Retirement plan

SACRAMENTO AREA ELECTRICAL WORKERS PENSION AND PROFIT SHARING PLAN

Name: BOARD OF TRUSTEES, SACRAMENTO AREA ELECTRICAL WORKERS - SACRAMENTO AREA ELECTRICAL WORKERS PENSION AND PROFIT SHARING PLAN (2023) Form 5500
Creator: BOARD OF TRUSTEES, SACRAMENTO AREA ELECTRICAL WORKERS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SACRAMENTO AREA ELECTRICAL WORKERS PENSION AND PROFIT SHARING PLAN, BOARD OF TRUSTEES, SACRAMENTO AREA ELECTRICAL WORKERS

BOARD OF TRUSTEES, SACRAMENTO AREA ELECTRICAL WORKERSdba PENSION AND PROFIT SHARING PLANEIN 94-2773478Plan #001PY 2023

1141 HARBOR BAY PKWY STE 100 - ALAMEDA, CA 94502510-433-4422

Prospect flagsHigh feesRecently reached 100 employees

How to read this page

Total assets (EOY)

$296.2M

-7.9% from 2016

Total participants

2,534

-3.8% from 2016

Average account balance

$116,903

No prior year

Annual return

15.18%

-8.15 pp from 2016

Benchmarks

See 531 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort531 peers

Snapshot2023

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Analytics

Total assets (EOY)

Plan-year ending balance

$326.82M

Not enough data

1 years with asset history on file

Average account balance

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

$120K

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.

2,733

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

$21.99M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$17K

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

+9.20%

Not enough data

1 years with return on file

Admin fee / account holder

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

$766

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 11 by compensation

Provider	Service type	Compensation
MORGAN STANLEY SMITH BARNEY9+ years Service code 28 · EIN 26-4310632	Investment Management	$298,244
INDEPENDENT FINANCIAL PARTNERS9+ years Filed as: SIERRA INVESTMENT PARTNERS, INC Service code 28 101 YGNACIO VALLEY RD STE 300 · WALNUT CREEK, CA 94596	Investment Management	$220,785
NWPS2 years Service code 15 · EIN 91-2090931	Recordkeeping	$151,116
GARCIA HAMILTON & ASSOCIATES9+ years Filed as: GARCIA HAMILTON & ASSOCIATES L.P. Service code 28 · EIN 76-0589652	Investment Management	$141,317
ZENITH AMERICAN SOLUTIONS1 year Service code 13 1141 HARBOR BAY PKWY STE 100 · ALAMEDA, CA 94502	Contract Administrator	$137,192
ASB CAPITAL MANAGEMENT9+ years Service code 28 · EIN 80-0618452	Investment Management	$128,770
MATRIX TRUST COMPANY8 years Service code 19 · EIN 75-3182674	Securities Custodian	$56,117
NEYHART, ANDERSON, FLYNN & GROSBOLL9+ years Filed as: NEYHART ANDERSON FLYNN & GROSBOLL Service code 29 · EIN 94-2562134	Legal	$53,204
IBEW-NECA SERVICE CENTER1 year Filed as: IBEW LOCAL 340 Service code 49 10240 SYSYTEMS PKWY · SACRAMENTO, CA 95827	Other Services	$31,835
MILLER KAPLAN ARASE LLP9+ years Service code 10 · EIN 95-2036255	Accounting	$29,321

Reportable transactions (Schedule G)

1 row

Counterparties on defaulted loans (Part 1), defaulted leases (Part 2), and non-exempt prohibited transactions (Part 3). Presence of any row warrants fiduciary review.

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Plan features & details

Pension benefit codes2C2E

Plan features

2C
Money purchase plan
Money purchase pension plan other than a target benefit plan.
2E
Profit-sharing
Profit-sharing 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.)
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$1.8M

$1559 / participant

Recordkeeping$191K10.7%
Investment mgmt$1M68.8%
Legal$53K3.0%
Other trustee fees$13K0.7%
Contract admin$150K8.4%
Other / not subdivided$149K8.4%

% of EOY assets

0.600%

all-in expense ratio

Categories reported

5 / 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: $29,321
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$116,903

$88,479+32.1%

$96,543+21.1%

$80,187+45.8%

Participation rate

100.0%

79.9%+20.1pp

74.3%+25.7pp

72.9%+27.1pp

Annual return

15.18%

22.53%-7.4pp

35.75%-20.6pp

40.40%-25.2pp

Employer contribution / active EE

$16,576

$4,177+296.8%

$3,741+343.1%

$2,980+456.3%

Participant deferral / active EE

$3,961-100.0%

$4,880-100.0%

$5,016-100.0%

Admin fee / account holder

$701

$211+231.6%

$6,737-89.6%

$145+383.6%

Provider

Service type

Compensation

MORGAN STANLEY SMITH BARNEY9+ years

Service code 28 · EIN 26-4310632

Investment Management

$298,244

INDEPENDENT FINANCIAL PARTNERS9+ years

Filed as: SIERRA INVESTMENT PARTNERS, INC

Service code 28

101 YGNACIO VALLEY RD STE 300 · WALNUT CREEK, CA 94596

Investment Management

$220,785

NWPS2 years

Service code 15 · EIN 91-2090931

Recordkeeping

$151,116

GARCIA HAMILTON & ASSOCIATES9+ years

Filed as: GARCIA HAMILTON & ASSOCIATES L.P.

Service code 28 · EIN 76-0589652

Investment Management

$141,317

ZENITH AMERICAN SOLUTIONS1 year

Service code 13

1141 HARBOR BAY PKWY STE 100 · ALAMEDA, CA 94502

Contract Administrator

$137,192

ASB CAPITAL MANAGEMENT9+ years

Service code 28 · EIN 80-0618452

Investment Management

$128,770

MATRIX TRUST COMPANY8 years

Service code 19 · EIN 75-3182674

Securities Custodian

$56,117

NEYHART, ANDERSON, FLYNN & GROSBOLL9+ years

Filed as: NEYHART ANDERSON FLYNN & GROSBOLL

Service code 29 · EIN 94-2562134

Legal

$53,204

IBEW-NECA SERVICE CENTER1 year

Filed as: IBEW LOCAL 340

Service code 49

10240 SYSYTEMS PKWY · SACRAMENTO, CA 95827

Other Services

$31,835

MILLER KAPLAN ARASE LLP9+ years

Service code 10 · EIN 95-2036255

Accounting

$29,321

SACRAMENTO AREA ELECTRICAL WORKERS PENSION AND PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Reportable transactions (Schedule G)

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SACRAMENTO AREA ELECTRICAL WORKERS PENSION AND PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Reportable transactions (Schedule G)

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