Retirement plan

IBEW LOCAL 1049 CRAFT ANNUITY FUND

Name: BOARD OF TRUSTEES IBEW LOCAL 1049 - IBEW LOCAL 1049 CRAFT ANNUITY FUND (2017) 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 2017

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)

$157.3M

-18.5% from 2017

Total participants

2,731

-10.3% from 2017

Average account balance

$59,457

-8.8% from 2017

Annual return

10.17%

-10.75 pp from 2017

Benchmarks

See 531 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants1,000-4,999

Cohort531 peers

Snapshot2017

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 9 by compensation

Provider	Service type	Compensation
IBEW LOCAL 1049 HEALTH & WELFARE FD2+ years Service code 15 · EIN 11-6043757 100 CORPORATE DRIVE · HOLTSVILLE, NY 11742	Recordkeeping	$104,896
FIRST FINANCIAL SERVICES2+ years Service code 28 · EIN 11-3043712 38 KINGS HIGHWAY · HAUPPAUGE, NY 11788	Investment Management	$69,436
SYNTONIC SYSTEMS, INC.1 year Service code 15 · EIN 13-2925049	Recordkeeping	$24,000
KOBGO ASSOCIATES1 year Service code 10 · EIN 13-2751089	Accounting	$21,108
COLLERAN, O'HARA & MILLS LLP2+ years Filed as: HOLM & OHARA, LLP Service code 29 · EIN 13-3591118 3 WEST 35TH STREET 9TH FLOOR · NEW YORK, NY 10001	Legal	$19,758
GOULD, KOBRICK & SCHLAPP, P.C.2+ 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
MSI TECHNOLOGIES INC.1 year Filed as: MSI TECHNOLOGIES Service code 15 · EIN 22-3276479	Recordkeeping	$9,125
STEPHEN FRIEDMAN2+ years Service code 16 · EIN 20-2410530 PO BOX 389 · MATTITUCK, NY 11952	Consulting	$6,000
MASSACHUSETTS MUTUAL LIFE INS. CO.2+ 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

$294K

$109 / participant

Investment mgmt$69K23.6%
Other / not subdivided$225K76.4%

% of EOY assets

0.187%

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

$59,457

$89,274-33.4%

$149,721-60.3%

$77,958-23.7%

Participation rate

96.9%

87.6%+9.2pp

87.1%+9.8pp

71.6%+25.2pp

Annual return

10.17%

20.36%-10.2pp

1501.67%-1491.5pp

20.87%-10.7pp

Employer contribution / active EE

$6,829

$3,727+83.2%

$5,444+25.4%

$2,310+195.6%

Participant deferral / active EE

$413

$5,382-92.3%

$6,568-93.7%

$3,537-88.3%

Admin fee / account holder

$111

$240-53.6%

$11,282-99.0%

$97+14.3%

Provider

Service type

Compensation

IBEW LOCAL 1049 HEALTH & WELFARE FD2+ years

Service code 15 · EIN 11-6043757

100 CORPORATE DRIVE · HOLTSVILLE, NY 11742

Recordkeeping

$104,896

FIRST FINANCIAL SERVICES2+ years

Service code 28 · EIN 11-3043712

38 KINGS HIGHWAY · HAUPPAUGE, NY 11788

Investment Management

$69,436

SYNTONIC SYSTEMS, INC.1 year

Service code 15 · EIN 13-2925049

Recordkeeping

$24,000

KOBGO ASSOCIATES1 year

Service code 10 · EIN 13-2751089

Accounting

$21,108

COLLERAN, O'HARA & MILLS LLP2+ years

Filed as: HOLM & OHARA, LLP

Service code 29 · EIN 13-3591118

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

Legal

$19,758

GOULD, KOBRICK & SCHLAPP, P.C.2+ 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

MSI TECHNOLOGIES INC.1 year

Filed as: MSI TECHNOLOGIES

Service code 15 · EIN 22-3276479

Recordkeeping

$9,125

STEPHEN FRIEDMAN2+ years

Service code 16 · EIN 20-2410530

PO BOX 389 · MATTITUCK, NY 11952

Consulting

$6,000

MASSACHUSETTS MUTUAL LIFE INS. CO.2+ 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