Retirement plan

IBEW LOCAL 1049 CRAFT ANNUITY FUND

Name: BOARD OF TRUSTEES IBEW LOCAL 1049 - IBEW LOCAL 1049 CRAFT ANNUITY FUND (2016) Form 5500
Creator: BOARD OF TRUSTEES IBEW LOCAL 1049
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IBEW LOCAL 1049 CRAFT ANNUITY FUND, BOARD OF TRUSTEES IBEW LOCAL 1049

BOARD OF TRUSTEES IBEW LOCAL 1049dba CRAFT ANNUITY FUNDEIN 11-3051862Plan #001PY 2016

100 CORPORATE DRIVE - HOLTSVILLE, NY 11742631-234-1803LinkedIn1001-5000 employeesinsurance

Prospect flagsLow returnsLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$128.3M

-18.5% from 2017

Total participants

2,450

-10.3% from 2017

Average account balance

$54,241

-8.8% from 2017

Annual return

-0.58%

-10.75 pp from 2017

Benchmarks

See 529 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants1,000-4,999

Cohort529 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$349.19M

Not enough data

1 years with asset history on file

Average account balance

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

$104K

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.

3,362

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.

90.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$29.90M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+9.95%

Not enough data

1 years with return on file

Admin fee / account holder

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

$138

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 8 by compensation

Provider	Service type	Compensation
FIRST FINANCIAL SERVICES1+ years Service code 28 · EIN 11-3043712 38 KINGS HIGHWAY · HAUPPAUGE, NY 11788	Investment Management	$58,695
IBEW LOCAL 1049 HEALTH & WELFARE FD1+ years Service code 15 · EIN 11-6043757 100 CORPORATE DRIVE · HOLTSVILLE, NY 11742	Recordkeeping	$41,004
IBEW 1049 CRAFT SKILL IMPRVT CORP.1+ years Service code 49 · EIN 11-0502155 100 CORPORATE DRIVE · HOLTSVILLE, NY 11742	Other Services	$23,738
COLLERAN, O'HARA & MILLS LLP1+ years Filed as: HOLM & OHARA, LLP Service code 29 · EIN 13-3591118 3 WEST 35TH STREET 9TH FLOOR · NEW YORK, NY 10001	Legal	$19,623
GOULD, KOBRICK & SCHLAPP, P.C.1+ years Filed as: GOULD, KOBRICK, & SCHLAPP, P.C. Service code 10 · EIN 13-3082707 3 PARK AVE 14TH FLOOR · NEW YORK, NY 10016	Accounting	$13,500
I.B.E.W. 1049 MANAGEMENT CORP.1+ years Service code 15 · EIN 11-2170742 100 CORPORATE DRIVE · HOLTSVILLE, NY 11742	Recordkeeping	$10,584
STEPHEN FRIEDMAN1+ years Service code 16 · EIN 20-2410530 PO BOX 389 · MATTITUCK, NY 11952	Consulting	$6,000
MASSACHUSETTS MUTUAL LIFE INS. CO.1+ years Service code 52	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2F2G2T

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.
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.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$193K

$79 / participant

Investment mgmt$59K30.4%
Other / not subdivided$134K69.6%

% of EOY assets

0.151%

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: GOULD, KOBRICK, & SCHLAPP, P.C.
Auditor EIN: 133082707
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$54,241

$80,354-32.5%

$133,975-59.5%

$63,975-15.2%

Participation rate

96.5%

87.5%+9.0pp

87.1%+9.4pp

71.1%+25.4pp

Annual return

-0.58%

13.11%-13.7pp

29.29%-29.9pp

48.65%-49.2pp

Employer contribution / active EE

$5,724

$3,503+63.4%

$5,211+9.8%

$2,182+162.4%

Participant deferral / active EE

$371

$5,239-92.9%

$6,282-94.1%

$3,356-88.9%

Admin fee / account holder

$82

$69+17.8%

$9,324-99.1%

$70+16.0%

Provider

Service type

Compensation

FIRST FINANCIAL SERVICES1+ years

Service code 28 · EIN 11-3043712

38 KINGS HIGHWAY · HAUPPAUGE, NY 11788

Investment Management

$58,695

IBEW LOCAL 1049 HEALTH & WELFARE FD1+ years

Service code 15 · EIN 11-6043757

100 CORPORATE DRIVE · HOLTSVILLE, NY 11742

Recordkeeping

$41,004

IBEW 1049 CRAFT SKILL IMPRVT CORP.1+ years

Service code 49 · EIN 11-0502155

100 CORPORATE DRIVE · HOLTSVILLE, NY 11742

Other Services

$23,738

COLLERAN, O'HARA & MILLS LLP1+ years

Filed as: HOLM & OHARA, LLP

Service code 29 · EIN 13-3591118

3 WEST 35TH STREET 9TH FLOOR · NEW YORK, NY 10001

Legal

$19,623

GOULD, KOBRICK & SCHLAPP, P.C.1+ years

Filed as: GOULD, KOBRICK, & SCHLAPP, P.C.

Service code 10 · EIN 13-3082707

3 PARK AVE 14TH FLOOR · NEW YORK, NY 10016

Accounting

$13,500

I.B.E.W. 1049 MANAGEMENT CORP.1+ years

Service code 15 · EIN 11-2170742

100 CORPORATE DRIVE · HOLTSVILLE, NY 11742

Recordkeeping

$10,584

STEPHEN FRIEDMAN1+ years

Service code 16 · EIN 20-2410530

PO BOX 389 · MATTITUCK, NY 11952

Consulting

$6,000

MASSACHUSETTS MUTUAL LIFE INS. CO.1+ years

Service code 52

Indirect Investment Fees

IBEW LOCAL 1049 CRAFT ANNUITY FUND

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IBEW LOCAL 1049 CRAFT ANNUITY FUND

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