Retirement plan

PUGET SOUND ELETCTRICAL WORKERS 401(K) SAVINGS PLA

Name: BOARD OF TRUSTEES PUGET SOUND ELECTRICAL WORKERS 401(K) SAVINGS PLAN - PUGET SOUND ELETCTRICAL WORKERS 401(K) SAVINGS PLA (2018) Form 5500
Creator: BOARD OF TRUSTEES PUGET SOUND ELECTRICAL WORKERS 401(K) SAVINGS PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PUGET SOUND ELETCTRICAL WORKERS 401(K) SAVINGS PLA, BOARD OF TRUSTEES PUGET SOUND ELECTRICAL WORKERS 401(K) SAVINGS PLAN

BOARD OF TRUSTEES PUGET SOUND ELECTRICAL WORKERS 401(K) SAVINGS PLANEIN 91-6180326Plan #001PY 2018

PO BOX 34203 - SEATTLE, WA 981241203206-441-7574

Prospect flagsLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$294.1M

-12.7% from 2017

Total participants

6,870

-7.1% from 2017

Average account balance

$42,797

-6.0% from 2017

Annual return

10.94%

-14.46 pp from 2017

Benchmarks

See 51 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants5,000-9,999

Cohort51 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$622.31M

Not enough data

1 years with asset history on file

Average account balance

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

$77K

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.

8,061

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

$42.09M

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

+10.43%

Not enough data

1 years with return on file

Admin fee / account holder

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

$169

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
WELFARE & PENSION ADMIN SERVICE INC3+ years Service code 13 · EIN 91-1363171	Contract Administrator	$359,318
JOHN HANCOCK LIFE INSURANCE COMPANY3+ years Filed as: JOHN HANCOCK RETIREMENT PLAN SERV Service code 15 · EIN 01-0233346	Recordkeeping	$313,697
VERUS3+ years Filed as: VERUS ADVISORY, INC. Service code 27 · EIN 91-1320111	Advisory (Plan)	$30,000
MCKENZIE ROTHWELL BARLOW & COUGHRAN1 year Service code 29 · EIN 91-0889948	Legal	$29,800
LAW OFFICE OF RICHARD A. EKMAN, P.S2 years Filed as: LAW OFFICE OF RICHARD A EKMAN, P.S. Service code 29 · EIN 91-1321138	Legal	$22,129
LINDQUIST LLP3+ years Service code 10 · EIN 52-2385296	Accounting	$12,900
RAEL & LETSON3+ years Service code 11 · EIN 94-1701048	Actuarial	$8,063

Plan features & details

Pension benefit codes2E2F2G2J2S

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.

Opportunity flags

2 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
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

$830K

$122 / participant

Investment mgmt$38K4.6%
Contract admin$669K80.6%
Other / not subdivided$123K14.8%

% of EOY assets

0.282%

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: LINDQUIST LLP
Auditor EIN: 522385296
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$42,797

$57,255-25.3%

$83,831-48.9%

$68,904-37.9%

Participation rate

100.0%

86.2%+13.8pp

76.1%+23.9pp

74.1%+25.9pp

Annual return

10.94%

-0.34%+11.3pp

850.99%-840.0pp

1.07%+9.9pp

Employer contribution / active EE

$2,239

$3,341-33.0%

$3,631-38.4%

$2,540-11.9%

Participant deferral / active EE

$731

$3,207-77.2%

$4,082-82.1%

$4,015-81.8%

Admin fee / account holder

$121

$103+16.8%

$5,479-97.8%

$71+69.4%

Provider

Service type

Compensation

WELFARE & PENSION ADMIN SERVICE INC3+ years

Service code 13 · EIN 91-1363171

Contract Administrator

$359,318

JOHN HANCOCK LIFE INSURANCE COMPANY3+ years

Filed as: JOHN HANCOCK RETIREMENT PLAN SERV

Service code 15 · EIN 01-0233346

Recordkeeping

$313,697

VERUS3+ years

Filed as: VERUS ADVISORY, INC.

Service code 27 · EIN 91-1320111

Advisory (Plan)

$30,000

MCKENZIE ROTHWELL BARLOW & COUGHRAN1 year

Service code 29 · EIN 91-0889948

Legal

$29,800

LAW OFFICE OF RICHARD A. EKMAN, P.S2 years

Filed as: LAW OFFICE OF RICHARD A EKMAN, P.S.

Service code 29 · EIN 91-1321138

Legal

$22,129

LINDQUIST LLP3+ years

Service code 10 · EIN 52-2385296

Accounting

$12,900

RAEL & LETSON3+ years

Service code 11 · EIN 94-1701048

Actuarial

$8,063

PUGET SOUND ELETCTRICAL WORKERS 401(K) SAVINGS PLA

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PUGET SOUND ELETCTRICAL WORKERS 401(K) SAVINGS PLA

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