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 (2022) 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 2022

ZENITH AMERICAN ADMINISTRATORS, PO BOX 5817 - WALLINGFORD, CT 064927617800-446-8646

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$65.7M

-5.3% from 2021

Total participants

864

+0.6% from 2021

Average account balance

$76,097

-6.0% from 2021

Annual return

-5.11%

-24.89 pp from 2021

Benchmarks

See 1,393 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,393 peers

Snapshot2022

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 5 by compensation

Provider	Service type	Compensation
TRANSAMERICA RETIREMENT SOLUTIONS7+ years Service code 12 · EIN 13-3689044	Direct payment from the plan; Sales l...	$115,963
IBEW LOCAL NO. 7 ANNUITY6 years Filed as: IBEW LOCAL NO. 7 ANNUITY FUND Service code 14 · EIN 04-2733497	Plan Administrator	$78,362
LAPIER DILLON AND ASSOCIATES PC1 year Filed as: LAPIER, DILLON & ASSOCIATES, PC Service code 10 · EIN 32-0048525	Accounting	$17,160
KRAKOW & SOURIS1 year Filed as: KRAKOW, SOURIS AND LANDRY, LLC Service code 29 90 CANAL STREET · BOSTON, MA 02114	Legal	$13,000
NATIONAL FINANCIAL SERVICES7+ 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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$202K

$255 / participant

Investment mgmt$116K57.5%
Contract admin$34K16.7%
Other / not subdivided$52K25.7%

% of EOY assets

0.307%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: LAPIER, DILLON & ASSOCIATES PC
Auditor EIN: 320048525
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$76,097

$106,236-28.4%

$112,249-32.2%

$64,819+17.4%

Participation rate

100.0%

71.7%+28.3pp

75.1%+24.9pp

71.5%+28.5pp

Annual return

-5.11%

-6.02%+0.9pp

27.48%-32.6pp

32.84%-38.0pp

Employer contribution / active EE

$4,508

$3,166+42.4%

$3,636+24.0%

$2,507+79.8%

Participant deferral / active EE

$3,785-100.0%

$4,729-100.0%

$4,311-100.0%

Admin fee / account holder

$234

$452-48.3%

$6,412-96.4%

$188+24.3%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS7+ years

Service code 12 · EIN 13-3689044

Direct payment from the plan; Sales l...

$115,963

IBEW LOCAL NO. 7 ANNUITY6 years

Filed as: IBEW LOCAL NO. 7 ANNUITY FUND

Service code 14 · EIN 04-2733497

Plan Administrator

$78,362

LAPIER DILLON AND ASSOCIATES PC1 year

Filed as: LAPIER, DILLON & ASSOCIATES, PC

Service code 10 · EIN 32-0048525

Accounting

$17,160

KRAKOW & SOURIS1 year

Filed as: KRAKOW, SOURIS AND LANDRY, LLC

Service code 29

90 CANAL STREET · BOSTON, MA 02114

Legal

$13,000

NATIONAL FINANCIAL SERVICES7+ 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