Retirement plan

CALIFORNIA MACHINISTS 401K PLAN

Name: BOARD OF TRUSTEES OF CALIFORNIA MACHINISTS 401K PLAN - CALIFORNIA MACHINISTS 401K PLAN (2023) Form 5500
Creator: BOARD OF TRUSTEES OF CALIFORNIA MACHINISTS 401K PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CALIFORNIA MACHINISTS 401K PLAN, BOARD OF TRUSTEES OF CALIFORNIA MACHINISTS 401K PLAN

BOARD OF TRUSTEES OF CALIFORNIA MACHINISTS 401K PLANEIN 94-3250849Plan #001PY 2023

160 WEST SANTA CLARA STREET, SUITE 1550 - SAN JOSE, CA 951131734408-298-1170

Prospect flagsLow returnsFailed to transmit contributions

How to read this page

Total assets (EOY)

$116.3M

+17.1% from 2022

Total participants

3,062

+3.0% from 2022

Average account balance

$37,991

+13.7% from 2022

Annual return

13.64%

+32.08 pp from 2022

Benchmarks

See 268 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants1,000-4,999

Cohort268 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$147.57M

Not enough data

1 years with asset history on file

Average account balance

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

$67K

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.

2,200

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

$9.80M

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

+26.20%

Not enough data

1 years with return on file

Admin fee / account holder

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

$200

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 6 by compensation

Provider	Service type	Compensation
WITHUMSMITH+BROWN, PC2 years Service code 10 · EIN 22-2027092	Accounting	$161,895
NWPS3 years Service code 15 · EIN 94-2614826	Recordkeeping	$154,828
MORGAN STANLEY SMITH BARNEY7 years Filed as: MORGAN STANLEY Service code 26 1999 HARRISON STREET, SUITE 2200 · OAKLAND, CA 94612	Advisory (Participants)	$102,103
MATRIX TRUST COMPANY8+ years Service code 25 · EIN 75-3182674	Directed Trustee	$48,115
WEINBERG, ROGER & ROSENFELD8+ years Service code 29 · EIN 94-2458080	Legal	$18,924
DST ASSET MANAGER SOLUTIONS, INC.1 year Filed as: SS&C RETIREMENT SOLUTIONS Service code 38 · EIN 26-3216393	Participant Communication	$7,587

Plan features & details

Pension benefit codes2E2G2J

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.

Opportunity flags

2 tripped

OpportunityLow returns
Annual investment return 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

$432K

$322 / participant

Investment mgmt$48K11.1%
Contract admin$133K30.8%
Other / not subdivided$251K58.0%

% of EOY assets

0.371%

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: WITHUMSMITH+BROWN, PC
Auditor EIN: 222027092
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$37,991

$70,115-45.8%

$70,544-46.1%

$80,157-52.6%

Participation rate

100.0%

71.7%+28.3pp

68.4%+31.6pp

72.9%+27.1pp

Annual return

13.64%

134.51%-120.9pp

32.79%-19.2pp

40.39%-26.7pp

Employer contribution / active EE

$2,840

$3,021-6.0%

$2,976-4.6%

$2,977-4.6%

Participant deferral / active EE

$3,385

$4,495-24.7%

$4,568-25.9%

$5,015-32.5%

Admin fee / account holder

$141

$112+25.7%

$6,427-97.8%

$145-2.7%

Provider

Service type

Compensation

WITHUMSMITH+BROWN, PC2 years

Service code 10 · EIN 22-2027092

Accounting

$161,895

NWPS3 years

Service code 15 · EIN 94-2614826

Recordkeeping

$154,828

MORGAN STANLEY SMITH BARNEY7 years

Filed as: MORGAN STANLEY

Service code 26

1999 HARRISON STREET, SUITE 2200 · OAKLAND, CA 94612

Advisory (Participants)

$102,103

MATRIX TRUST COMPANY8+ years

Service code 25 · EIN 75-3182674

Directed Trustee

$48,115

WEINBERG, ROGER & ROSENFELD8+ years

Service code 29 · EIN 94-2458080

Legal

$18,924

DST ASSET MANAGER SOLUTIONS, INC.1 year

Filed as: SS&C RETIREMENT SOLUTIONS

Service code 38 · EIN 26-3216393

Participant Communication

$7,587

CALIFORNIA MACHINISTS 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CALIFORNIA MACHINISTS 401K 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