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 (2020) 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 2020

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

Prospect flagsLow returnsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$143.1M

+6.5% from 2019

Total participants

1,063

+2.9% from 2019

Average account balance

$140,312

+3.6% from 2019

Annual return

8.38%

-0.58 pp from 2019

Benchmarks

See 526 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants1,000-4,999

Cohort526 peers

Snapshot2020

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

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Service providers

Top 10 of 16 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.2 years Service code 52 · EIN 04-1590850	Indirect Investment Fees	$420,321
IBEW LOCAL UNION NO 99 ANNUITY PLAN2 years Service code 50 · EIN 05-6049537	Direct Payment	$367,466
WARD FISHER & COMPANY3+ years Filed as: WARD FISHER & COMPANY LLP Service code 10 · EIN 05-0234540	Accounting	$76,050
IBEW LOCAL UNION 991 year Filed as: IBEW LOCAL 99 Service code 15 · EIN 05-0161150	Recordkeeping	$66,141
THE SEGAL COMPANY3+ years Service code 11 · EIN 14-1835864	Actuarial	$62,000
RODIO & URSILLO1 year Filed as: RODIO + URSILLO LTD Service code 29 · EIN 05-0398359	Legal	$34,689
AMERICAN FUNDS3+ years Service code 52 · EIN 52-0792143	Indirect Investment Fees	$0
JPMORGAN INVEST HOLDINGS LLC2 years Filed as: CHEVY CHASE TRUST Service code 52 · EIN 31-1772714	Indirect Investment Fees	$0
COLUMBIA3+ years Service code 52 · EIN 94-1687665	Indirect Investment Fees	$0
EATON VANCE3+ years Service code 52 · EIN 04-6039283	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2C2F2G2K2T

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.
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

3 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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$486K

$476 / participant

Investment mgmt$101K20.9%
Other / not subdivided$385K79.1%

% of EOY assets

0.340%

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: WARD FISHERR & COMPANY LLP
Auditor EIN: 050234540
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$140,312

$110,699+26.8%

$177,848-21.1%

$90,274+55.4%

Participation rate

95.8%

88.3%+7.4pp

87.7%+8.1pp

73.4%+22.4pp

Annual return

8.38%

22.79%-14.4pp

48.33%-39.9pp

53.97%-45.6pp

Employer contribution / active EE

$4,241

$4,118+3.0%

$5,919-28.4%

$2,523+68.0%

Participant deferral / active EE

$6,731-100.0%

$7,714-100.0%

$4,231-100.0%

Admin fee / account holder

$476

$90+429.3%

$12,431-96.2%

$114+317.7%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.2 years

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$420,321

IBEW LOCAL UNION NO 99 ANNUITY PLAN2 years

Service code 50 · EIN 05-6049537

Direct Payment

$367,466

WARD FISHER & COMPANY3+ years

Filed as: WARD FISHER & COMPANY LLP

Service code 10 · EIN 05-0234540

Accounting

$76,050

IBEW LOCAL UNION 991 year

Filed as: IBEW LOCAL 99

Service code 15 · EIN 05-0161150

Recordkeeping

$66,141

THE SEGAL COMPANY3+ years

Service code 11 · EIN 14-1835864

Actuarial

$62,000

RODIO & URSILLO1 year

Filed as: RODIO + URSILLO LTD

Service code 29 · EIN 05-0398359

Legal

$34,689

AMERICAN FUNDS3+ years

Service code 52 · EIN 52-0792143

Indirect Investment Fees

JPMORGAN INVEST HOLDINGS LLC2 years

Filed as: CHEVY CHASE TRUST

Service code 52 · EIN 31-1772714

Indirect Investment Fees

COLUMBIA3+ years

Service code 52 · EIN 94-1687665

Indirect Investment Fees

EATON VANCE3+ years

Service code 52 · EIN 04-6039283

Indirect Investment Fees

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