Retirement plan

INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL UNION 98 - PROFIT SHARING PLAN

Name: LOCAL UNION 98 I.B.E.W. - TRUSTEES PROFIT SHARING PLAN - INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL UNION 98 - PROFIT SHARING PLAN (2020) Form 5500
Creator: LOCAL UNION 98 I.B.E.W. - TRUSTEES PROFIT SHARING PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL UNION 98 - PROFIT SHARING PLAN, LOCAL UNION 98 I.B.E.W. - TRUSTEES PROFIT SHARING PLAN

LOCAL UNION 98 I.B.E.W. - TRUSTEES PROFIT SHARING PLANEIN 23-2289872Plan #002PY 2020

1719 SPRING GARDEN STREET - PHILADELPHIA, PA 191303915215-563-5592

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$1009.5M

-8.4% from 2016

Total participants

4,609

-2.7% from 2016

Average account balance

$219,018

No prior year

Annual return

13.50%

+6.74 pp from 2016

Benchmarks

See 458 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort458 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.26B

Not enough data

1 years with asset history on file

Average account balance

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

$272K

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.

4,631

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

$68.49M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$18K

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

+12.92%

Not enough data

1 years with return on file

Admin fee / account holder

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

$159

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 6 by compensation

Provider	Service type	Compensation
PRUDENTIAL RETIREMENT INSURANCE AND4 years Filed as: PRUDENTIAL RETIREMENT INS & ANN CO Service code 13 · EIN 06-1050034	Contract Administrator	$226,669
CLEARY, JOSEM & TRIGIANI LLP4 years Service code 29 · EIN 23-2657967	Legal	$92,066
FRANK M. VACCARO & ASSOCIATES6+ years Service code 13 · EIN 23-2148108	Contract Administrator	$89,557
NOVAK FRANCELLA LLC6+ years Service code 10 · EIN 61-1436956	Accounting	$59,855
THE SEGAL COMPANY3 years Filed as: SEGAL MARCO ADVISORS Service code 27 · EIN 13-2646110	Advisory (Plan)	$51,146
IBEW LOCAL 984 years Service code 29 · EIN 23-3094530	Legal	$17,236

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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$605K

$155 / participant

Investment mgmt$279K46.2%
Contract admin$77K12.8%
Other / not subdivided$248K41.1%

% of EOY assets

0.060%

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$219,018

$81,719+168.0%

$101,275+116.3%

$90,274+142.6%

Participation rate

100.0%

80.7%+19.3pp

75.8%+24.2pp

73.4%+26.6pp

Annual return

13.50%

337.64%-324.1pp

46.46%-33.0pp

53.97%-40.5pp

Employer contribution / active EE

$12,943

$3,622+257.3%

$3,660+253.6%

$2,523+412.9%

Participant deferral / active EE

$3,310-100.0%

$4,370-100.0%

$4,231-100.0%

Admin fee / account holder

$131

$162-19.0%

$5,948-97.8%

$114+15.0%

Provider

Service type

Compensation

PRUDENTIAL RETIREMENT INSURANCE AND4 years

Filed as: PRUDENTIAL RETIREMENT INS & ANN CO

Service code 13 · EIN 06-1050034

Contract Administrator

$226,669

CLEARY, JOSEM & TRIGIANI LLP4 years

Service code 29 · EIN 23-2657967

Legal

$92,066

FRANK M. VACCARO & ASSOCIATES6+ years

Service code 13 · EIN 23-2148108

Contract Administrator

$89,557

NOVAK FRANCELLA LLC6+ years

Service code 10 · EIN 61-1436956

Accounting

$59,855

THE SEGAL COMPANY3 years

Filed as: SEGAL MARCO ADVISORS

Service code 27 · EIN 13-2646110

Advisory (Plan)

$51,146

IBEW LOCAL 984 years

Service code 29 · EIN 23-3094530

Legal

$17,236

INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL UNION 98 - PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL UNION 98 - PROFIT SHARING 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