Retirement plan

U.A. LOCAL NO. 447 DEFINED CONTRIBUTION PLAN AND TRUST

Name: BOARD OF TRUSTEES, U.A. LOCAL NO. 447 DEFINED - U.A. LOCAL NO. 447 DEFINED CONTRIBUTION PLAN AND TRUST (2023) Form 5500
Creator: BOARD OF TRUSTEES, U.A. LOCAL NO. 447 DEFINED
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, U.A. LOCAL NO. 447 DEFINED CONTRIBUTION PLAN AND TRUST, BOARD OF TRUSTEES, U.A. LOCAL NO. 447 DEFINED

BOARD OF TRUSTEES, U.A. LOCAL NO. 447 DEFINEDdba CONTRIBUTION PLAN AND TRUSTEIN 68-0401920Plan #002PY 2023

PO BOX 191030 - SACRAMENTO, CA 95819916-457-0821

Prospect flagsLow returnsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$95.2M

+7.8% from 2022

Total participants

1,467

+1.8% from 2022

Average account balance

$64,891

+5.9% from 2022

Annual return

7.72%

+21.60 pp from 2022

Benchmarks

See 1,502 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,502 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$123.11M

Not enough data

1 years with asset history on file

Average account balance

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

$74K

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.

688

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.

0.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$10.34M

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

+9.94%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 of 17 by compensation

Provider	Service type	Compensation
PRUDENTIAL RETIREMENT INSURANCE AND6 years Filed as: PRUDENTIAL Service code 15 · EIN 06-1050034	Recordkeeping	$75,940
CHRIS MCDANIEL8+ years Service code 14 5841 NEWMAN CT · SACRAMENTO, CA 95819	Plan Administrator	$43,295
ISLIP & CO6 years Service code 10 · EIN 68-0344156	Accounting	$42,115
BRAD BERNEL8+ years Service code 14 5841 NEWMAN CT · SACRAMENTO, CA 95819	Plan Administrator	$32,475
ALISA MUELLER8+ years Service code 14 5841 NEWMAN CT · SACRAMENTO, CA 95819	Plan Administrator	$32,261
CONNIE HIBBARD8+ years Service code 14 5841 NEWMAN CT · SACRAMENTO, CA 95819	Plan Administrator	$32,053
MICHELLE OCHOCINSKI2 years Filed as: MICHELLE PERRY Service code 14 5841 NEWMAN CT · SACRAMENTO, CA 95819	Plan Administrator	$30,792
MILLER KAPLAN ARASE LLP8+ years Service code 10 · EIN 95-2036255	Accounting	$26,000
US BANK8+ years Service code 21 · EIN 31-0841368	Bank Trustee	$25,775
CALIBER NETWORKS6 years Service code 15 · EIN 27-2155341	Recordkeeping	$23,700

Plan features & details

Pension benefit codes2C2F2H2J

Plan features

2C
Money purchase plan
Money purchase pension plan other than a target benefit 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).
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.

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 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).

Expense breakdown

Schedule H Part II

Admin total

$576K

$699 / participant

Investment mgmt$125K21.7%
Contract admin$306K53.2%
Other / not subdivided$145K25.1%

% of EOY assets

0.605%

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: MILLER KAPLAN ARASE LLP
Auditor EIN: 952036255
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$64,891

$93,010-30.2%

$96,538-32.8%

$74,473-12.9%

Participation rate

100.0%

71.6%+28.4pp

74.3%+25.7pp

70.7%+29.3pp

Annual return

7.72%

37.50%-29.8pp

35.74%-28.0pp

34.36%-26.6pp

Employer contribution / active EE

$4,514

$3,427+31.7%

$3,740+20.7%

$2,638+71.1%

Participant deferral / active EE

$5,022

$3,971+26.5%

$4,880+2.9%

$4,530+10.9%

Admin fee / account holder

$393

$633-38.0%

$6,737-94.2%

$347+13.2%

Provider

Service type

Compensation

PRUDENTIAL RETIREMENT INSURANCE AND6 years

Filed as: PRUDENTIAL

Service code 15 · EIN 06-1050034

Recordkeeping

$75,940

CHRIS MCDANIEL8+ years

Service code 14

5841 NEWMAN CT · SACRAMENTO, CA 95819

Plan Administrator

$43,295

ISLIP & CO6 years

Service code 10 · EIN 68-0344156

Accounting

$42,115

BRAD BERNEL8+ years

Service code 14

5841 NEWMAN CT · SACRAMENTO, CA 95819

Plan Administrator

$32,475

ALISA MUELLER8+ years

Service code 14

5841 NEWMAN CT · SACRAMENTO, CA 95819

Plan Administrator

$32,261

CONNIE HIBBARD8+ years

Service code 14

5841 NEWMAN CT · SACRAMENTO, CA 95819

Plan Administrator

$32,053

MICHELLE OCHOCINSKI2 years

Filed as: MICHELLE PERRY

Service code 14

5841 NEWMAN CT · SACRAMENTO, CA 95819

Plan Administrator

$30,792

MILLER KAPLAN ARASE LLP8+ years

Service code 10 · EIN 95-2036255

Accounting

$26,000

US BANK8+ years

Service code 21 · EIN 31-0841368

Bank Trustee

$25,775

CALIBER NETWORKS6 years

Service code 15 · EIN 27-2155341

Recordkeeping

$23,700

U.A. LOCAL NO. 447 DEFINED CONTRIBUTION PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

U.A. LOCAL NO. 447 DEFINED CONTRIBUTION PLAN AND TRUST

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