Retirement plan

U. A. LOCAL 38 DEFINED CONTRIBUTION PENSION PLAN

Name: BOARD OF TRUSTEES OF U.A. LOCAL 38 TRUST FUNDS - U. A. LOCAL 38 DEFINED CONTRIBUTION 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 CONTRIBUTION PENSION PLAN, BOARD OF TRUSTEES OF U.A. LOCAL 38 TRUST FUNDS

BOARD OF TRUSTEES OF U.A. LOCAL 38 TRUST FUNDSEIN 94-1285319Plan #002PY 2024

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

Other plans on this EIN

1 filing

#001Retirement-$512.0M assets

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$198.5M

-13.4% from 2017

Total participants

2,282

-0.5% from 2017

Average account balance

$91,596

-12.9% from 2017

Annual return

8.27%

-11.14 pp from 2017

Benchmarks

See 560 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort560 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$210.64M

Not enough data

1 years with asset history on file

Average account balance

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

$99K

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.

2,135

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.

92.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$12.08M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+7.09%

Not enough data

1 years with return on file

Admin fee / account holder

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

$758

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 21 by compensation

Provider	Service type	Compensation
MORGAN STANLEY SMITH BARNEY9+ years Filed as: MORGAN STANLEY SMITH BARNEY, LLC Service code 19 · EIN 11-3658445	Securities Custodian	$452,487
LOOMIS SAYLES1 year Filed as: LOOMIS, SAYLES & COMPANY, L.P. Service code 28 · EIN 04-3200030	Investment Management	$155,475
RAEL & LETSON3 years Service code 17 · EIN 94-1701048	Pension Consulting	$124,819
ENERGY INCOME PARTNERS9+ years Service code 28 49 RIVERSIDE AVE · WESTPORT, CT 06880	Investment Management	$71,791
RIVERBRIDGE PARTNERS9+ years Filed as: RIVERBRIDGE PARTNERS LLC Service code 28 · EIN 41-1930193	Investment Management	$61,221
MORGAN STANLEY SMITH BARNEY8 years Filed as: JP MORGAN Service code 28 270 PARK AVE · NEW YORK CITY, NY 11001	Investment Management	$60,077
WITHUMSMITH+BROWN, PC3 years Service code 10 · EIN 22-2027092	Accounting	$52,687
SILVERCREST ASSET MANAGEMENT GROUP8 years Filed as: SILVERCREST Service code 28 1330 POST OAK BLVD · HOUSTON, TX 77056	Investment Management	$50,192
LAW FIRM OF JAMES P. BAKER4 years Service code 29 · EIN 87-3996649	Legal	$47,488
COPELAND CAPITAL MANAGEMENT, LLC2 years Filed as: COPELAND Service code 28 161 WASHINGTON STREET · CONSHOHOCKEN, PA 19428	Investment Management	$33,960

Plan features & details

Pension benefit codes2C

Plan features

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

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$1.6M

$1159 / participant

Recordkeeping$20K1.3%
Investment mgmt$1M66.4%
Legal$43K2.7%
Salaries / allowances$160K10.3%
Other trustee fees$8K0.5%
Contract admin$24K1.5%
Other / not subdivided$268K17.3%

% of EOY assets

0.783%

all-in expense ratio

Categories reported

6 / 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: $38,321
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$91,596

$241,850-62.1%

$102,437-10.6%

$200,096-54.2%

Participation rate

91.4%

78.3%+13.1pp

74.5%+16.9pp

72.0%+19.4pp

Annual return

8.27%

17.67%-9.4pp

24.95%-16.7pp

34.26%-26.0pp

Employer contribution / active EE

$8,780

$4,253+106.5%

$3,871+126.8%

$3,038+189.1%

Participant deferral / active EE

$3,961-100.0%

$5,060-100.0%

$5,090-100.0%

Admin fee / account holder

$717

$288+149.0%

$8,388-91.4%

$269+166.3%

Provider

Service type

Compensation

MORGAN STANLEY SMITH BARNEY9+ years

Filed as: MORGAN STANLEY SMITH BARNEY, LLC

Service code 19 · EIN 11-3658445

Securities Custodian

$452,487

LOOMIS SAYLES1 year

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

Service code 28 · EIN 04-3200030

Investment Management

$155,475

RAEL & LETSON3 years

Service code 17 · EIN 94-1701048

Pension Consulting

$124,819

ENERGY INCOME PARTNERS9+ years

Service code 28

49 RIVERSIDE AVE · WESTPORT, CT 06880

Investment Management

$71,791

RIVERBRIDGE PARTNERS9+ years

Filed as: RIVERBRIDGE PARTNERS LLC

Service code 28 · EIN 41-1930193

Investment Management

$61,221

MORGAN STANLEY SMITH BARNEY8 years

Filed as: JP MORGAN

Service code 28

270 PARK AVE · NEW YORK CITY, NY 11001

Investment Management

$60,077

WITHUMSMITH+BROWN, PC3 years

Service code 10 · EIN 22-2027092

Accounting

$52,687

SILVERCREST ASSET MANAGEMENT GROUP8 years

Filed as: SILVERCREST

Service code 28

1330 POST OAK BLVD · HOUSTON, TX 77056

Investment Management

$50,192

LAW FIRM OF JAMES P. BAKER4 years

Service code 29 · EIN 87-3996649

Legal

$47,488

COPELAND CAPITAL MANAGEMENT, LLC2 years

Filed as: COPELAND

Service code 28

161 WASHINGTON STREET · CONSHOHOCKEN, PA 19428

Investment Management

$33,960

U. A. LOCAL 38 DEFINED CONTRIBUTION PENSION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

U. A. LOCAL 38 DEFINED CONTRIBUTION 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