Retirement plan

ELECTRICIANS ANNUITY PLAN - IBEW LOCAL 456

Name: ELECTRICIANS ANNUITY FUND IBEW LOCAL 456 - ELECTRICIANS ANNUITY PLAN - IBEW LOCAL 456 (2022) Form 5500
Creator: ELECTRICIANS ANNUITY FUND IBEW LOCAL 456
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ELECTRICIANS ANNUITY PLAN - IBEW LOCAL 456, ELECTRICIANS ANNUITY FUND IBEW LOCAL 456

ELECTRICIANS ANNUITY FUND IBEW LOCAL 456EIN 22-2180156Plan #001PY 2022

C/O IE SHAFFER CO., P.O. BOX 1028, 830 BEAR TAVERN RD. - WEST TRENTON, NJ 086280230800-792-3666

Prospect flagsLow participant contribution

How to read this page

Total assets (EOY)

$296.2M

-5.7% from 2016

Total participants

1,960

+0.5% from 2016

Average account balance

$151,133

No prior year

Annual return

-10.24%

-3.03 pp from 2016

Benchmarks

See 502 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort502 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$355.85M

Not enough data

1 years with asset history on file

Average account balance

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

$182K

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.

1,954

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.

84.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$14.97M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+11.07%

Not enough data

1 years with return on file

Admin fee / account holder

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

$242

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 456 ANNUITY FUND2 years Service code 27 · EIN 22-2180156	Advisory (Plan)	$698,396
PRUDENTIAL RETIREMENT INSURANCE AND3 years Filed as: PRUDENTIAL INSURANCE CO. Service code 15 · EIN 22-1211670	Recordkeeping	$412,112
PRUDENTIAL RETIREMENT INSURANCE AND1 year Filed as: PRUDENTIAL TRUST CO Service code 28 · EIN 23-6994310	Investment Management	$247,267
I.E. SHAFFER & CO.8+ years Service code 13 · EIN 22-1750854 830 BEAR TAVERN ROAD, POBOX 1028 · WEST TRENTON, NJ 08628	Contract Administrator	$169,960
PRIAC2 years Service code 28 · EIN 22-1211670	Investment Management	$77,786
MSPC8+ years Filed as: MSPC CERTIFIED PUBLIC ACCOUNTANTS Service code 10 · EIN 22-2951202 340 NORTH AVENUE · CRANFORD, NJ 070162461	Accounting	$31,756
LINDABURY, MCCORMICK, ESTABROOK8+ years Filed as: LINDABURY, MCCORMICK Service code 29 · EIN 22-1943351 53 CARDINAL DRIVE PO BOX 2369 · WESTFIELD, NJ 070912369	Legal	$27,718
UBS FINANCIAL SERVICES INC8+ years Filed as: UBS FINANCIAL SERVICES Service code 19 · EIN 13-2638166	Securities Custodian	$25,000
KROLL HEINEMAN PTASIEWICZ & PARSONS8+ years Filed as: KROLL HEINEMAN Service code 29 · EIN 76-0760981	Legal	$17,404

Plan features & details

Pension benefit codes2F2G

Plan features

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.

Opportunity flags

1 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$403K

$299 / participant

Investment mgmt$25K6.2%
Contract admin$170K42.2%
Other / not subdivided$208K51.6%

% of EOY assets

0.136%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MSPC CERTIFIED PUBLIC ACCOUNTANTS
Auditor EIN: 222951202
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$151,133

$76,774+96.9%

$112,270+34.6%

$77,906+94.0%

Participation rate

100.0%

80.2%+19.8pp

75.1%+24.9pp

73.7%+26.3pp

Annual return

-10.24%

-10.25%0pp

27.49%-37.7pp

12.16%-22.4pp

Employer contribution / active EE

$10,346

$3,977+160.1%

$3,635+184.6%

$2,846+263.5%

Participant deferral / active EE

$525

$3,778-86.1%

$4,729-88.9%

$4,805-89.1%

Admin fee / account holder

$206

$239-13.9%

$6,411-96.8%

$133+55.1%

Provider

Service type

Compensation

IBEW LOCAL 456 ANNUITY FUND2 years

Service code 27 · EIN 22-2180156

Advisory (Plan)

$698,396

PRUDENTIAL RETIREMENT INSURANCE AND3 years

Filed as: PRUDENTIAL INSURANCE CO.

Service code 15 · EIN 22-1211670

Recordkeeping

$412,112

PRUDENTIAL RETIREMENT INSURANCE AND1 year

Filed as: PRUDENTIAL TRUST CO

Service code 28 · EIN 23-6994310

Investment Management

$247,267

I.E. SHAFFER & CO.8+ years

Service code 13 · EIN 22-1750854

830 BEAR TAVERN ROAD, POBOX 1028 · WEST TRENTON, NJ 08628

Contract Administrator

$169,960

PRIAC2 years

Service code 28 · EIN 22-1211670

Investment Management

$77,786

MSPC8+ years

Filed as: MSPC CERTIFIED PUBLIC ACCOUNTANTS

Service code 10 · EIN 22-2951202

340 NORTH AVENUE · CRANFORD, NJ 070162461

Accounting

$31,756

LINDABURY, MCCORMICK, ESTABROOK8+ years

Filed as: LINDABURY, MCCORMICK

Service code 29 · EIN 22-1943351

53 CARDINAL DRIVE PO BOX 2369 · WESTFIELD, NJ 070912369

Legal

$27,718

UBS FINANCIAL SERVICES INC8+ years

Filed as: UBS FINANCIAL SERVICES

Service code 19 · EIN 13-2638166

Securities Custodian

$25,000

KROLL HEINEMAN PTASIEWICZ & PARSONS8+ years

Filed as: KROLL HEINEMAN

Service code 29 · EIN 76-0760981

Legal

$17,404

ELECTRICIANS ANNUITY PLAN - IBEW LOCAL 456

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ELECTRICIANS ANNUITY PLAN - IBEW LOCAL 456

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