Retirement plan

OPERATING ENGINEERS LOCAL 428 ANNUITY TRUST FUND

Name: OPERATING ENGINEERS LOCAL 428 ANNUITY TRUST FUND - OPERATING ENGINEERS LOCAL 428 ANNUITY TRUST FUND (2023) Form 5500
Creator: OPERATING ENGINEERS LOCAL 428 ANNUITY TRUST FUND
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, OPERATING ENGINEERS LOCAL 428 ANNUITY TRUST FUND, OPERATING ENGINEERS LOCAL 428 ANNUITY TRUST FUND

OPERATING ENGINEERS LOCAL 428 ANNUITY TRUST FUNDEIN 86-6025732Plan #002PY 2023

2550 W UNION HILLS DR STE 290 - PHOENIX, AZ 850275198602-249-3582LinkedIn5001-10000 employeesconstruction

Other plans on this EIN

1 filing

#001Retirement-$19.5M assets

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$291.3M

-16.4% from 2017

Total participants

7,789

+2.2% from 2017

Average account balance

$37,403

-18.2% from 2017

Annual return

11.69%

-19.55 pp from 2017

Benchmarks

See 70 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants5,000-9,999

Cohort70 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$313.48M

Not enough data

1 years with asset history on file

Average account balance

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

$38K

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.

8,185

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

$16.79M

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

+7.51%

Not enough data

1 years with return on file

Admin fee / account holder

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

$94

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 10 of 14 by compensation

Provider	Service type	Compensation
MORGAN STANLEY SMITH BARNEY9+ years Filed as: JP MORGAN ASSET MANAGEMENT Service code 28 · EIN 13-6038770 245 PARK AVE · NEW YORK, NY 10167	Investment Management	$197,510
WESTERN ASSET MANAGEMENT COMPANY5 years Service code 28 · EIN 95-2705767 100 INTERNATIONAL DRIVE · BALTIMORE, MD 21202	Investment Management	$126,688
VERUS6 years Filed as: VERUS ADVISORS, INC. Service code 17 · EIN 91-1320111 2321 ROSECRANS AVENUE · EL SEGUNDO, CA 90245	Pension Consulting	$106,000
LSV ASSET MANAGEMENT9+ years Service code 51 · EIN 23-2772200 155 N WACKER DRIVE 4600 · CHICAGO, IL 60606	Investment Mgmt Fees	$103,333
THE SEGAL COMPANY6 years Filed as: SEGAL SELECT INSURANCE Service code 53 · EIN 46-0619194 333 W 34TH ST · NEW YORK, NY 100012402	Insurance Commissions	$58,594
SOUTHWEST SERVICE ADMINISTRATORS1 year Service code 14 · EIN 86-0785790	Plan Administrator	$57,151
PGIM INVESTMENTS6 years Filed as: PGIM REAL ESTATE U.S. DEBT FUND, LP Service code 51 · EIN 82-1785551	Investment Mgmt Fees	$48,181
PANAGORA ASSET MANAGEMENT7 years Filed as: PANAGORA ASSET MANAGEMENT, INC. Service code 51 470 ATLANTIC AVE · BOSTON, MA 02210	Investment Mgmt Fees	$43,087
BMO HARRIS BANK NA2 years Filed as: BMO HARRIS BANK Service code 19 · EIN 36-2085229	Securities Custodian	$37,848
WARD KEENAN AND BARRETT, PC7 years Service code 29 · EIN 86-0274260	Legal	$35,874

Plan features & details

Pension benefit codes2A

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).

Opportunity flags

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$915K

$117 / participant

Trustee / custodial$36K3.9%
Investment mgmt$625K68.3%
Legal$84K9.1%
Actuarial$11K1.2%
Contract admin$56K6.1%
Other / not subdivided$104K11.3%

% of EOY assets

0.314%

all-in expense ratio

Categories reported

5 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BALDWIN MOFFITT BEHM LLP
Auditor EIN: 464370753
Audit fees: $32,249
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$37,403

$74,831-50.0%

$96,543-61.3%

$103,657-63.9%

Participation rate

100.0%

83.1%+16.9pp

74.3%+25.7pp

73.4%+26.6pp

Annual return

11.69%

16.15%-4.5pp

35.75%-24.1pp

33.13%-21.4pp

Employer contribution / active EE

$2,186

$3,888-43.8%

$3,741-41.6%

$3,216-32.0%

Participant deferral / active EE

$3,896-100.0%

$4,880-100.0%

$5,218-100.0%

Admin fee / account holder

$117

$130-9.7%

$6,737-98.3%

$114+2.9%

Provider

Service type

Compensation

MORGAN STANLEY SMITH BARNEY9+ years

Filed as: JP MORGAN ASSET MANAGEMENT

Service code 28 · EIN 13-6038770

245 PARK AVE · NEW YORK, NY 10167

Investment Management

$197,510

WESTERN ASSET MANAGEMENT COMPANY5 years

Service code 28 · EIN 95-2705767

100 INTERNATIONAL DRIVE · BALTIMORE, MD 21202

Investment Management

$126,688

VERUS6 years

Filed as: VERUS ADVISORS, INC.

Service code 17 · EIN 91-1320111

2321 ROSECRANS AVENUE · EL SEGUNDO, CA 90245

Pension Consulting

$106,000

LSV ASSET MANAGEMENT9+ years

Service code 51 · EIN 23-2772200

155 N WACKER DRIVE 4600 · CHICAGO, IL 60606

Investment Mgmt Fees

$103,333

THE SEGAL COMPANY6 years

Filed as: SEGAL SELECT INSURANCE

Service code 53 · EIN 46-0619194

333 W 34TH ST · NEW YORK, NY 100012402

Insurance Commissions

$58,594

SOUTHWEST SERVICE ADMINISTRATORS1 year

Service code 14 · EIN 86-0785790

Plan Administrator

$57,151

PGIM INVESTMENTS6 years

Filed as: PGIM REAL ESTATE U.S. DEBT FUND, LP

Service code 51 · EIN 82-1785551

Investment Mgmt Fees

$48,181

PANAGORA ASSET MANAGEMENT7 years

Filed as: PANAGORA ASSET MANAGEMENT, INC.

Service code 51

470 ATLANTIC AVE · BOSTON, MA 02210

Investment Mgmt Fees

$43,087

BMO HARRIS BANK NA2 years

Filed as: BMO HARRIS BANK

Service code 19 · EIN 36-2085229

Securities Custodian

$37,848

WARD KEENAN AND BARRETT, PC7 years

Service code 29 · EIN 86-0274260

Legal

$35,874

OPERATING ENGINEERS LOCAL 428 ANNUITY TRUST FUND

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

OPERATING ENGINEERS LOCAL 428 ANNUITY TRUST FUND

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