Retirement plan

U. A. LOCAL 38 DEFINED BENEFIT PENSION PLAN

Name: BOARD OF TRUSTEES OF U.A. LOCAL 38 TRUST FUNDS - U. A. LOCAL 38 DEFINED BENEFIT PENSION PLAN (2024) Form 5500
Creator: BOARD OF TRUSTEES OF U.A. LOCAL 38 TRUST FUNDS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, U. A. LOCAL 38 DEFINED BENEFIT PENSION PLAN, BOARD OF TRUSTEES OF U.A. LOCAL 38 TRUST FUNDS

BOARD OF TRUSTEES OF U.A. LOCAL 38 TRUST FUNDSEIN 94-1285319Plan #001PY 2024

1621 MARKET STREET SUITE 400 - SAN FRANCISCO, CA 941031217415-626-2000

Other plans on this EIN

1 filing

#002Retirement-$198.5M assets

Prospect flagsHigh retiree %Low participant contribution

How to read this page

Total assets (EOY)

$512M

-16.9% from 2017

Total participants

2,799

-1.6% from 2017

Average account balance

No prior year

Annual return

9.06%

-11.81 pp from 2017

Benchmarks

See 155 peers

Peer group

Industry23 - Construction

Plan typeDefined benefit

Participants1,000-4,999

Cohort155 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$554.97M

Not enough data

1 years with asset history on file

Average account balance

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

$197K

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.

1,435

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.

0.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$36.52M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$26K

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

+7.41%

Not enough data

1 years with return on file

Admin fee / account holder

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

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

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Service providers

Top 10 of 36 by compensation

Provider	Service type	Compensation
MORGAN STANLEY SMITH BARNEY1 year Filed as: MORGAN STANLEY SMITH BARNEY, LLC Service code 19 · EIN 11-3658445	Securities Custodian	$856,306
LOOMIS SAYLES1 year Filed as: LOOMIS SAYLES & COMPANY, L.P. Service code 28 · EIN 04-3200030	Investment Management	$289,185
RAEL & LETSON9+ years Service code 11 · EIN 94-1701048	Actuarial	$206,138
LAW FIRM OF JAMES P. BAKER4 years Service code 29 · EIN 87-3996649	Legal	$190,660
MORGAN STANLEY SMITH BARNEY8 years Filed as: JP MORGAN Service code 28 270 PARK AVE · NEW YORK, NY 11001	Investment Management	$132,108
WITHUMSMITH+BROWN, PC3 years Service code 10 · EIN 22-2027092	Accounting	$128,304
ENERGY INCOME PARTNERS9+ years Service code 28 49 RIVERSIDE AVE · WESTPORT, CT 06880	Investment Management	$122,871
RIDGEWORTH9+ years Filed as: GENEVA CAPITAL Service code 28 · EIN 06-1217855	Investment Management	$108,821
MARIA DANYLUK6 years Filed as: MARIA RIVERA Service code 30 1621 MARKET STREET SUITE 400 · SAN FRANCISCO, CA 94103	Direct payment from the plan; Employe...	$100,915
SIT INVESTMENT ASSOCIATES1 year Filed as: SIT INVESTMENTS FI Service code 28 80 S 8TH ST · MINNEAPOLIS, MN 55402	Investment Management	$91,866

Enrolled actuary

1 attachment

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

Plan features & details

Pension benefit codes1B

Plan features

1B
Benefits are primarily flat dollar
Benefits are primarily a flat dollar amount (including a dollar amount per year of service).

Opportunity flags

2 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

Expense breakdown

Schedule H Part II

Admin total

$3.9M

$2730 / participant

Recordkeeping$60K1.5%
Investment mgmt$2M58.3%
Legal$195K5.0%
Actuarial$206K5.3%
Valuation$30K0.8%
Salaries / allowances$481K12.4%
Other trustee fees$99K2.6%
Contract admin$72K1.9%
Other / not subdivided$472K12.2%

% of EOY assets

0.757%

all-in expense ratio

Categories reported

8 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: WITHUMSMITH+BROWN,PC
Auditor EIN: 222027092
Audit fees: $73,656
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$201,416-100.0%

Participation rate

0.0%

0.0%0pp

32.7%-32.7pp

0.0%0pp

Annual return

9.06%

10.33%-1.3pp

8.10%+1.0pp

9.30%-0.2pp

Employer contribution / active EE

$26,523

$14,972+77.1%

$28,649-7.4%

$12,551+111.3%

Participant deferral / active EE

$504

$252+100.0%

$10+5020.5%

$2,867-82.4%

Admin fee / account holder

$60,136-100.0%

Provider

Service type

Compensation

MORGAN STANLEY SMITH BARNEY1 year

Filed as: MORGAN STANLEY SMITH BARNEY, LLC

Service code 19 · EIN 11-3658445

Securities Custodian

$856,306

LOOMIS SAYLES1 year

Filed as: LOOMIS SAYLES & COMPANY, L.P.

Service code 28 · EIN 04-3200030

Investment Management

$289,185

RAEL & LETSON9+ years

Service code 11 · EIN 94-1701048

Actuarial

$206,138

LAW FIRM OF JAMES P. BAKER4 years

Service code 29 · EIN 87-3996649

Legal

$190,660

MORGAN STANLEY SMITH BARNEY8 years

Filed as: JP MORGAN

Service code 28

270 PARK AVE · NEW YORK, NY 11001

Investment Management

$132,108

WITHUMSMITH+BROWN, PC3 years

Service code 10 · EIN 22-2027092

Accounting

$128,304

ENERGY INCOME PARTNERS9+ years

Service code 28

49 RIVERSIDE AVE · WESTPORT, CT 06880

Investment Management

$122,871

RIDGEWORTH9+ years

Filed as: GENEVA CAPITAL

Service code 28 · EIN 06-1217855

Investment Management

$108,821

MARIA DANYLUK6 years

Filed as: MARIA RIVERA

Service code 30

1621 MARKET STREET SUITE 400 · SAN FRANCISCO, CA 94103

Direct payment from the plan; Employe...

$100,915

SIT INVESTMENT ASSOCIATES1 year

Filed as: SIT INVESTMENTS FI

Service code 28

80 S 8TH ST · MINNEAPOLIS, MN 55402

Investment Management

$91,866

U. A. LOCAL 38 DEFINED BENEFIT PENSION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Enrolled actuary

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

U. A. LOCAL 38 DEFINED BENEFIT PENSION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Enrolled actuary

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