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 (2021) 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 2021

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

Prospect flagsLow returnsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$162.2M

+13.4% from 2020

Total participants

1,095

+3.0% from 2020

Average account balance

$155,558

+10.9% from 2020

Annual return

13.74%

+5.35 pp from 2020

Benchmarks

See 543 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants1,000-4,999

Cohort543 peers

Snapshot2021

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 13 by compensation

Provider	Service type	Compensation
RELIANCE TRUST COMPANY1 year Service code 21 · EIN 58-1428634	Bank Trustee	$5,502,426
MASSACHUSETTS MUTUAL LIFE INS. CO.3 years Service code 52 · EIN 04-1590850	Indirect Investment Fees	$428,286
IBEW LOCAL UNION NO 99 ANNUITY PLAN3 years Service code 50 · EIN 05-6049537	Direct Payment	$368,485
AMERICAN FUNDS4+ years Service code 52 · EIN 52-0792143	Indirect Investment Fees	$0
JPMORGAN INVEST HOLDINGS LLC3 years Filed as: CHEVY CHASE TRUST Service code 52 · EIN 31-1772714	Indirect Investment Fees	$0
COLUMBIA4+ years Service code 52 · EIN 94-1687665	Indirect Investment Fees	$0
EATON VANCE4+ years Service code 52 · EIN 04-6039283	Indirect Investment Fees	$0
THE HARTFORD4+ years Filed as: HARTFORD HLS Service code 52 · EIN 22-2937447	Indirect Investment Fees	$0
PIMCO FUNDS3 years Service code 52 · EIN 95-2632339	Indirect Investment Fees	$0
T ROWE PRICE RPS INC4+ years Filed as: T. ROWE PRICE Service code 52 · EIN 52-1784828	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T

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.
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

$866K

$831 / participant

Investment mgmt$2K0.3%
Other / not subdivided$864K99.7%

% of EOY assets

0.534%

all-in expense ratio

Categories reported

1 / 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
Auditor EIN: 050234540
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$155,558

$118,337+31.5%

$189,537-17.9%

$93,010+67.2%

Participation rate

95.0%

89.1%+5.9pp

87.8%+7.2pp

73.9%+21.1pp

Annual return

13.74%

21.77%-8.0pp

555.34%-541.6pp

158.70%-145.0pp

Employer contribution / active EE

$4,290

$4,204+2.0%

$6,161-30.4%

$2,705+58.6%

Participant deferral / active EE

$7,123-100.0%

$8,220-100.0%

$4,561-100.0%

Admin fee / account holder

$830

$100+733.3%

$12,048-93.1%

$152+447.5%

Provider

Service type

Compensation

RELIANCE TRUST COMPANY1 year

Service code 21 · EIN 58-1428634

Bank Trustee

$5,502,426

MASSACHUSETTS MUTUAL LIFE INS. CO.3 years

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$428,286

IBEW LOCAL UNION NO 99 ANNUITY PLAN3 years

Service code 50 · EIN 05-6049537

Direct Payment

$368,485

AMERICAN FUNDS4+ years

Service code 52 · EIN 52-0792143

Indirect Investment Fees

JPMORGAN INVEST HOLDINGS LLC3 years

Filed as: CHEVY CHASE TRUST

Service code 52 · EIN 31-1772714

Indirect Investment Fees

COLUMBIA4+ years

Service code 52 · EIN 94-1687665

Indirect Investment Fees

EATON VANCE4+ years

Service code 52 · EIN 04-6039283

Indirect Investment Fees

THE HARTFORD4+ years

Filed as: HARTFORD HLS

Service code 52 · EIN 22-2937447

Indirect Investment Fees

PIMCO FUNDS3 years

Service code 52 · EIN 95-2632339

Indirect Investment Fees

T ROWE PRICE RPS INC4+ years

Filed as: T. ROWE PRICE

Service code 52 · EIN 52-1784828

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