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 (2020) 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 2020

ZENITH AMERICAN SOLUTIONS, 10 TECHNOLOGY DR - WALLINGFORD, CT 064921955800-446-8646

Prospect flagsLow returns

How to read this page

Total assets (EOY)

$57.4M

+7.1% from 2019

Total participants

802

+3.9% from 2019

Average account balance

$71,587

+3.1% from 2019

Annual return

4.76%

+3.73 pp from 2019

Benchmarks

See 1,282 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,282 peers

Snapshot2020

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 SOLUTIONS5+ years Service code 12 · EIN 13-3689044	Participant communication; Distributi...	$105,475
IBEW LOCAL NO. 7 ANNUITY3 years Service code 14 · EIN 04-2733497	Plan Administrator	$71,356
ZENITH AMERICAN SOLUTIONS4 years Service code 14 10 TECHNOLOGY DR · WALLINGFORD, CT 064921955	Plan Administrator	$32,704
KRAKOW & SOURIS1 year Filed as: KRAKOW SOURIS & LANDRY Service code 29 225 FRIEND STREET · BOSTON, MA 02114	Legal	$12,064
NICHOLAS LAPIER CPA PC4 years Service code 10 · EIN 32-0048525	Accounting	$11,972
NATIONAL FINACIAL SERVICES1 year Service code 33	Securities brokerage commissions and ...	$0
NATIONAL FINANCIAL SERVICES5+ years Service code 33 · EIN 04-3523567	Securities brokerage; Securities brok...	$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

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$186K

$248 / participant

Investment mgmt$106K57.1%
Contract admin$33K17.6%
Other / not subdivided$47K25.3%

% of EOY assets

0.324%

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

$71,587

$91,517-21.8%

$101,275-29.3%

$73,412-2.5%

Participation rate

100.0%

73.8%+26.2pp

75.8%+24.2pp

72.2%+27.8pp

Annual return

4.76%

17.17%-12.4pp

46.48%-41.7pp

59.30%-54.5pp

Employer contribution / active EE

$4,148

$2,877+44.2%

$3,660+13.3%

$2,234+85.7%

Participant deferral / active EE

$3,338-100.0%

$4,371-100.0%

$3,806-100.0%

Admin fee / account holder

$232

$216+7.3%

$5,948-96.1%

$158+46.7%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS5+ years

Service code 12 · EIN 13-3689044

Participant communication; Distributi...

$105,475

IBEW LOCAL NO. 7 ANNUITY3 years

Service code 14 · EIN 04-2733497

Plan Administrator

$71,356

ZENITH AMERICAN SOLUTIONS4 years

Service code 14

10 TECHNOLOGY DR · WALLINGFORD, CT 064921955

Plan Administrator

$32,704

KRAKOW & SOURIS1 year

Filed as: KRAKOW SOURIS & LANDRY

Service code 29

225 FRIEND STREET · BOSTON, MA 02114

Legal

$12,064

NICHOLAS LAPIER CPA PC4 years

Service code 10 · EIN 32-0048525

Accounting

$11,972

NATIONAL FINACIAL SERVICES1 year

Service code 33

Securities brokerage commissions and ...

NATIONAL FINANCIAL SERVICES5+ years

Service code 33 · EIN 04-3523567

Securities brokerage; Securities brok...

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