Retirement plan

IRON WORKERS LOCAL UNION NO. 92 MONEY PURCHASE PENSION PLAN

Name: IRON WORKERS LOCAL UNION NO. 92 - IRON WORKERS LOCAL UNION NO. 92 MONEY PURCHASE PENSION PLAN (2021) Form 5500
Creator: IRON WORKERS LOCAL UNION NO. 92
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IRON WORKERS LOCAL UNION NO. 92 MONEY PURCHASE PENSION PLAN, IRON WORKERS LOCAL UNION NO. 92

IRON WORKERS LOCAL UNION NO. 92EIN 63-0880818Plan #002PY 2021

2828 FOURTH AVENUE SOUTH - BIRMINGHAM, AL 35233205-323-2205LinkedIn501-1000 employeesconstruction

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$51.9M

+10.8% from 2020

Total participants

786

-0.9% from 2020

Average account balance

$65,983

+11.8% from 2020

Annual return

9.86%

+1.78 pp from 2020

Benchmarks

See 1,300 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,300 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$58.14M

Not enough data

1 years with asset history on file

Average account balance

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

$59K

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.

982

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

$4.53M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+8.80%

Not enough data

1 years with return on file

Admin fee / account holder

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

$224

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 7 by compensation

Provider	Service type	Compensation
JOHN HANCOCK LIFE INSURANCE COMPANY2 years Filed as: JOHN HANCOCK RETIREMENT PLAN Service code 15 200 BERKELEY ST · BOSTON, MA 02116	Recordkeeping	$215,205
DANIELS, IRWIN & AYLOR6 years Filed as: DANIELS IRWIN & AYLOR Service code 10 · EIN 62-1802605 223 MADISON ST, STE 112 · MADISON, TN 37115	Accounting	$24,148
INVESTMENT PERFORMANCE SERVICES7+ years Filed as: INVESTMENT PERFORMANCE SERVICES LLC Service code 27 7402 HODGSON MEMORIAL DR · SAVANNAH, GA 31406	Advisory (Plan)	$22,500
COMPUSYS OF UTAH, INC.1 year Service code 14 · EIN 84-0869853 1293 W. 2200 SOUTH STE A · SALT LAKE CITY, UT 841191326	Plan Administrator	$20,028
QUINN CONNOR WEAVER DAVIES & ROUCO7+ years Filed as: QUINN, CONNOR, WEAVER, DAVIS LLP Service code 29 · EIN 45-1444874 2700 HIGHWAY 280 STE 380 · BIRMINGHAM, AL 35223	Legal	$14,140
BENESYS, INC.5 years Filed as: INNOVATIVE SOFTWARE SOLUTIONS Service code 15 3000 S. LENOLA RD. · MAPLE SHADE, NJ 08052	Recordkeeping	$12,800
KAREN AMARI7+ years Service code 30 · EIN 63-0880818 2828 FOURTH AVE S · BIRMINGHAM, AL 35233	Employee (plan)	$10,496

Plan features & details

Pension benefit codes2C2G

Plan features

2C
Money purchase plan
Money purchase pension plan other than a target benefit plan.
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.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$355K

$570 / participant

Investment mgmt$238K67.0%
Contract admin$20K5.6%
Other / not subdivided$97K27.3%

% of EOY assets

0.684%

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: DANIELS, IRWIN & AYLOR, CPAS
Auditor EIN: 621802605
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$65,983

$78,275-15.7%

$109,173-39.6%

$86,821-24.0%

Participation rate

100.0%

73.8%+26.2pp

75.9%+24.1pp

72.3%+27.7pp

Annual return

9.86%

19.14%-9.3pp

25.75%-15.9pp

97.94%-88.1pp

Employer contribution / active EE

$6,336

$3,105+104.1%

$3,723+70.2%

$2,406+163.3%

Participant deferral / active EE

$3,641-100.0%

$4,654-100.0%

$4,132-100.0%

Admin fee / account holder

$451

$198+127.4%

$6,755-93.3%

$170+166.1%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY2 years

Filed as: JOHN HANCOCK RETIREMENT PLAN

Service code 15

200 BERKELEY ST · BOSTON, MA 02116

Recordkeeping

$215,205

DANIELS, IRWIN & AYLOR6 years

Filed as: DANIELS IRWIN & AYLOR

Service code 10 · EIN 62-1802605

223 MADISON ST, STE 112 · MADISON, TN 37115

Accounting

$24,148

INVESTMENT PERFORMANCE SERVICES7+ years

Filed as: INVESTMENT PERFORMANCE SERVICES LLC

Service code 27

7402 HODGSON MEMORIAL DR · SAVANNAH, GA 31406

Advisory (Plan)

$22,500

COMPUSYS OF UTAH, INC.1 year

Service code 14 · EIN 84-0869853

1293 W. 2200 SOUTH STE A · SALT LAKE CITY, UT 841191326

Plan Administrator

$20,028

QUINN CONNOR WEAVER DAVIES & ROUCO7+ years

Filed as: QUINN, CONNOR, WEAVER, DAVIS LLP

Service code 29 · EIN 45-1444874

2700 HIGHWAY 280 STE 380 · BIRMINGHAM, AL 35223

Legal

$14,140

BENESYS, INC.5 years

Filed as: INNOVATIVE SOFTWARE SOLUTIONS

Service code 15

3000 S. LENOLA RD. · MAPLE SHADE, NJ 08052

Recordkeeping

$12,800

KAREN AMARI7+ years

Service code 30 · EIN 63-0880818

2828 FOURTH AVE S · BIRMINGHAM, AL 35233

Employee (plan)

$10,496

IRON WORKERS LOCAL UNION NO. 92 MONEY PURCHASE PENSION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IRON WORKERS LOCAL UNION NO. 92 MONEY PURCHASE PENSION 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