Retirement plan

IBEW LOCAL UNION NO 102 SURETY PLAN

Name: IBEW LOCAL UNION NO 102 SURETY PLAN BOARD OF TRUSTEES - IBEW LOCAL UNION NO 102 SURETY PLAN (2024) Form 5500
Creator: IBEW LOCAL UNION NO 102 SURETY PLAN BOARD OF TRUSTEES
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IBEW LOCAL UNION NO 102 SURETY PLAN, IBEW LOCAL UNION NO 102 SURETY PLAN BOARD OF TRUSTEES

IBEW LOCAL UNION NO 102 SURETY PLAN BOARD OF TRUSTEESEIN 22-2347484Plan #002PY 2024

50 PARSIPPANY ROAD - PARSIPPANY, NJ 07054973-887-1718LinkedIn1001-5000 employeesconstruction

Prospect flagsLow returns

How to read this page

Total assets (EOY)

$684.9M

+7.4% from 2023

Total participants

3,912

-0.1% from 2023

Average account balance

$175,562

+7.8% from 2023

Annual return

9.91%

+1.00 pp from 2023

Benchmarks

See 562 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort562 peers

Snapshot2024

See peer percentile detail. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$684.87M

Not enough data

1 years with asset history on file

Average account balance

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

$176K

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.

3,901

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.

99.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$29.12M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+9.91%

Not enough data

1 years with return on file

Admin fee / account holder

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

$91

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

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

Start for $4.99 See plans

Service providers

Top 6 by compensation

Provider	Service type	Compensation
I.E. SHAFFER & CO.10+ years Filed as: IE SHAFFER AND COMPANY Service code 14 · EIN 22-1750854 830 BEAR TAVERN ROAD · WEST TRENTON, NJ 08628	Plan Administrator	$124,824
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE CO Service code 64 · EIN 06-1050034 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$62,803
GERSON & ASSOC CPAS AND ADVISORS PC2 years Filed as: GERSON & ASSOC, CPAS AND ADVISORS Service code 10 · EIN 22-3163246 201 WEST PASSAIC STREET · ROCHELLE PARK, NJ 07662	Accounting	$61,570
MORGAN STANLEY SMITH BARNEY10+ years Filed as: MORGAN STANLEY SMITH BARNEY LLC Service code 27 · EIN 20-8764829 522 FIFTH AVENUE · NEW YORK, NY 10036	Advisory (Plan)	$31,364
ORANSKY SCARAGGI & BORG P.C.10+ years Filed as: ORANSKY SCARAGGI AND BORG PC Service code 29 · EIN 22-3522685 175 FAIRFIELD AVE · WEST CALDWELL, NJ 07006	Legal	$18,133
TIMOTHY R HOTT PC10+ years Service code 29 · EIN 22-3724341 PO BOX 498 · CLIFFWOOD, NJ 07721	Legal	$18,087

Plan features & details

Pension benefit codes2E2G2T

Plan features

2E
Profit-sharing
Profit-sharing plan.
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

1 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$355K

$152 / participant

Recordkeeping$63K17.7%
Investment mgmt$31K8.8%
Legal$36K10.2%
Contract admin$125K35.2%
Other / not subdivided$100K28.1%

% of EOY assets

0.052%

all-in expense ratio

Categories reported

4 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: GERSON & ASSOC, CPAS AND ADVISORS
Auditor EIN: 223163246
Audit fees: $61,570
Opinion code: Unqualified

Look up a plan sponsor by EIN. Free Form 5500 search. No signup.

Metric

This plan

Peer set

Industry

Size

Avg account balance

$175,562

$241,101-27.2%

$103,333+69.9%

$199,593-12.0%

Participation rate

99.5%

78.3%+21.2pp

74.5%+25.0pp

72.0%+27.6pp

Annual return

9.91%

17.80%-7.9pp

24.88%-15.0pp

34.25%-24.3pp

Employer contribution / active EE

$12,460

$4,244+193.6%

$3,868+222.1%

$3,034+310.6%

Participant deferral / active EE

$3,958-100.0%

$5,057-100.0%

$5,087-100.0%

Admin fee / account holder

$91

$288-68.4%

$8,355-98.9%

$269-66.2%

Provider

Service type

Compensation

I.E. SHAFFER & CO.10+ years

Filed as: IE SHAFFER AND COMPANY

Service code 14 · EIN 22-1750854

830 BEAR TAVERN ROAD · WEST TRENTON, NJ 08628

Plan Administrator

$124,824

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE CO

Service code 64 · EIN 06-1050034

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$62,803

GERSON & ASSOC CPAS AND ADVISORS PC2 years

Filed as: GERSON & ASSOC, CPAS AND ADVISORS

Service code 10 · EIN 22-3163246

201 WEST PASSAIC STREET · ROCHELLE PARK, NJ 07662

Accounting

$61,570

MORGAN STANLEY SMITH BARNEY10+ years

Filed as: MORGAN STANLEY SMITH BARNEY LLC

Service code 27 · EIN 20-8764829

522 FIFTH AVENUE · NEW YORK, NY 10036

Advisory (Plan)

$31,364

ORANSKY SCARAGGI & BORG P.C.10+ years

Filed as: ORANSKY SCARAGGI AND BORG PC

Service code 29 · EIN 22-3522685

175 FAIRFIELD AVE · WEST CALDWELL, NJ 07006

Legal

$18,133

TIMOTHY R HOTT PC10+ years

Service code 29 · EIN 22-3724341

PO BOX 498 · CLIFFWOOD, NJ 07721

Legal

$18,087

IBEW LOCAL UNION NO 102 SURETY PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IBEW LOCAL UNION NO 102 SURETY 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