Retirement plan

SHEET METAL WORKERS LOCAL NO 124 SUPPLEMENTAL RETIREMENT PLAN

Name: JT BD OF TTEES-SHEET METAL LCL 124 - SHEET METAL WORKERS LOCAL NO 124 SUPPLEMENTAL RETIREMENT PLAN (2022) Form 5500
Creator: JT BD OF TTEES-SHEET METAL LCL 124
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SHEET METAL WORKERS LOCAL NO 124 SUPPLEMENTAL RETIREMENT PLAN, JT BD OF TTEES-SHEET METAL LCL 124

JT BD OF TTEES-SHEET METAL LCL 124EIN 73-6145795Plan #002PY 2022

3717 NW 63RD STREET, SUITE 100 - OKLAHOMA CITY, OK 73116405-848-4848

Other plans on this EIN

1 filing

#001Retirement-$42.7M assets

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$30.1M

-17.3% from 2021

Total participants

421

-4.8% from 2021

Average account balance

$72,001

-18.1% from 2021

Annual return

-14.31%

-41.79 pp from 2021

Benchmarks

See 1,529 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,529 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$37.89M

Not enough data

1 years with asset history on file

Average account balance

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

$83K

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.

456

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

$1.73M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+11.52%

Not enough data

1 years with return on file

Admin fee / account holder

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

$341

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 7 by compensation

Provider	Service type	Compensation
MERRILL LYNCH PIERCE FENNER & SMITH5 years Filed as: MERRILL LYNCH Service code 27 · EIN 13-5674085	Advisory (Plan)	$61,299
DIMICK, HYDE, & LEWIS, PC1 year Filed as: DIMICK & LEWIS, PC Service code 13 · EIN 73-1158890	Contract Administrator	$31,591
MCAFEE & TAFT6 years Service code 29 · EIN 73-0781676	Legal	$24,961
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER RETIREMENT Service code 13 · EIN 84-0467907	Contract Administrator	$19,110
PRINCIPAL LIFE INSURANCE COMPANY5 years Service code 13 · EIN 42-0127290	Contract Administrator	$15,748
BRYAN, LITTLE, HALEY, & KENT PC4 years Service code 10 · EIN 73-0941849	Accounting	$9,750
IMA WEALTH INC5 years Filed as: IMA SELECT Service code 23 · EIN 26-3811485	Insurance services; Other insurance f...	$8,305

Plan features & details

Pension benefit codes2E2F2G2J2T3C

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.
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.
3C
Plan not intended to be qualified
A plan not intended to be qualified under Code sections 401 403 or 408.

Opportunity flags

2 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$175K

$652 / participant

Investment mgmt$61K35.1%
Contract admin$47K27.1%
Other / not subdivided$66K37.8%

% of EOY assets

0.581%

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: BRYAN, LITTLE, HALEY & KENT PC
Auditor EIN: 730941849
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$72,001

$86,897-17.1%

$151,645-52.5%

$64,824+11.1%

Participation rate

98.9%

87.3%+11.6pp

87.5%+11.4pp

71.5%+27.4pp

Annual return

-14.31%

-3.57%-10.7pp

3.34%-17.6pp

32.84%-47.2pp

Employer contribution / active EE

$3,844

$4,010-4.1%

$6,165-37.6%

$2,507+53.3%

Participant deferral / active EE

$760

$6,690-88.6%

$8,363-90.9%

$4,311-82.4%

Admin fee / account holder

$418

$153+173.4%

$11,614-96.4%

$188+122.6%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH5 years

Filed as: MERRILL LYNCH

Service code 27 · EIN 13-5674085

Advisory (Plan)

$61,299

DIMICK, HYDE, & LEWIS, PC1 year

Filed as: DIMICK & LEWIS, PC

Service code 13 · EIN 73-1158890

Contract Administrator

$31,591

MCAFEE & TAFT6 years

Service code 29 · EIN 73-0781676

Legal

$24,961

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER RETIREMENT

Service code 13 · EIN 84-0467907

Contract Administrator

$19,110

PRINCIPAL LIFE INSURANCE COMPANY5 years

Service code 13 · EIN 42-0127290

Contract Administrator

$15,748

BRYAN, LITTLE, HALEY, & KENT PC4 years

Service code 10 · EIN 73-0941849

Accounting

$9,750

IMA WEALTH INC5 years

Filed as: IMA SELECT

Service code 23 · EIN 26-3811485

Insurance services; Other insurance f...

$8,305

SHEET METAL WORKERS LOCAL NO 124 SUPPLEMENTAL RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SHEET METAL WORKERS LOCAL NO 124 SUPPLEMENTAL RETIREMENT 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