Retirement plan

U.A. LOCAL NO. 393 DEFINED BENEFIT PENSION PLAN

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

BOARD OF TRUSTEES OF THE U.A. LOCAL NO. 393 DEFINED BENEFIT PENSION PLEIN 94-6359772Plan #002PY 2023

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

Prospect flagsHigh retiree %

How to read this page

Total assets (EOY)

$899.1M

-10.5% from 2016

Total participants

3,765

-1.7% from 2016

Average account balance

No prior year

Annual return

17.67%

-4.73 pp from 2016

Benchmarks

See 154 peers

Peer group

Industry23 - Construction

Plan typeDefined benefit

Participants1,000-4,999

Cohort154 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.03B

Not enough data

1 years with asset history on file

Average account balance

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

$268K

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.

1,861

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.

0.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$56.97M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$29K

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

+11.54%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 15 by compensation

Provider	Service type	Compensation
POLEN CAPITAL2 years Filed as: POLEN CAPITAL MANAGEMENT LLC Service code 28 · EIN 26-0319356	Investment Management	$1,132,297
NUVEEN9+ years Filed as: NWQ INVESTMENTS Service code 28 · EIN 47-0875103	Investment Management	$774,993
COLUMBIA1 year Filed as: COLUMBIA MANAGEMENT Service code 28 · EIN 41-1533211	Investment Management	$759,274
BENESYS, INC.9+ years Filed as: BENESYS ADMINISTRATORS Service code 13 · EIN 38-2383171	Contract Administrator	$349,189
RAYMOND JAMES FINANCIAL SERVICES1 year Filed as: RAYMOND JAMES FINANCIAL, INC Service code 28 880 CARILLON PARKWAY · ST PETERSBURG, FL 33716	Investment Management	$304,766
SUZANNE NEEDHAM3 years Service code 30 6293 SAN IGNACIO AVENUE · SAN JOSE, CA 95119	Direct payment from the plan; Employe...	$148,519
NORTHWEST PLAN SERVICES, INC.2 years Filed as: NORTHWEST PLAN SERVICES Service code 11 · EIN 91-2090931	Actuarial	$123,000
MATRIX TRUST COMPANY9+ years Service code 19 · EIN 75-3182674	Securities Custodian	$112,934
WITHUMSMITH+BROWN, PC1 year Filed as: WITHUMSMITH+BROWN PC Service code 10 · EIN 22-2027092	Accounting	$78,945
KRAW LAW GROUP9+ years Service code 29 · EIN 77-0171216	Legal	$75,336

Enrolled actuary

1 attachment

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Plan features & details

Pension benefit codes1B

Plan features

1B
Benefits are primarily flat dollar
Benefits are primarily a flat dollar amount (including a dollar amount per year of service).

Opportunity flags

1 tripped

InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

Expense breakdown

Schedule H Part II

Admin total

$4.2M

$2089 / participant

Recordkeeping$39K0.9%
Investment mgmt$3M74.5%
Legal$101K2.4%
Actuarial$123K2.9%
Salaries / allowances$149K3.6%
Other trustee fees$22K0.5%
Contract admin$328K7.9%
Other / not subdivided$303K7.3%

% of EOY assets

0.464%

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: $63,916
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$13,363-100.0%

$473,625-100.0%

$13,363-100.0%

Participation rate

0.0%

0.0%0pp

37.3%-37.3pp

2.2%-2.2pp

Annual return

17.67%

7.95%+9.7pp

20.18%-2.5pp

9.11%+8.6pp

Employer contribution / active EE

$29,027

$14,684+97.7%

$29,108-0.3%

$12,231+137.3%

Participant deferral / active EE

$520-100.0%

$6-100.0%

$1,272-100.0%

Admin fee / account holder

$125-100.0%

$2,262-100.0%

$125-100.0%

Provider

Service type

Compensation

POLEN CAPITAL2 years

Filed as: POLEN CAPITAL MANAGEMENT LLC

Service code 28 · EIN 26-0319356

Investment Management

$1,132,297

NUVEEN9+ years

Filed as: NWQ INVESTMENTS

Service code 28 · EIN 47-0875103

Investment Management

$774,993

COLUMBIA1 year

Filed as: COLUMBIA MANAGEMENT

Service code 28 · EIN 41-1533211

Investment Management

$759,274

BENESYS, INC.9+ years

Filed as: BENESYS ADMINISTRATORS

Service code 13 · EIN 38-2383171

Contract Administrator

$349,189

RAYMOND JAMES FINANCIAL SERVICES1 year

Filed as: RAYMOND JAMES FINANCIAL, INC

Service code 28

880 CARILLON PARKWAY · ST PETERSBURG, FL 33716

Investment Management

$304,766

SUZANNE NEEDHAM3 years

Service code 30

6293 SAN IGNACIO AVENUE · SAN JOSE, CA 95119

Direct payment from the plan; Employe...

$148,519

NORTHWEST PLAN SERVICES, INC.2 years

Filed as: NORTHWEST PLAN SERVICES

Service code 11 · EIN 91-2090931

Actuarial

$123,000

MATRIX TRUST COMPANY9+ years

Service code 19 · EIN 75-3182674

Securities Custodian

$112,934

WITHUMSMITH+BROWN, PC1 year

Filed as: WITHUMSMITH+BROWN PC

Service code 10 · EIN 22-2027092

Accounting

$78,945

KRAW LAW GROUP9+ years

Service code 29 · EIN 77-0171216

Legal

$75,336

U.A. LOCAL NO. 393 DEFINED BENEFIT PENSION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Enrolled actuary

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

U.A. LOCAL NO. 393 DEFINED BENEFIT PENSION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Enrolled actuary

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