Retirement plan

DISTRICT COUNCIL NO. 14 METAL POLISHERS 401(K)

Name: BOARD OF TRUSTEES OF DISTRICT COUNCIL NO. 14 METAL POLISHERS - DISTRICT COUNCIL NO. 14 METAL POLISHERS 401(K) (2024) Form 5500
Creator: BOARD OF TRUSTEES OF DISTRICT COUNCIL NO. 14 METAL POLISHERS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, DISTRICT COUNCIL NO. 14 METAL POLISHERS 401(K), BOARD OF TRUSTEES OF DISTRICT COUNCIL NO. 14 METAL POLISHERS

BOARD OF TRUSTEES OF DISTRICT COUNCIL NO. 14 METAL POLISHERSEIN 80-0967624Plan #001PY 2024

8205 S. CASS AVENUE, SUITE 102 - DARIEN, IL 605615319630-960-5572

Prospect flagsLow participant contributionLow fidelity bondFailed to transmit contributions

How to read this page

Total assets (EOY)

$7.7M

+11.1% from 2023

Total participants

187

+10.7% from 2023

Average account balance

$40,944

+0.4% from 2023

Annual return

12.99%

-3.81 pp from 2023

Benchmarks

See 3,445 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort3,445 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.66M

Not enough data

1 years with asset history on file

Average account balance

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

$41K

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.

187

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

$377K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+12.99%

Not enough data

1 years with return on file

Admin fee / account holder

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

$228

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 3 by compensation

Provider	Service type	Compensation
LEGACY PROFESSIONALS LLP2 years Service code 10 · EIN 32-0043599	Accounting	$17,500
TRANSAMERICA RETIREMENT SOLUTIONS10+ years Service code 12 · EIN 13-3689044	Direct payment from the plan; Investm...	$3,110
NATIONAL FINANCIAL SERVICES10+ years Service code 33 · EIN 04-3523567	Securities brokerage; Securities brok...	$0

Plan features & details

Pension benefit codes2E2F2J2K2S2T

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).
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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

3 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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

$43K

$280 / participant

Trustee / custodial$9422.2%
Legal$1060.2%
Salaries / allowances$15K34.4%
Contract admin$3K7.3%
Other / not subdivided$24K55.8%

% of EOY assets

0.557%

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: LEGACY PROFESSIONALS LLP
Auditor EIN: 320043599
Audit fees: $17,500
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$40,944

$80,763-49.3%

$102,412-60.0%

$74,459-45.0%

Participation rate

100.0%

65.7%+34.3pp

74.5%+25.5pp

67.2%+32.8pp

Annual return

12.99%

27.57%-14.6pp

24.94%-11.9pp

1369.70%-1356.7pp

Employer contribution / active EE

$1,508

$3,160-52.3%

$3,870-61.0%

$2,626-42.6%

Participant deferral / active EE

$970

$3,862-74.9%

$5,060-80.8%

$4,350-77.7%

Admin fee / account holder

$228

$2,371-90.4%

$8,388-97.3%

$1,945-88.3%

Provider

Service type

Compensation

LEGACY PROFESSIONALS LLP2 years

Service code 10 · EIN 32-0043599

Accounting

$17,500

TRANSAMERICA RETIREMENT SOLUTIONS10+ years

Service code 12 · EIN 13-3689044

Direct payment from the plan; Investm...

$3,110

NATIONAL FINANCIAL SERVICES10+ years

Service code 33 · EIN 04-3523567

Securities brokerage; Securities brok...

DISTRICT COUNCIL NO. 14 METAL POLISHERS 401(K)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

DISTRICT COUNCIL NO. 14 METAL POLISHERS 401(K)

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