Retirement plan

SHEET METAL WORKERS LOCAL NO 124 SUPPLEMENTAL RETIREMENT

Name: JOINT BOARD OF TRUSTEES - SHEET METAL LOCAL 124 - SHEET METAL WORKERS LOCAL NO 124 SUPPLEMENTAL RETIREMENT (2024) Form 5500
Creator: JOINT BOARD OF TRUSTEES - SHEET METAL LOCAL 124
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SHEET METAL WORKERS LOCAL NO 124 SUPPLEMENTAL RETIREMENT, JOINT BOARD OF TRUSTEES - SHEET METAL LOCAL 124

JOINT BOARD OF TRUSTEES - SHEET METAL LOCAL 124EIN 73-6145795Plan #002PY 2024

3717 NW 63RD ST STE 100 - OKLAHOMA CITY, OK 73116405-848-4848

Other plans on this EIN

1 filing

#001Retirement-$52.0M assets

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$34.8M

+6.7% from 2023

Total participants

441

+3.8% from 2023

Average account balance

$78,913

+2.9% from 2023

Annual return

12.18%

+0.57 pp from 2023

Benchmarks

See 1,035 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants250-999

Cohort1,035 peers

Snapshot2024

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
RBC WEALTH MANAGEMENT1 year Filed as: RBC CAPITAL MARKETS Service code 27 60 S 6TH ST · MINNEAPOLIS, MN 55402	Advisory (Plan)	$46,685
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE CO Service code 13 · EIN 84-0467907 8515 EAST ORCHARD RD · GREENWOOD VILLAGE, CO 80111	Contract Administrator	$31,670
COX, CASTLE & NICHOLSON1 year Filed as: COX HOLSTED & DIMICK PLLC Service code 13 3717 NW 63RD ST, STE 100 · OKLAHOMA CITY, OK 73116	Contract Administrator	$26,034
MCAFEE & TAFT8 years Service code 29 · EIN 73-0781676 211 N ROBINSON 10TH FL · OKLAHOMA CITY, OK 73102	Legal	$11,993
MERRILL LYNCH PIERCE FENNER & SMITH7 years Filed as: MERRILL LYNCH Service code 27 · EIN 13-5674085 1400 AMERICAN BLVD BLDG 4 · PENNINGTON, NJ 08534	Advisory (Plan)	$10,360
IMA WEALTH INC1 year Filed as: IMA SELECT LLC Service code 23 · EIN 26-3811485 PO BOX 2996 · WICHITA, KS 67201	Other insurance fees and expenses; In...	$7,807
BRYAN, LITTLE, HALEY, & KENT PC1 year Filed as: BRYAN, LITTLE, HAYLEY & KENT PC Service code 10 · EIN 73-0941849 412 E 5TH ST · BARTLESVILLE, OK 74003	Accounting	$3,500

Plan features & details

Pension benefit codes2E2F2G2J2T

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.

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

$143K

$478 / participant

Recordkeeping$31K21.5%
Investment mgmt$57K39.9%
Legal$14K9.9%
Contract admin$26K18.2%
Other / not subdivided$15K10.5%

% of EOY assets

0.411%

all-in expense ratio

Categories reported

4 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MORROW & CO. LLC CPAS
Auditor EIN: 481142797
Audit fees: $3,500
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$78,913

$65,960+19.6%

$81,844-3.6%

$77,736+1.5%

Participation rate

100.0%

65.8%+34.2pp

72.4%+27.6pp

70.6%+29.4pp

Annual return

12.18%

26.64%-14.5pp

778.87%-766.7pp

31.26%-19.1pp

Employer contribution / active EE

$4,603

$2,375+93.8%

$2,916+57.8%

$2,728+68.7%

Participant deferral / active EE

$825

$3,505-76.5%

$4,323-80.9%

$4,651-82.3%

Admin fee / account holder

$324

$526-38.4%

$7,355-95.6%

$433-25.2%

Provider

Service type

Compensation

RBC WEALTH MANAGEMENT1 year

Filed as: RBC CAPITAL MARKETS

Service code 27

60 S 6TH ST · MINNEAPOLIS, MN 55402

Advisory (Plan)

$46,685

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE CO

Service code 13 · EIN 84-0467907

8515 EAST ORCHARD RD · GREENWOOD VILLAGE, CO 80111

Contract Administrator

$31,670

COX, CASTLE & NICHOLSON1 year

Filed as: COX HOLSTED & DIMICK PLLC

Service code 13

3717 NW 63RD ST, STE 100 · OKLAHOMA CITY, OK 73116

Contract Administrator

$26,034

MCAFEE & TAFT8 years

Service code 29 · EIN 73-0781676

211 N ROBINSON 10TH FL · OKLAHOMA CITY, OK 73102

Legal

$11,993

MERRILL LYNCH PIERCE FENNER & SMITH7 years

Filed as: MERRILL LYNCH

Service code 27 · EIN 13-5674085

1400 AMERICAN BLVD BLDG 4 · PENNINGTON, NJ 08534

Advisory (Plan)

$10,360

IMA WEALTH INC1 year

Filed as: IMA SELECT LLC

Service code 23 · EIN 26-3811485

PO BOX 2996 · WICHITA, KS 67201

Other insurance fees and expenses; In...

$7,807

BRYAN, LITTLE, HALEY, & KENT PC1 year

Filed as: BRYAN, LITTLE, HAYLEY & KENT PC

Service code 10 · EIN 73-0941849

412 E 5TH ST · BARTLESVILLE, OK 74003

Accounting

$3,500

SHEET METAL WORKERS LOCAL NO 124 SUPPLEMENTAL RETIREMENT

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SHEET METAL WORKERS LOCAL NO 124 SUPPLEMENTAL RETIREMENT

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