 · EIN 80-0169636	Investment Management	$205,594
SAGE ADVISORY SERVICES7 years Filed as: SAGE ADVISORY SERVICES, LTD. CO. Service code 28 · EIN 74-2798841	Investment Management	$180,744
WHITE OAK GLOBAL ADVISORS, LLC9+ years Service code 28 · EIN 26-0340395	Investment Management	$172,075

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

$4.9M

$1593 / participant

Investment mgmt$4M73.4%
Legal$249K5.0%
Contract admin$550K11.1%
Other / not subdivided$517K10.5%

% of EOY assets

0.317%

all-in expense ratio

Categories reported

3 / 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: $222,353
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$366,534

$88,479+314.3%

$96,543+279.7%

$80,187+357.1%

Participation rate

100.0%

79.9%+20.1pp

74.3%+25.7pp

72.9%+27.1pp

Annual return

10.35%

22.53%-12.2pp

35.75%-25.4pp

40.40%-30.1pp

Employer contribution / active EE

$21,080

$4,177+404.7%

$3,741+463.6%

$2,980+607.5%

Participant deferral / active EE

$8,204

$3,961+107.1%

$4,880+68.1%

$5,016+63.5%

Admin fee / account holder

$1,160

$211+448.8%

$6,737-82.8%

$145+700.3%

Provider

Service type

Compensation

ZENITH FINANCIAL SOLUTIONS7 years

Service code 13 · EIN 83-0798660

Contract Administrator

$550,257

FOUNDRY PARTNERS9+ years

Filed as: FOUNDRY PARTNERS, LLC

Service code 51 · EIN 46-1184506

Investment Mgmt Fees

$504,957

COLUMBIA3 years

Filed as: COLUMBIA MANAGEMENT INVESTMENT ADVI

Service code 51 · EIN 41-1533211

Investment Mgmt Fees

$269,760

DANIEL A. WINTERS & COMPANY, CPAS9+ years

Service code 10 · EIN 23-2586736

Accounting

$222,353

NUVEEN9+ years

Filed as: NUVEEN ASSET MANAGEMENT, LLC

Service code 51 · EIN 27-4357327

Investment Mgmt Fees

$215,775

THE VANGUARD GROUP, INC.9+ years

Filed as: THE VANGUARD GROUP

Service code 15 · EIN 23-1945930

Recordkeeping

$211,756

GREAT LAKES ADVISORS, LLC6 years

Service code 51 · EIN 80-0292839

Investment Mgmt Fees

$207,717

NATIONAL INVESTMENT SERVICES7 years

Filed as: NATIONAL INVESTMENT SERVICES INC

Service code 28 · EIN 80-0169636

Investment Management

$205,594

SAGE ADVISORY SERVICES7 years

Filed as: SAGE ADVISORY SERVICES, LTD. CO.

Service code 28 · EIN 74-2798841

Investment Management

$180,744

WHITE OAK GLOBAL ADVISORS, LLC9+ years

Service code 28 · EIN 26-0340395

Investment Management

$172,075

ELEVATOR CONSTRUCTORS UNION LOCAL 1 ANNUITY AND 401K FUND

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ELEVATOR CONSTRUCTORS UNION LOCAL 1 ANNUITY AND 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