Retirement plan

THE INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL 7 ANNUITY PLAN

Name: INTL BROTHERHOOD OF ELEC WORKERS UNION LOCAL 7 - THE INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL 7 ANNUITY PLAN (2018) Form 5500
Creator: INTL BROTHERHOOD OF ELEC WORKERS UNION LOCAL 7
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL 7 ANNUITY PLAN, INTL BROTHERHOOD OF ELEC WORKERS UNION LOCAL 7

INTL BROTHERHOOD OF ELEC WORKERS UNION LOCAL 7EIN 04-2733497Plan #002PY 2018

10 TECHNOLOGY DR - WALLINGFORD, CT 064921955800-446-8646

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$53.4M

+8.5% from 2017

Total participants

742

+8.5% from 2017

Average account balance

$71,973

+0.0% from 2017

Annual return

7.53%

-0.37 pp from 2017

Benchmarks

See 1,182 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,182 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$78.17M

Not enough data

1 years with asset history on file

Average account balance

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

$85K

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.

915

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

$4.60M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+7.78%

Not enough data

1 years with return on file

Admin fee / account holder

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

$306

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 7 by compensation

Provider	Service type	Compensation
TRANSAMERICA RETIREMENT SOLUTIONS3+ years Service code 12 · EIN 13-3689044	Finders' fees / placement fees; Inves...	$93,687
IBEW LOCAL NO. 7 ANNUITY1 year Service code 14 · EIN 04-2733497	Plan Administrator	$65,780
ZENITH AMERICAN SOLUTIONS2 years Service code 14 10 TECHNOLOGY DR · WALLINGFORD, CT 064921955	Plan Administrator	$30,900
KRAKOW & SOURIS3+ years Service code 29 225 FRIEND STREET · BOSTON, MA 02114	Legal	$11,585
NICHOLAS LAPIER CPA PC2 years Service code 10 · EIN 32-0048525	Accounting	$9,166
CHARLES SCHWAB & CO., INC.3+ years Filed as: CHARLES SCHWAB & CO INC. Service code 33 · EIN 94-1737782	Securities brokerage commissions and ...	$139
NATIONAL FINANCIAL SERVICES3+ years Service code 33 · EIN 04-3523567	Securities brokerage commissions and ...	$0

Plan features & details

Pension benefit codes2E2F2G2J2T

Plan features

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).
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.
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

1 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$232K

$337 / participant

Investment mgmt$159K68.7%
Contract admin$31K13.3%
Other / not subdivided$42K18.0%

% of EOY assets

0.435%

all-in expense ratio

Categories reported

2 / 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: NICHOLAS LAPIER CPA PC
Auditor EIN: 320048525
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$71,973

$56,443+27.5%

$83,831-14.1%

$55,725+29.2%

Participation rate

100.0%

72.0%+28.0pp

76.1%+23.9pp

70.9%+29.1pp

Annual return

7.53%

393.67%-386.1pp

850.99%-843.5pp

244.93%-237.4pp

Employer contribution / active EE

$4,165

$2,682+55.3%

$3,631+14.7%

$2,078+100.4%

Participant deferral / active EE

$2,965-100.0%

$4,082-100.0%

$3,356-100.0%

Admin fee / account holder

$313

$156+100.2%

$5,479-94.3%

$115+171.6%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS3+ years

Service code 12 · EIN 13-3689044

Finders' fees / placement fees; Inves...

$93,687

IBEW LOCAL NO. 7 ANNUITY1 year

Service code 14 · EIN 04-2733497

Plan Administrator

$65,780

ZENITH AMERICAN SOLUTIONS2 years

Service code 14

10 TECHNOLOGY DR · WALLINGFORD, CT 064921955

Plan Administrator

$30,900

KRAKOW & SOURIS3+ years

Service code 29

225 FRIEND STREET · BOSTON, MA 02114

Legal

$11,585

NICHOLAS LAPIER CPA PC2 years

Service code 10 · EIN 32-0048525

Accounting

$9,166

CHARLES SCHWAB & CO., INC.3+ years

Filed as: CHARLES SCHWAB & CO INC.

Service code 33 · EIN 94-1737782

Securities brokerage commissions and ...

$139

NATIONAL FINANCIAL SERVICES3+ years

Service code 33 · EIN 04-3523567

Securities brokerage commissions and ...

THE INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL 7 ANNUITY PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL 7 ANNUITY 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