Retirement plan

AMENDED AND RESTATED MONEY PURCHASE RETIREMENT PLAN LOCAL 567 OF I.B.E.W.

Name: BOARD OF DIRECTORS OF AMENDED AND RESTATED MONEY PURCHASE RETIREMENT - AMENDED AND RESTATED MONEY PURCHASE RETIREMENT PLAN LOCAL 567 OF I.B.E.W. (2016) Form 5500
Creator: BOARD OF DIRECTORS OF AMENDED AND RESTATED MONEY PURCHASE RETIREMENT
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, AMENDED AND RESTATED MONEY PURCHASE RETIREMENT PLAN LOCAL 567 OF I.B.E.W., BOARD OF DIRECTORS OF AMENDED AND RESTATED MONEY PURCHASE RETIREMENT

BOARD OF DIRECTORS OF AMENDED AND RESTATED MONEY PURCHASE RETIREMENTEIN 01-0439781Plan #002PY 2016

238 GODDARD ROAD - LEWISTON, ME 042401000207-786-9770

Other plans on this EIN

1 filing

#003Retirement-$624K assets

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$41.6M

No prior year

Total participants

356

No prior year

Average account balance

$120,011

No prior year

Annual return

-0.75%

No prior year

Benchmarks

See 1,686 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants100-249

Cohort1,686 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$72.51M

Not enough data

1 years with asset history on file

Average account balance

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

$135K

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.

538

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

$3.51M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+7.26%

Not enough data

1 years with return on file

Admin fee / account holder

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

$518

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 9 by compensation

Provider	Service type	Compensation
PROFIT PLANNERS LLC1+ years Filed as: PROFIT SHARING & 401(K) PLAN Service code 14 · EIN 01-0439781	Plan Administrator	$105,814
KIMBERELY KEENAN1+ years Filed as: KIM KEENAN Service code 13 · EIN 01-0439781	Contract Administrator	$65,593
PENSION FUND EVALUATIONS, INC.1+ years Service code 20 · EIN 11-2503982	Trustee (individual)	$16,225
FILLER & ASSOCIATES P.A.1+ years Service code 10 · EIN 01-0378528	Accounting	$15,993
I.B.E.W LOCAL 567 BUILDING CORP.1+ years Service code 99 · EIN 01-0443300	Other Fees	$15,125
VAN MEER & BELANGER, P.A.1+ years Service code 29 · EIN 01-0441753 20 YORK ST · PORTLAND, ME 04101	Legal	$12,060
LOCAL 1102 RWDSU1+ years Filed as: LOCAL 567 I.B.E.W Service code 14 · EIN 01-0439781	Plan Administrator	$5,535
MASSACHUSETTS MUTUAL LIFE INS. CO.1+ years Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 52 · EIN 04-1590850	Indirect Investment Fees	$1,613
WELLS FARGO BANK, N.A.1+ years Filed as: WELLS FARGO GALLIARD CAPITAL Service code 52 · EIN 94-3371778	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2C2F2G2T

Plan features

2C
Money purchase plan
Money purchase pension plan other than a target benefit 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).
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.
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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$177K

$727 / participant

Investment mgmt$16K9.1%
Other / not subdivided$161K90.9%

% of EOY assets

0.426%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: FILLER & ASSOCIATES P.A.
Auditor EIN: 010378528
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$120,011

$43,423+176.4%

$78,676+52.5%

$55,167+117.5%

Participation rate

96.3%

68.0%+28.3pp

73.6%+22.7pp

69.0%+27.3pp

Annual return

-0.75%

11.53%-12.3pp

62.19%-62.9pp

169.23%-170.0pp

Employer contribution / active EE

$4,728

$1,997+136.8%

$2,850+65.9%

$1,963+140.9%

Participant deferral / active EE

$2,509-100.0%

$3,517-100.0%

$3,054-100.0%

Admin fee / account holder

$511

$416+22.9%

$4,510-88.7%

$504+1.5%

Provider

Service type

Compensation

PROFIT PLANNERS LLC1+ years

Filed as: PROFIT SHARING & 401(K) PLAN

Service code 14 · EIN 01-0439781

Plan Administrator

$105,814

KIMBERELY KEENAN1+ years

Filed as: KIM KEENAN

Service code 13 · EIN 01-0439781

Contract Administrator

$65,593

PENSION FUND EVALUATIONS, INC.1+ years

Service code 20 · EIN 11-2503982

Trustee (individual)

$16,225

FILLER & ASSOCIATES P.A.1+ years

Service code 10 · EIN 01-0378528

Accounting

$15,993

I.B.E.W LOCAL 567 BUILDING CORP.1+ years

Service code 99 · EIN 01-0443300

Other Fees

$15,125

VAN MEER & BELANGER, P.A.1+ years

Service code 29 · EIN 01-0441753

20 YORK ST · PORTLAND, ME 04101

Legal

$12,060

LOCAL 1102 RWDSU1+ years

Filed as: LOCAL 567 I.B.E.W

Service code 14 · EIN 01-0439781

Plan Administrator

$5,535

MASSACHUSETTS MUTUAL LIFE INS. CO.1+ years

Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$1,613

WELLS FARGO BANK, N.A.1+ years

Filed as: WELLS FARGO GALLIARD CAPITAL

Service code 52 · EIN 94-3371778

Indirect Investment Fees

AMENDED AND RESTATED MONEY PURCHASE RETIREMENT PLAN LOCAL 567 OF I.B.E.W.

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

AMENDED AND RESTATED MONEY PURCHASE RETIREMENT PLAN LOCAL 567 OF I.B.E.W.

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