Retirement plan

SOLANO/NAPA COUNTIES ELECTRICAL WORKERS PROFIT SHARING PLAN

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

BOARD OF TRUSTEES OF SOLANO/NAPA COUNTIES ELECTRICAL WORKERS PROFITEIN 94-6220673Plan #002PY 2023

7180 KOLL CENTER PARKWAY, SUITE 200 - PLEASANTON, CA 945663184925-208-9999

Other plans on this EIN

1 filing

#001Retirement-$147.3M assets

Prospect flagsLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$45.7M

+12.9% from 2022

Total participants

790

+3.0% from 2022

Average account balance

$57,910

+9.6% from 2022

Annual return

14.43%

+28.63 pp from 2022

Benchmarks

See 1,502 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,502 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$50.92M

Not enough data

1 years with asset history on file

Average account balance

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

$62K

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.

824

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

$2.88M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+10.30%

Not enough data

1 years with return on file

Admin fee / account holder

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

$293

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
BENESYS, INC.1 year Service code 13 · EIN 38-2383171	Contract Administrator	$65,490
WITHUMSMITH+BROWN, PC1 year Filed as: WITHUMSMITH+BROWN, P.C. Service code 10 · EIN 22-2027092	Accounting	$31,542
VERUS1 year Filed as: VERUS ADVISORY, INC. Service code 27 · EIN 91-1320111	Advisory (Plan)	$19,583
NEYHART, ANDERSON, FLYNN & GROSBOLL9+ years Service code 29 · EIN 94-2576729	Legal	$17,680
SMART SOURCE LLC1 year Service code 36 · EIN 30-0830429	Direct payment from the plan; Copying...	$5,630
US BANK1 year Service code 49 · EIN 31-0841368	Other Services	$5,333

Plan features & details

Pension benefit codes2C2E2F2H2J2T

Plan features

2C
Money purchase plan
Money purchase pension plan other than a target benefit plan.
2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
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

OpportunityLow participant contribution
Participant contribution per participant 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

$236K

$473 / participant

Recordkeeping$90K38.2%
Trustee / custodial$7K2.8%
Investment mgmt$20K8.3%
Legal$18K7.5%
Actuarial$1K0.6%
Other trustee fees$12K5.2%
Contract admin$64K27.3%
Other / not subdivided$24K10.1%

% of EOY assets

0.515%

all-in expense ratio

Categories reported

7 / 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: $9,440
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$57,910

$93,010-37.7%

$96,515-40.0%

$74,460-22.2%

Participation rate

100.0%

71.6%+28.4pp

74.3%+25.7pp

70.7%+29.3pp

Annual return

14.43%

37.50%-23.1pp

35.73%-21.3pp

34.38%-19.9pp

Employer contribution / active EE

$4,498

$3,427+31.2%

$3,740+20.3%

$2,638+70.5%

Participant deferral / active EE

$1,102

$3,971-72.2%

$4,880-77.4%

$4,530-75.7%

Admin fee / account holder

$298

$633-52.9%

$6,735-95.6%

$348-14.2%

Provider

Service type

Compensation

BENESYS, INC.1 year

Service code 13 · EIN 38-2383171

Contract Administrator

$65,490

WITHUMSMITH+BROWN, PC1 year

Filed as: WITHUMSMITH+BROWN, P.C.

Service code 10 · EIN 22-2027092

Accounting

$31,542

VERUS1 year

Filed as: VERUS ADVISORY, INC.

Service code 27 · EIN 91-1320111

Advisory (Plan)

$19,583

NEYHART, ANDERSON, FLYNN & GROSBOLL9+ years

Service code 29 · EIN 94-2576729

Legal

$17,680

SMART SOURCE LLC1 year

Service code 36 · EIN 30-0830429

Direct payment from the plan; Copying...

$5,630

US BANK1 year

Service code 49 · EIN 31-0841368

Other Services

$5,333

SOLANO/NAPA COUNTIES ELECTRICAL WORKERS PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SOLANO/NAPA COUNTIES ELECTRICAL WORKERS PROFIT SHARING 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