Retirement plan

U. A. LOCAL NO. 393 DEFINED CONTRIBUTION PLAN

Name: BOARD OF TRUSTEES OF THE U.A. LOCAL NO. 393 DEFINED CONTRIBUTION PLAN - U. A. LOCAL NO. 393 DEFINED CONTRIBUTION PLAN (2023) Form 5500
Creator: BOARD OF TRUSTEES OF THE U.A. LOCAL NO. 393 DEFINED CONTRIBUTION PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, U. A. LOCAL NO. 393 DEFINED CONTRIBUTION PLAN, BOARD OF TRUSTEES OF THE U.A. LOCAL NO. 393 DEFINED CONTRIBUTION PLAN

BOARD OF TRUSTEES OF THE U.A. LOCAL NO. 393 DEFINED CONTRIBUTION PLANEIN 94-6075617Plan #003PY 2023

6293 SAN IGNACIO AVENUE - SAN JOSE, CA 95119408-588-3770

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$696.1M

-5.0% from 2016

Total participants

3,373

-3.1% from 2016

Average account balance

$206,389

No prior year

Annual return

14.95%

-3.58 pp from 2016

Benchmarks

See 531 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort531 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$772.04M

Not enough data

1 years with asset history on file

Average account balance

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

$231K

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.

3,349

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

$41.52M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$20K

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

+11.48%

Not enough data

1 years with return on file

Admin fee / account holder

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

$945

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 15 by compensation

Provider	Service type	Compensation
NUVEEN9+ years Filed as: NWQ INVESTMENTS Service code 28 · EIN 47-0875103	Investment Management	$852,855
POLEN CAPITAL2 years Filed as: POLEN CAPITAL MANAGEMENT LLC Service code 28 · EIN 26-0319356	Investment Management	$535,828
COLUMBIA1 year Filed as: COLUMBIA MANAGEMENT Service code 28 · EIN 41-1533211	Investment Management	$358,831
RAYMOND JAMES FINANCIAL SERVICES1 year Filed as: RAYMOND JAMES & ASSOCIATES INC Service code 28 880 CARILLON PARKWAY · ST PETERSBURG, FL 33716	Investment Management	$272,999
BENESYS, INC.9+ years Filed as: BENESYS ADMINISTRATORS Service code 13 · EIN 38-2383171	Contract Administrator	$216,649
NORTHWEST PLAN SERVICES, INC.2 years Filed as: NORTHWEST PLAN SERVICES Service code 15 · EIN 91-2090931	Recordkeeping	$158,502
MATRIX TRUST COMPANY1 year Filed as: BROADRIDGE MATRIX TRUST CO Service code 19 · EIN 75-3182674	Securities Custodian	$95,560
KRAW LAW GROUP9+ years Service code 29 · EIN 77-0171216	Legal	$94,441
SUZANNE NEEDHAM3 years Service code 30 6293 SAN IGNACIO AVENUE · SAN JOSE, CA 95119	Direct payment from the plan; Employe...	$51,046
WITHUMSMITH+BROWN, PC1 year Service code 10 · EIN 22-2027092	Accounting	$48,880

Plan features & details

Pension benefit codes2E2J2S2T

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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

$2.8M

$1314 / participant

Investment mgmt$2M75.2%
Legal$103K3.6%
Other trustee fees$52K1.8%
Contract admin$217K7.7%
Other / not subdivided$327K11.6%

% of EOY assets

0.405%

all-in expense ratio

Categories reported

4 / 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: $57,833
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$206,389

$88,479+133.3%

$96,543+113.8%

$80,187+157.4%

Participation rate

100.0%

79.9%+20.1pp

74.3%+25.7pp

72.9%+27.1pp

Annual return

14.95%

22.53%-7.6pp

35.75%-20.8pp

40.40%-25.5pp

Employer contribution / active EE

$13,362

$4,177+219.9%

$3,741+257.2%

$2,980+348.5%

Participant deferral / active EE

$5,614

$3,961+41.8%

$4,880+15.0%

$5,016+11.9%

Admin fee / account holder

$836

$211+295.1%

$6,737-87.6%

$145+476.2%

Provider

Service type

Compensation

NUVEEN9+ years

Filed as: NWQ INVESTMENTS

Service code 28 · EIN 47-0875103

Investment Management

$852,855

POLEN CAPITAL2 years

Filed as: POLEN CAPITAL MANAGEMENT LLC

Service code 28 · EIN 26-0319356

Investment Management

$535,828

COLUMBIA1 year

Filed as: COLUMBIA MANAGEMENT

Service code 28 · EIN 41-1533211

Investment Management

$358,831

RAYMOND JAMES FINANCIAL SERVICES1 year

Filed as: RAYMOND JAMES & ASSOCIATES INC

Service code 28

880 CARILLON PARKWAY · ST PETERSBURG, FL 33716

Investment Management

$272,999

BENESYS, INC.9+ years

Filed as: BENESYS ADMINISTRATORS

Service code 13 · EIN 38-2383171

Contract Administrator

$216,649

NORTHWEST PLAN SERVICES, INC.2 years

Filed as: NORTHWEST PLAN SERVICES

Service code 15 · EIN 91-2090931

Recordkeeping

$158,502

MATRIX TRUST COMPANY1 year

Filed as: BROADRIDGE MATRIX TRUST CO

Service code 19 · EIN 75-3182674

Securities Custodian

$95,560

KRAW LAW GROUP9+ years

Service code 29 · EIN 77-0171216

Legal

$94,441

SUZANNE NEEDHAM3 years

Service code 30

6293 SAN IGNACIO AVENUE · SAN JOSE, CA 95119

Direct payment from the plan; Employe...

$51,046

WITHUMSMITH+BROWN, PC1 year

Service code 10 · EIN 22-2027092

Accounting

$48,880

U. A. LOCAL NO. 393 DEFINED CONTRIBUTION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

U. A. LOCAL NO. 393 DEFINED CONTRIBUTION 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