Retirement plan

IBEW LOCAL UNION NO. 126 RETIREMENT PLAN

Name: TRUSTEES OF IBEW LOCAL UNION NO.126 RETIREMENT PLAN - IBEW LOCAL UNION NO. 126 RETIREMENT PLAN (2023) Form 5500
Creator: TRUSTEES OF IBEW LOCAL UNION NO.126 RETIREMENT PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IBEW LOCAL UNION NO. 126 RETIREMENT PLAN, TRUSTEES OF IBEW LOCAL UNION NO.126 RETIREMENT PLAN

TRUSTEES OF IBEW LOCAL UNION NO.126 RETIREMENT PLANEIN 23-2156093Plan #001PY 2023

3455 GERMANTOWN PIKE - COLLEGEVILLE, PA 194261503610-489-1185

Prospect flagsLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$730.1M

-16.6% from 2017

Total participants

6,319

+0.2% from 2017

Average account balance

$115,536

-16.7% from 2017

Annual return

12.82%

-13.06 pp from 2017

Benchmarks

See 531 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort531 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.05B

Not enough data

1 years with asset history on file

Average account balance

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

$156K

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.

6,762

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$88.65M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+14.46%

Not enough data

1 years with return on file

Admin fee / account holder

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

$175

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
TRANSAMERICA RETIREMENT SOLUTIONS8+ years Service code 12 · EIN 13-3689044	Float revenue; Distribution (12b-1) f...	$685,412
IBEW LOCAL UNION NO. 1268+ years Service code 14 · EIN 23-1302203	Plan Administrator	$167,531
NOVAK FRANCELLA LLC8+ years Filed as: NOVAK FRANCELLA, LLC Service code 10 · EIN 61-1436956	Accounting	$27,618
FOX ROTHSCHILD LLP1 year Filed as: FOX ROTHSCHILD, LLP Service code 29 · EIN 23-1404723	Legal	$26,439
UBS FINANCIAL SERVICES INC8+ years Filed as: UBS FINANCIAL SERVICES Service code 19 · EIN 13-2638166	Securities Custodian	$20,000
BRIDGEWAY BENEFIT TECHNOLOGIES1 year Service code 15 · EIN 52-1796473	Recordkeeping	$18,791
CLEARY, JOSEM & TRIGIANI LLP4 years Filed as: CLEARY , JOSEM & TRIGIANI LLP Service code 29 · EIN 23-2657967	Legal	$10,649
PRINCIPAL LIFE INSURANCE COMPANY1 year Filed as: PRINCIPAL Service code 19 · EIN 42-0127290	Securities Custodian	$6,891
NATIONAL FINANCIAL SERVICES8+ years Service code 33 · EIN 04-3523567	Securities brokerage commissions and ...	$0

Plan features & details

Pension benefit codes2C2G2J2T

Plan features

2C
Money purchase plan
Money purchase pension plan other than a target benefit 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.
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.
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

2 tripped

OpportunityLow participant contribution
Participant contribution per participant 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

$1.0M

$290 / participant

Investment mgmt$705K70.2%
Other / not subdivided$299K29.8%

% of EOY assets

0.138%

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: NOVAK FRANCELLA, LLC
Auditor EIN: 611436956
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$115,536

$88,479+30.6%

$96,543+19.7%

$80,187+44.1%

Participation rate

100.0%

79.9%+20.1pp

74.3%+25.7pp

72.9%+27.1pp

Annual return

12.82%

22.53%-9.7pp

35.75%-22.9pp

40.40%-27.6pp

Employer contribution / active EE

$20,864

$4,177+399.5%

$3,741+457.8%

$2,980+600.2%

Participant deferral / active EE

$417

$3,961-89.5%

$4,880-91.5%

$5,016-91.7%

Admin fee / account holder

$159

$211-24.8%

$6,737-97.6%

$145+9.6%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS8+ years

Service code 12 · EIN 13-3689044

Float revenue; Distribution (12b-1) f...

$685,412

IBEW LOCAL UNION NO. 1268+ years

Service code 14 · EIN 23-1302203

Plan Administrator

$167,531

NOVAK FRANCELLA LLC8+ years

Filed as: NOVAK FRANCELLA, LLC

Service code 10 · EIN 61-1436956

Accounting

$27,618

FOX ROTHSCHILD LLP1 year

Filed as: FOX ROTHSCHILD, LLP

Service code 29 · EIN 23-1404723

Legal

$26,439

UBS FINANCIAL SERVICES INC8+ years

Filed as: UBS FINANCIAL SERVICES

Service code 19 · EIN 13-2638166

Securities Custodian

$20,000

BRIDGEWAY BENEFIT TECHNOLOGIES1 year

Service code 15 · EIN 52-1796473

Recordkeeping

$18,791

CLEARY, JOSEM & TRIGIANI LLP4 years

Filed as: CLEARY , JOSEM & TRIGIANI LLP

Service code 29 · EIN 23-2657967

Legal

$10,649

PRINCIPAL LIFE INSURANCE COMPANY1 year

Filed as: PRINCIPAL

Service code 19 · EIN 42-0127290

Securities Custodian

$6,891

NATIONAL FINANCIAL SERVICES8+ years

Service code 33 · EIN 04-3523567

Securities brokerage commissions and ...

IBEW LOCAL UNION NO. 126 RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IBEW LOCAL UNION NO. 126 RETIREMENT 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