Retirement plan

FLORIDA MULTIEMPLOYER 401(K) PLAN

Name: FLORIDA MULTIEMPLOYER 401(K) PLAN - FLORIDA MULTIEMPLOYER 401(K) PLAN (2019) Form 5500
Creator: FLORIDA MULTIEMPLOYER 401(K) PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FLORIDA MULTIEMPLOYER 401(K) PLAN, FLORIDA MULTIEMPLOYER 401(K) PLAN

FLORIDA MULTIEMPLOYER 401(K) PLANEIN 59-3483551Plan #001PY 2019

6861 SW 196 AVE, SUITE 402 - FT LAUDERDALE, FL 33332954-366-0111

Prospect flagsHigh retiree %Low participation

How to read this page

Total assets (EOY)

$28.8M

+10.9% from 2018

Total participants

219

-33.8% from 2018

Average account balance

-100.0% from 2018

Annual return

17.60%

+22.27 pp from 2018

Benchmarks

See 15,813 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants25-99

Cohort15,813 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$27.27M

Not enough data

1 years with asset history on file

Average account balance

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

$42K

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.

649

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.

63.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$330K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$323

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

+11.37%

Not enough data

1 years with return on file

Admin fee / account holder

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

$448

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 5 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.4 years Filed as: MASS MUTUAL LIFE Service code 52 · EIN 04-1590850	Indirect Investment Fees	$147,513
MASSACHUSETTS MUTUAL LIFE INS. CO.3 years Filed as: MASSACHUSETTS MUTUAL LIFE INS CO Service code 60	Sub-TA Fees	$143,938
FLORIDA HEALTH ADMINISTRATORS3 years Service code 14 · EIN 65-0790004	Plan Administrator	$24,000
LAPADULA CARLSON & CO3 years Service code 10 · EIN 65-0292391	Accounting	$14,926
VENABLE LAW FIRM3 years Service code 29 · EIN 59-1824867	Legal	$7,928

Plan features & details

Pension benefit codes2E2F2G2J2K2T2S

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.
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 participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

Expense breakdown

Schedule H Part II

Admin total

$202K

$3545 / participant

Investment mgmt$148K73.0%
Contract admin$24K11.9%
Other / not subdivided$31K15.1%

% of EOY assets

0.701%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: LAPADULA CARLSON & CO
Auditor EIN: 650292391
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$65,364-100.0%

$92,909-100.0%

$72,975-100.0%

Participation rate

0.0%

68.3%-68.3pp

76.0%-76.0pp

69.5%-69.5pp

Annual return

17.60%

42.11%-24.5pp

109.44%-91.8pp

81.01%-63.4pp

Employer contribution / active EE

$2,559

$2,594-1.4%

$3,653-30.0%

$2,440+4.9%

Participant deferral / active EE

$4,729

$3,128+51.2%

$4,238+11.6%

$3,608+31.1%

Admin fee / account holder

$4,251-100.0%

$5,795-100.0%

$5,124-100.0%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.4 years

Filed as: MASS MUTUAL LIFE

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$147,513

MASSACHUSETTS MUTUAL LIFE INS. CO.3 years

Filed as: MASSACHUSETTS MUTUAL LIFE INS CO

Service code 60

Sub-TA Fees

$143,938

FLORIDA HEALTH ADMINISTRATORS3 years

Service code 14 · EIN 65-0790004

Plan Administrator

$24,000

LAPADULA CARLSON & CO3 years

Service code 10 · EIN 65-0292391

Accounting

$14,926

VENABLE LAW FIRM3 years

Service code 29 · EIN 59-1824867

Legal

$7,928

FLORIDA MULTIEMPLOYER 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FLORIDA MULTIEMPLOYER 401(K) 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