Retirement plan

TEAMSTERS-NATIONAL 401K SAVINGS PLAN

Name: BOARD OF TRUSTEES OF THE TEAMSTERS- NATIONAL 401K SAVINGS PLAN TRUST - TEAMSTERS-NATIONAL 401K SAVINGS PLAN (2023) Form 5500
Creator: BOARD OF TRUSTEES OF THE TEAMSTERS- NATIONAL 401K SAVINGS PLAN TRUST
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TEAMSTERS-NATIONAL 401K SAVINGS PLAN, BOARD OF TRUSTEES OF THE TEAMSTERS- NATIONAL 401K SAVINGS PLAN TRUST

BOARD OF TRUSTEES OF THE TEAMSTERS- NATIONAL 401K SAVINGS PLAN TRUSTEIN 52-1967784Plan #001PY 2023

3 GATEWAY CENTER, 401 LIBERTY AVE., SUITE 1200 - PITTSBURGH, PA 152221004412-471-2885

Prospect flagsLow returnsLow participationLow employer contributionLow participant contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$1421.1M

+2.0% from 2022

Total participants

167,196

+3.0% from 2022

Average account balance

$47,250

+13.4% from 2022

Annual return

14.92%

+28.25 pp from 2022

Benchmarks

See 52 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants>=10,000

Cohort52 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.48B

Not enough data

1 years with asset history on file

Average account balance

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

$49K

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.

29,823

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.

11.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$85.88M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$563

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

+12.76%

Not enough data

1 years with return on file

Admin fee / account holder

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

$100

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 by compensation

Provider	Service type	Compensation
PRUDENTIAL RETIREMENT INSURANCE AND7 years Filed as: THE PRUDENTIAL INSURANCE COMPANY OF Service code 15 · EIN 22-1211670	Recordkeeping	$783,241
ZENITH AMERICAN SOLUTIONS7 years Service code 13 · EIN 52-1590516	Contract Administrator	$724,100
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 15 · EIN 06-1050034	Recordkeeping	$634,234
MORGAN STANLEY SMITH BARNEY6 years Filed as: MORGAN LEWIS BOCKIUS LLP Service code 29 · EIN 23-0891050	Legal	$435,928
PRUDENTIAL RETIREMENT INSURANCE AND7 years Service code 19 · EIN 06-1050034	Securities Custodian	$280,562
WITHUMSMITH+BROWN, PC2 years Service code 10 · EIN 22-2027092	Accounting	$276,071
ALAN BILLER & ASSOCIATES6 years Filed as: ALAN D BILLER ASSOCIATES Service code 27 535 MIDDLEFIELD ROAD · MELON PARK, CA 94025	Advisory (Plan)	$52,500
PRUDENTIAL RETIREMENT INSURANCE AND7 years Filed as: PRUDENTIAL INVESTMENT MANAGEMENT SE Service code 50 · EIN 13-4122960	Direct Payment	$37,005
INTERNATIONAL BROTHERHOOD OF TEAMST9+ years Filed as: INTERNATIONAL BROTHER OF TEAMSTERS Service code 35 · EIN 53-0215427	Direct payment from the plan; Employe...	$21,319
FEINBERG, DUMONT & BRENNAN2 years Filed as: FEINBERG DUMONT BRENNAN Service code 29 177 MILK STREET · BOSTON, MA 02109	Legal	$15,871

Plan features & details

Pension benefit codes2E2F2G2J2K2R2T

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

6 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow employer contribution
Employer 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.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$3.2M

$21 / participant

Recordkeeping$1M45.5%
Trustee / custodial$42K1.3%
Investment mgmt$83K2.6%
Legal$453K14.4%
Other trustee fees$6K0.2%
Contract admin$728K23.1%
Other / not subdivided$407K12.9%

% of EOY assets

0.222%

all-in expense ratio

Categories reported

6 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: WITHUMSMITH + BROWN P.C.
Auditor EIN: 222027092
Audit fees: $41,387
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$47,250

$119,999-60.6%

$70,544-33.0%

$96,393-51.0%

Participation rate

10.2%

66.2%-56.0pp

68.4%-58.2pp

71.3%-61.1pp

Annual return

14.92%

20.36%-5.4pp

32.79%-17.9pp

22.88%-8.0pp

Employer contribution / active EE

$225

$4,602-95.1%

$2,976-92.4%

$3,239-93.1%

Participant deferral / active EE

$468

$4,604-89.8%

$4,568-89.7%

$5,455-91.4%

Admin fee / account holder

$105

$95+10.8%

$6,427-98.4%

$74+41.8%

Provider

Service type

Compensation

PRUDENTIAL RETIREMENT INSURANCE AND7 years

Filed as: THE PRUDENTIAL INSURANCE COMPANY OF

Service code 15 · EIN 22-1211670

Recordkeeping

$783,241

ZENITH AMERICAN SOLUTIONS7 years

Service code 13 · EIN 52-1590516

Contract Administrator

$724,100

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 15 · EIN 06-1050034

Recordkeeping

$634,234

MORGAN STANLEY SMITH BARNEY6 years

Filed as: MORGAN LEWIS BOCKIUS LLP

Service code 29 · EIN 23-0891050

Legal

$435,928

PRUDENTIAL RETIREMENT INSURANCE AND7 years

Service code 19 · EIN 06-1050034

Securities Custodian

$280,562

WITHUMSMITH+BROWN, PC2 years

Service code 10 · EIN 22-2027092

Accounting

$276,071

ALAN BILLER & ASSOCIATES6 years

Filed as: ALAN D BILLER ASSOCIATES

Service code 27

535 MIDDLEFIELD ROAD · MELON PARK, CA 94025

Advisory (Plan)

$52,500

PRUDENTIAL RETIREMENT INSURANCE AND7 years

Filed as: PRUDENTIAL INVESTMENT MANAGEMENT SE

Service code 50 · EIN 13-4122960

Direct Payment

$37,005

INTERNATIONAL BROTHERHOOD OF TEAMST9+ years

Filed as: INTERNATIONAL BROTHER OF TEAMSTERS

Service code 35 · EIN 53-0215427

Direct payment from the plan; Employe...

$21,319

FEINBERG, DUMONT & BRENNAN2 years

Filed as: FEINBERG DUMONT BRENNAN

Service code 29

177 MILK STREET · BOSTON, MA 02109

Legal

$15,871

TEAMSTERS-NATIONAL 401K SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TEAMSTERS-NATIONAL 401K 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