Retirement plan

ASBESTOS WORKERS LOCAL UNION NO 55 PENSION PLAN

Name: ASBESTOS WORKERS LOCAL UNION NO 55 - ASBESTOS WORKERS LOCAL UNION NO 55 PENSION PLAN (2020) Form 5500
Creator: ASBESTOS WORKERS LOCAL UNION NO 55
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ASBESTOS WORKERS LOCAL UNION NO 55 PENSION PLAN, ASBESTOS WORKERS LOCAL UNION NO 55

ASBESTOS WORKERS LOCAL UNION NO 55EIN 63-0474674Plan #001PY 2020

908 BUTLER DR - MOBILE, AL 366935106251-661-9703

Prospect flagsHigh retiree %High feesLow assets / participant

How to read this page

Total assets (EOY)

$14.2M

+1.8% from 2019

Total participants

271

-0.4% from 2019

Average account balance

$52,234

+2.2% from 2019

Annual return

8.30%

-12.33 pp from 2019

Benchmarks

See 272 peers

Peer group

Industry23 - Construction

Plan typeDefined benefit

Participants25-99

Cohort272 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$14.60M

Not enough data

1 years with asset history on file

Average account balance

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

$63K

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.

233

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$489K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+12.64%

Not enough data

1 years with return on file

Admin fee / account holder

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

$788

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

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Service providers

Top 6 by compensation

Provider	Service type	Compensation
WELLS FARGO BANK, N.A.1 year Filed as: WELLS FARGO Service code 21 · EIN 23-2384840	Bank Trustee	$52,050
ICC CAPITAL MANAGEMENT1 year Filed as: HIGHLAND ICC CAPITAL MANAGEMENT Service code 21 · EIN 59-3310114	Bank Trustee	$39,904
OSBORN, CARREIRO & ASSOCIATES, INC.6+ years Filed as: OSBORN, CARREIRO & ASSOCIATES Service code 11 · EIN 71-0631123 ONE UNION PLAZA SUITE 1690 · LITTLE ROCK, AR 72201	Actuarial	$18,000
COMPUSYS OF UTAH, INC.1 year Filed as: COMPUSYS OF UTAH Service code 12 · EIN 84-0869853 PO BOX 26237 · SALT LAKE CITY, UT 84126	Claims processing	$12,460
CERESA M FRENKEL PC6+ years Service code 10 · EIN 72-1400033 6324 PICCADILLY SQUARE DRIVE · MOBILE, AL 36609	Accounting	$6,800
KIMBERLY C WALKER PC6+ years Service code 22 · EIN 46-5592911 14438 SCENIC HIGHWAY 98 · FAIRHOPE, AL 36532	Insurance Broker	$347

Enrolled actuary

1 attachment

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

Plan features & details

Pension benefit codes1B

Plan features

1B
Benefits are primarily flat dollar
Benefits are primarily a flat dollar amount (including a dollar amount per year of service).

Opportunity flags

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match 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

$158K

$2319 / participant

Investment mgmt$99K63.0%
Contract admin$12K7.9%
Other / not subdivided$46K29.1%

% of EOY assets

1.114%

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: CERESA M FRENKEL, P.C.
Auditor EIN: 721400033
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$52,234

$21,551+142.4%

$165,322-68.4%

$198,586-73.7%

Participation rate

100.0%

39.2%+60.8pp

32.5%+67.5pp

13.5%+86.5pp

Annual return

8.30%

9.38%-1.1pp

8.01%+0.3pp

9.29%-1.0pp

Employer contribution / active EE

$7,220

$9,605-24.8%

$29,475-75.5%

$15,168-52.4%

Participant deferral / active EE

$735-100.0%

$67-100.0%

Admin fee / account holder

$582

$294+97.8%

$637-8.7%

$2,037-71.4%

Provider

Service type

Compensation

WELLS FARGO BANK, N.A.1 year

Filed as: WELLS FARGO

Service code 21 · EIN 23-2384840

Bank Trustee

$52,050

ICC CAPITAL MANAGEMENT1 year

Filed as: HIGHLAND ICC CAPITAL MANAGEMENT

Service code 21 · EIN 59-3310114

Bank Trustee

$39,904

OSBORN, CARREIRO & ASSOCIATES, INC.6+ years

Filed as: OSBORN, CARREIRO & ASSOCIATES

Service code 11 · EIN 71-0631123

ONE UNION PLAZA SUITE 1690 · LITTLE ROCK, AR 72201

Actuarial

$18,000

COMPUSYS OF UTAH, INC.1 year

Filed as: COMPUSYS OF UTAH

Service code 12 · EIN 84-0869853

PO BOX 26237 · SALT LAKE CITY, UT 84126

Claims processing

$12,460

CERESA M FRENKEL PC6+ years

Service code 10 · EIN 72-1400033

6324 PICCADILLY SQUARE DRIVE · MOBILE, AL 36609

Accounting

$6,800

KIMBERLY C WALKER PC6+ years

Service code 22 · EIN 46-5592911

14438 SCENIC HIGHWAY 98 · FAIRHOPE, AL 36532

Insurance Broker

$347

ASBESTOS WORKERS LOCAL UNION NO 55 PENSION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Enrolled actuary

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ASBESTOS WORKERS LOCAL UNION NO 55 PENSION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Enrolled actuary

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