Retirement plan

OPERATING ENGINEERS LOCAL 77 INDIVIDUAL ACCOUNT PLAN

Name: BOARD OF TRUSTEES OPERATING ENGINEERS LOCAL 77 INDIVIDUAL ACCOUNT PLAN - OPERATING ENGINEERS LOCAL 77 INDIVIDUAL ACCOUNT PLAN (2022) Form 5500
Creator: BOARD OF TRUSTEES OPERATING ENGINEERS LOCAL 77 INDIVIDUAL ACCOUNT PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, OPERATING ENGINEERS LOCAL 77 INDIVIDUAL ACCOUNT PLAN, BOARD OF TRUSTEES OPERATING ENGINEERS LOCAL 77 INDIVIDUAL ACCOUNT PLAN

BOARD OF TRUSTEES OPERATING ENGINEERS LOCAL 77 INDIVIDUAL ACCOUNT PLANEIN 52-2241121Plan #001PY 2022

911 RIDGEBROOK ROAD - SPARKS, MD 211529459410-683-7721LinkedIn1001-5000 employeesconstruction

Prospect flagsLow assets / participantLow participant contribution

How to read this page

Total assets (EOY)

$39.9M

-12.4% from 2021

Total participants

3,258

-18.6% from 2021

Average account balance

$12,549

-19.6% from 2021

Annual return

-14.69%

-25.52 pp from 2021

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

$51.71M

Not enough data

1 years with asset history on file

Average account balance

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

$17K

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.

3,118

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.

54.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.05M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$772

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

+10.31%

Not enough data

1 years with return on file

Admin fee / account holder

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

$173

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 6 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.8+ years Filed as: MASSACHUSETTS MUTUAL LIFE INS CO Service code 64 · EIN 04-1590850	Recordkeeping Fees	$188,651
ASSOCIATED ADMINISTRATORS, LLC3 years Service code 13 · EIN 65-1205077	Contract Administrator	$102,812
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$38,805
INVESTMENT PERFORMANCE SERVICES3 years Filed as: INVESTMENT PERFORMANCE SERVICES, LL Service code 27 · EIN 58-2432390	Advisory (Plan)	$20,000
MCCHESNEY & DALE3 years Filed as: MCCHESNEY & DALE, P.C. Service code 29 · EIN 52-1842141	Legal	$14,520
CALIBRE CPA GROUP PLLC4 years Filed as: CALIBRE CPA GROUP Service code 10 · EIN 47-0900880	Accounting	$9,770

Plan features & details

Pension benefit codes2E2F2G2J2T

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.
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 assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$398K

$135 / participant

Investment mgmt$20K5.0%
Contract admin$352K88.4%
Other / not subdivided$26K6.5%

% of EOY assets

0.998%

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: CALIBRE CPA GROUP, PLLC
Auditor EIN: 470900880
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$12,549

$76,774-83.7%

$112,249-88.8%

$77,906-83.9%

Participation rate

97.4%

80.2%+17.2pp

75.1%+22.3pp

73.7%+23.7pp

Annual return

-14.69%

-10.25%-4.4pp

27.48%-42.2pp

12.16%-26.8pp

Employer contribution / active EE

$1,056

$3,977-73.5%

$3,636-71.0%

$2,846-62.9%

Participant deferral / active EE

$341

$3,778-91.0%

$4,729-92.8%

$4,805-92.9%

Admin fee / account holder

$125

$239-47.6%

$6,412-98.0%

$133-5.5%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.8+ years

Filed as: MASSACHUSETTS MUTUAL LIFE INS CO

Service code 64 · EIN 04-1590850

Recordkeeping Fees

$188,651

ASSOCIATED ADMINISTRATORS, LLC3 years

Service code 13 · EIN 65-1205077

Contract Administrator

$102,812

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$38,805

INVESTMENT PERFORMANCE SERVICES3 years

Filed as: INVESTMENT PERFORMANCE SERVICES, LL

Service code 27 · EIN 58-2432390

Advisory (Plan)

$20,000

MCCHESNEY & DALE3 years

Filed as: MCCHESNEY & DALE, P.C.

Service code 29 · EIN 52-1842141

Legal

$14,520

CALIBRE CPA GROUP PLLC4 years

Filed as: CALIBRE CPA GROUP

Service code 10 · EIN 47-0900880

Accounting

$9,770

OPERATING ENGINEERS LOCAL 77 INDIVIDUAL ACCOUNT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

OPERATING ENGINEERS LOCAL 77 INDIVIDUAL ACCOUNT 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