Retirement plan

CARPENTERS OF WESTERN WASHINGTON INDIVIDUAL ACCOUNT PENSION PLAN

Name: BOARD OF TRUSTEES, CARPENTERS OF WESTERN WASHINGTON - CARPENTERS OF WESTERN WASHINGTON INDIVIDUAL ACCOUNT PENSION PLAN (2021) Form 5500
Creator: BOARD OF TRUSTEES, CARPENTERS OF WESTERN WASHINGTON
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CARPENTERS OF WESTERN WASHINGTON INDIVIDUAL ACCOUNT PENSION PLAN, BOARD OF TRUSTEES, CARPENTERS OF WESTERN WASHINGTON

BOARD OF TRUSTEES, CARPENTERS OF WESTERN WASHINGTONdba INDIVIDUAL ACCOUNT PENSION PLANEIN 91-1160641Plan #002PY 2021

2200 SIXTH AVE STE 300 - SEATTLE, WA 98121206-441-6514

Prospect flagsLow participationLow assets / participantLow employer contributionLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$669.6M

-4.0% from 2016

Total participants

34,236

-5.5% from 2016

Average account balance

$28,202

-100.0% from 2016

Annual return

19.61%

-3.34 pp from 2016

Benchmarks

See 82 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants>=10,000

Cohort82 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$707.77M

Not enough data

1 years with asset history on file

Average account balance

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

$33K

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.

21,140

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.

96.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$19.96M

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

+10.88%

Not enough data

1 years with return on file

Admin fee / account holder

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

$135

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 12 by compensation

Provider	Service type	Compensation
MILLIMAN, INC.1 year Filed as: MILLIMAN Service code 15 · EIN 91-0675641	Recordkeeping	$676,789
RAEL & LETSON7+ years Service code 11 · EIN 94-1701048	Actuarial	$86,585
ALAN BILLER & ASSOCIATES1 year Filed as: ALAN D BILLER ASSOC Service code 27 · EIN 94-2854953	Advisory (Plan)	$83,197
BARLOW COUGHRAN MORALES & JOSEPHSON1 year Service code 29 · EIN 91-0889948	Legal	$64,109
CARPENTERS HEALTH & SECURITY WWA7+ years Service code 14 · EIN 91-6029049	Plan Administrator	$58,500
MILLER KAPLAN ARASE LLP7+ years Service code 10 · EIN 95-2036255	Accounting	$45,950
THE WAGNER LAW GROUP1 year Filed as: WAGNER LAW GROUP Service code 29 · EIN 04-3323315	Legal	$44,556
EPIC RETIREMENT PLAN SERVICES5 years Filed as: CARPENTERS RETIREMENT PLAN OF WWA Service code 14 · EIN 91-6029051	Plan Administrator	$31,500
WILLIAM C. EARHART CO., INC.1 year Filed as: WILLIAM C EARHART Service code 49 · EIN 93-0509592	Other Services	$26,510
MMA SECURITIES LLC1 year Filed as: MARSH & MCLENNAN AGENCY, LLC Service code 22 · EIN 36-1436000	Insurance Broker	$26,018

Plan features & details

Pension benefit codes2C2J

Plan features

2C
Money purchase plan
Money purchase pension plan other than a target benefit plan.
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.

Opportunity flags

5 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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

$1.5M

$57 / participant

Investment mgmt$458K30.1%
Contract admin$601K39.5%
Other / not subdivided$461K30.3%

% of EOY assets

0.227%

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: MILLER KAPLAN ARASE LLP
Auditor EIN: 952036255
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$28,202

$143,889-80.4%

$189,534-85.1%

$106,520-73.5%

Participation rate

60.5%

89.1%-28.6pp

87.8%-27.3pp

71.3%-10.8pp

Annual return

19.61%

17.38%+2.2pp

555.39%-535.8pp

19.28%+0.3pp

Employer contribution / active EE

$668

$4,416-84.9%

$6,162-89.2%

$2,840-76.5%

Participant deferral / active EE

$733

$7,575-90.3%

$8,220-91.1%

$4,948-85.2%

Admin fee / account holder

$64

$98-34.8%

$12,049-99.5%

$75-14.1%

Provider

Service type

Compensation

MILLIMAN, INC.1 year

Filed as: MILLIMAN

Service code 15 · EIN 91-0675641

Recordkeeping

$676,789

RAEL & LETSON7+ years

Service code 11 · EIN 94-1701048

Actuarial

$86,585

ALAN BILLER & ASSOCIATES1 year

Filed as: ALAN D BILLER ASSOC

Service code 27 · EIN 94-2854953

Advisory (Plan)

$83,197

BARLOW COUGHRAN MORALES & JOSEPHSON1 year

Service code 29 · EIN 91-0889948

Legal

$64,109

CARPENTERS HEALTH & SECURITY WWA7+ years

Service code 14 · EIN 91-6029049

Plan Administrator

$58,500

MILLER KAPLAN ARASE LLP7+ years

Service code 10 · EIN 95-2036255

Accounting

$45,950

THE WAGNER LAW GROUP1 year

Filed as: WAGNER LAW GROUP

Service code 29 · EIN 04-3323315

Legal

$44,556

EPIC RETIREMENT PLAN SERVICES5 years

Filed as: CARPENTERS RETIREMENT PLAN OF WWA

Service code 14 · EIN 91-6029051

Plan Administrator

$31,500

WILLIAM C. EARHART CO., INC.1 year

Filed as: WILLIAM C EARHART

Service code 49 · EIN 93-0509592

Other Services

$26,510

MMA SECURITIES LLC1 year

Filed as: MARSH & MCLENNAN AGENCY, LLC

Service code 22 · EIN 36-1436000

Insurance Broker

$26,018

CARPENTERS OF WESTERN WASHINGTON INDIVIDUAL ACCOUNT PENSION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CARPENTERS OF WESTERN WASHINGTON INDIVIDUAL ACCOUNT PENSION PLAN

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