Local Union 514 401(k) match, vesting and fees
What Local Union 514's 401(k) plan says about matching contributions
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Recordkeeper | Principal Life Insurance Company | Schedule C ↗ |
| Independent auditor | Pkf O'Connor Davies, LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
How the plan compares
Plan year 2024 medians for 1,100 defined-contribution plans in accommodation and food services with 100 to 499 participants.
| Local Union 514: employer contribution per participant | $1,553 | |
| Peer median | $935 |
| Local Union 514: average balance | $8,014 | |
| Peer median | $24,052 |
| Local Union 514: admin expenses ÷ assets | 3.89% | |
| Peer median | 0.61% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $788K at the end of plan year 2021 to $2.2M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 315 | $2.2M | $427K | $1,553 | 3.89% | Not published | Form 5500 ↗ |
| 2023 | 334 | $1.6M | $702K | $2,821 | 1.50% | Not published | 5500-SF ↗ |
| 2022 | 114 | $741K | $75K | $820 | 1.90% | Not published | 5500-SF ↗ |
| 2021 | 101 | $788K | $56K | $558 | 2.18% | Not published | 5500-SF ↗ |
Common questions
Does Local Union 514 match 401(k) contributions?
The match terms for the B. A. T. Retirement Fund have not been published from its filing yet. The plan year 2024 filing reports $427K in employer contributions, about $1,553 per participant. That total includes any match and profit-sharing; it is not a match formula.
When is the Local Union 514 401(k) match vested?
The vesting schedule for the B. A. T. Retirement Fund is not in the data published so far. Your Summary Plan Description states it.
Who manages the Local Union 514 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Principal Life Insurance Company. The plan administrator is Local Union 514.
I left Local Union 514. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Local Union 514, (914) 705-5488) or the recordkeeper, Principal Life Insurance Company. The Local Union 514 old 401(k) page lists the contacts from every plan filing. Find an old Local Union 514 401(k)
Data from the public Form 5500 annual reports Local Union 514 filed with the U.S. Department of Labor (plan years 2021 and 2022 and 2023 and 2024) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with Local Union 514. Not financial advice. Report a correction · Methodology