Retirement plan

SHEET METAL WORKERS LOCAL NO 124 SUPPLEMENTAL RETI

Name: JT BD OF TTEES-SHEET METAL LCL 124 - SHEET METAL WORKERS LOCAL NO 124 SUPPLEMENTAL RETI (2023) 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 RETI, JT BD OF TTEES-SHEET METAL LCL 124

JT BD OF TTEES-SHEET METAL LCL 124EIN 73-6145795Plan #002PY 2023

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

Other plans on this EIN

1 filing

#001Retirement-$46.6M assets

Prospect flagsHigh retiree %Low returnsLow participant contribution

How to read this page

Total assets (EOY)

$32.6M

+8.3% from 2022

Total participants

425

+1.0% from 2022

Average account balance

$76,717

+6.5% from 2022

Annual return

11.60%

+25.91 pp from 2022

Benchmarks

See 1,011 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants250-999

Cohort1,011 peers

Snapshot2023

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 6 by compensation

Provider	Service type	Compensation
DIMICK, HYDE, & LEWIS, PC2 years Filed as: DIMICK & LEWIS, PC Service code 13 · EIN 73-1158890	Contract Administrator	$31,601
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER RETIREMENT Service code 13 · EIN 84-0467907	Contract Administrator	$23,847
MERRILL LYNCH PIERCE FENNER & SMITH6 years Filed as: MERRILL LYNCH Service code 27 · EIN 13-5674085	Advisory (Plan)	$21,812
MCAFEE & TAFT7 years Service code 29 · EIN 73-0781676	Legal	$15,441
BRYAN, LITTLE, HALEY, & KENT PC1 year Filed as: BRYAN, LITTLE, HALEY & KENT PC Service code 10 · EIN 73-0941849	Accounting	$10,250
IMA WEALTH INC6 years Filed as: IMA SELECT Service code 23 · EIN 26-3811485	Other insurance fees and expenses; In...	$8,094

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

3 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
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

$113K

$407 / participant

Investment mgmt$22K19.3%
Contract admin$55K49.0%
Other / not subdivided$36K31.8%

% of EOY assets

0.347%

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

$76,717

$52,188+47.0%

$86,656-11.5%

$74,473+3.0%

Participation rate

100.0%

66.3%+33.7pp

71.7%+28.3pp

70.7%+29.3pp

Annual return

11.60%

44.46%-32.9pp

593.09%-581.5pp

34.36%-22.8pp

Employer contribution / active EE

$4,681

$2,282+105.2%

$3,025+54.7%

$2,638+77.4%

Participant deferral / active EE

$771

$3,383-77.2%

$4,439-82.6%

$4,530-83.0%

Admin fee / account holder

$266

$319-16.4%

$5,619-95.3%

$347-23.2%

Provider

Service type

Compensation

DIMICK, HYDE, & LEWIS, PC2 years

Filed as: DIMICK & LEWIS, PC

Service code 13 · EIN 73-1158890

Contract Administrator

$31,601

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER RETIREMENT

Service code 13 · EIN 84-0467907

Contract Administrator

$23,847

MERRILL LYNCH PIERCE FENNER & SMITH6 years

Filed as: MERRILL LYNCH

Service code 27 · EIN 13-5674085

Advisory (Plan)

$21,812

MCAFEE & TAFT7 years

Service code 29 · EIN 73-0781676

Legal

$15,441

BRYAN, LITTLE, HALEY, & KENT PC1 year

Filed as: BRYAN, LITTLE, HALEY & KENT PC

Service code 10 · EIN 73-0941849

Accounting

$10,250

IMA WEALTH INC6 years

Filed as: IMA SELECT

Service code 23 · EIN 26-3811485

Other insurance fees and expenses; In...

$8,094

SHEET METAL WORKERS LOCAL NO 124 SUPPLEMENTAL RETI

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SHEET METAL WORKERS LOCAL NO 124 SUPPLEMENTAL RETI

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