Retirement plan

LOCAL 344 ANNUITY FUND PLAN

Name: PLUMBERS AND PIPEFITTERS LOCAL 344 - LOCAL 344 ANNUITY FUND PLAN (2023) Form 5500
Creator: PLUMBERS AND PIPEFITTERS LOCAL 344
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LOCAL 344 ANNUITY FUND PLAN, PLUMBERS AND PIPEFITTERS LOCAL 344

PLUMBERS AND PIPEFITTERS LOCAL 344EIN 73-0467693Plan #001PY 2023

4337 SOUTHWEST 44TH - OKLAHOMA CITY, OK 73119405-682-4581LinkedIn1001-5000 employeesindividual & family services

Prospect flagsLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$55.2M

+12.4% from 2022

Total participants

1,508

+9.7% from 2022

Average account balance

$40,320

+11.4% from 2022

Annual return

14.38%

+27.55 pp from 2022

Benchmarks

See 531 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort531 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$61.60M

Not enough data

1 years with asset history on file

Average account balance

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

$40K

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.

1,531

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.

94.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.99M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+12.97%

Not enough data

1 years with return on file

Admin fee / account holder

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

$183

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 4 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INS. CO. OF AMERICA Service code 64 8515 EAST ORCHARD RD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$214,598
RBG CAPITAL MARKETS, LLC4 years Service code 27 · EIN 41-1416330	Advisory (Plan)	$75,634
EMPLOYEE BENEFITS GROUP, LLC9+ years Service code 13 · EIN 73-1554797	Contract Administrator	$40,331
PLUMBERS&PIPEFITTERS HEALTH&WELFARE9+ years Service code 50 · EIN 73-0950060	Direct Payment	$26,098

Plan features & details

Pension benefit codes2E2G2J2T

Plan features

2E
Profit-sharing
Profit-sharing 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.
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.
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

$243K

$178 / participant

Investment mgmt$76K31.1%
Contract admin$133K54.9%
Other / not subdivided$34K13.9%

% of EOY assets

0.440%

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: RUBINBROWN LLP
Auditor EIN: 430765316
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$40,320

$88,479-54.4%

$96,515-58.2%

$80,157-49.7%

Participation rate

89.8%

79.9%+9.9pp

74.3%+15.5pp

72.9%+16.9pp

Annual return

14.38%

22.53%-8.1pp

35.73%-21.3pp

40.39%-26.0pp

Employer contribution / active EE

$1,969

$4,177-52.9%

$3,740-47.3%

$2,977-33.9%

Participant deferral / active EE

$422

$3,961-89.3%

$4,880-91.4%

$5,015-91.6%

Admin fee / account holder

$178

$211-16.1%

$6,735-97.4%

$145+22.5%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INS. CO. OF AMERICA

Service code 64

8515 EAST ORCHARD RD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$214,598

RBG CAPITAL MARKETS, LLC4 years

Service code 27 · EIN 41-1416330

Advisory (Plan)

$75,634

EMPLOYEE BENEFITS GROUP, LLC9+ years

Service code 13 · EIN 73-1554797

Contract Administrator

$40,331

PLUMBERS&PIPEFITTERS HEALTH&WELFARE9+ years

Service code 50 · EIN 73-0950060

Direct Payment

$26,098

LOCAL 344 ANNUITY FUND PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LOCAL 344 ANNUITY FUND 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