Retirement plan

INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL UNION NO. 99 ANNUITY PLAN

Name: IBEW LOCAL UNION NO. 99 - INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL UNION NO. 99 ANNUITY PLAN (2024) Form 5500
Creator: IBEW LOCAL UNION NO. 99
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL UNION NO. 99 ANNUITY PLAN, IBEW LOCAL UNION NO. 99

IBEW LOCAL UNION NO. 99EIN 05-6049537Plan #002PY 2024

22 AMFLAEX DRIVE - CRANSTON, RI 02921401-946-9900

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$178.7M

+16.5% from 2023

Total participants

1,334

+51.8% from 2023

Average account balance

$145,263

-41.0% from 2023

Annual return

17.73%

+13.92 pp from 2023

Benchmarks

See 609 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants1,000-4,999

Cohort609 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$178.67M

Not enough data

1 years with asset history on file

Average account balance

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

$145K

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.

1,230

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.

91.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$8.22M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+17.73%

Not enough data

1 years with return on file

Admin fee / account holder

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

$456

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
IBEW LOCAL UNION 997+ years Service code 15 · EIN 05-0161150 22 AMFLEX DRIVE · CRANSTON, RI 02921	Recordkeeping	$77,707
WARD FISHER & COMPANY1 year Service code 10 · EIN 05-0234540 250 CENTERVILLE ROAD · WARWICK, RI 02886	Accounting	$76,750
THE SEGAL COMPANY7+ years Service code 11 · EIN 14-1835864 333 WEST 34TH STREET · NEW YORK, NY 10001	Actuarial	$62,000
AB FUNDS1 year Filed as: ALLIANCE BERNSTEIN Service code 28 · EIN 13-4064930 501 COMMERCE STREET · NASHVILLE, TN 37203	Investment Management	$37,445
DANA INVESTMENT ADVISORS1 year Service code 28 · EIN 39-1512278 20700 SWENSON DRIVE · WAUKESHA, WI 53186	Investment Management	$31,761
MESIROW FINANCIAL INVESTMENT MANAGE1 year Filed as: MESIROW FINANCIAL INVESTMENT MGMT Service code 28 · EIN 36-3429599 353 NORTH CLARK STREET · CHICAGO, IL 60654	Investment Management	$30,744
RODIO & URSILLO2 years Filed as: RODIO & URSILLO LTD Service code 29 · EIN 05-0398359 33 BROAD STREET · PROVIDENCE, RI 02903	Legal	$22,404
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$16,696
SMITH GRAHAM1 year Service code 28 140 BROADWAY · NEW YORK, NY 10005	Investment Management	$9,820

Plan features & details

Pension benefit codes2E2F2G2K2T

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
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

$561K

$451 / participant

Investment mgmt$163K29.0%
Legal$22K4.0%
Contract admin$136K24.3%
Other / not subdivided$240K42.7%

% of EOY assets

0.314%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: WARD FISHER & COMPANY LLP
Auditor EIN: 050234540
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$145,263

$122,585+18.5%

$184,256-21.2%

$200,096-27.4%

Participation rate

91.6%

86.9%+4.7pp

86.8%+4.8pp

72.0%+19.6pp

Annual return

17.73%

144.12%-126.4pp

28.85%-11.1pp

34.26%-16.5pp

Employer contribution / active EE

$5,398

$4,571+18.1%

$6,427-16.0%

$3,038+77.7%

Participant deferral / active EE

$1,210

$7,972-84.8%

$9,133-86.8%

$5,090-76.2%

Admin fee / account holder

$456

$120+279.8%

$13,899-96.7%

$269+69.5%

Provider

Service type

Compensation

IBEW LOCAL UNION 997+ years

Service code 15 · EIN 05-0161150

22 AMFLEX DRIVE · CRANSTON, RI 02921

Recordkeeping

$77,707

WARD FISHER & COMPANY1 year

Service code 10 · EIN 05-0234540

250 CENTERVILLE ROAD · WARWICK, RI 02886

Accounting

$76,750

THE SEGAL COMPANY7+ years

Service code 11 · EIN 14-1835864

333 WEST 34TH STREET · NEW YORK, NY 10001

Actuarial

$62,000

AB FUNDS1 year

Filed as: ALLIANCE BERNSTEIN

Service code 28 · EIN 13-4064930

501 COMMERCE STREET · NASHVILLE, TN 37203

Investment Management

$37,445

DANA INVESTMENT ADVISORS1 year

Service code 28 · EIN 39-1512278

20700 SWENSON DRIVE · WAUKESHA, WI 53186

Investment Management

$31,761

MESIROW FINANCIAL INVESTMENT MANAGE1 year

Filed as: MESIROW FINANCIAL INVESTMENT MGMT

Service code 28 · EIN 36-3429599

353 NORTH CLARK STREET · CHICAGO, IL 60654

Investment Management

$30,744

RODIO & URSILLO2 years

Filed as: RODIO & URSILLO LTD

Service code 29 · EIN 05-0398359

33 BROAD STREET · PROVIDENCE, RI 02903

Legal

$22,404

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$16,696

SMITH GRAHAM1 year

Service code 28

140 BROADWAY · NEW YORK, NY 10005

Investment Management

$9,820

INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL UNION NO. 99 ANNUITY PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL UNION NO. 99 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