Retirement plan

ASSOCIATED BUILDERS AND CONTRACTORS, INC UTAH CHAPTER MEP

Name: ASSOCIATED BUILDERS AND CONTRACTORS - ASSOCIATED BUILDERS AND CONTRACTORS, INC UTAH CHAPTER MEP (2023) Form 5500
Creator: ASSOCIATED BUILDERS AND CONTRACTORS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ASSOCIATED BUILDERS AND CONTRACTORS, INC UTAH CHAPTER MEP, ASSOCIATED BUILDERS AND CONTRACTORS

ASSOCIATED BUILDERS AND CONTRACTORSEIN 87-0343604Plan #333PY 2023

660 WEST 900 NORTH, SUITE B - NORTH SALT LAKE, UT 84054801-294-5211abcutah.orgLinkedIn1-10 employeesconstruction

Prospect flagsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$14.5M

+23.6% from 2022

Total participants

606

-2.7% from 2022

Average account balance

$35,638

+40.3% from 2022

Annual return

17.56%

+59.73 pp from 2022

Benchmarks

See 1,502 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,502 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$10.26M

Not enough data

1 years with asset history on file

Average account balance

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

$53K

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.

193

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.

43.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.40M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

-27.09%

Not enough data

1 years with return on file

Admin fee / account holder

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

$798

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 4 by compensation

Provider	Service type	Compensation
TRANSAMERICA RETIREMENT SOLUTIONS2 years Filed as: TRANSAMERICA FINANCIAL LIFE INS. Service code 15 · EIN 36-6071399	Recordkeeping	$124,984
NATIONAL BENEFIT SERVICES, LLC5 years Service code 15 · EIN 20-3886993	Recordkeeping	$51,090
JONES SIMKINS LLC2 years Filed as: JONES-SIMKINS Service code 10 · EIN 46-1592906	Accounting	$10,615
MESIROW FINANCIAL INVESTMENT MANAGE5 years Filed as: MESIROW FINANCIAL, INC. Service code 27 · EIN 36-3194849	Advisory (Plan)	$2,574

Plan features & details

Pension benefit codes2E2F2G2K3D

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.
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.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: JONES SIMKINS LLC
Auditor EIN: 461592906
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$35,638

$93,010-61.7%

$96,520-63.1%

$74,440-52.1%

Participation rate

60.0%

71.6%-11.6pp

74.3%-14.4pp

70.7%-10.8pp

Annual return

17.56%

37.50%-19.9pp

35.72%-18.2pp

34.37%-16.8pp

Employer contribution / active EE

$1,060

$3,427-69.1%

$3,739-71.7%

$2,638-59.8%

Participant deferral / active EE

$2,204

$3,971-44.5%

$4,879-54.8%

$4,529-51.3%

Admin fee / account holder

$633-100.0%

$6,733-100.0%

$348-100.0%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS2 years

Filed as: TRANSAMERICA FINANCIAL LIFE INS.

Service code 15 · EIN 36-6071399

Recordkeeping

$124,984

NATIONAL BENEFIT SERVICES, LLC5 years

Service code 15 · EIN 20-3886993

Recordkeeping

$51,090

JONES SIMKINS LLC2 years

Filed as: JONES-SIMKINS

Service code 10 · EIN 46-1592906

Accounting

$10,615

MESIROW FINANCIAL INVESTMENT MANAGE5 years

Filed as: MESIROW FINANCIAL, INC.

Service code 27 · EIN 36-3194849

Advisory (Plan)

$2,574

ASSOCIATED BUILDERS AND CONTRACTORS, INC UTAH CHAPTER MEP

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

ASSOCIATED BUILDERS AND CONTRACTORS, INC UTAH CHAPTER MEP

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion