Retirement plan

I.B.E.W. LOCAL UNION # 654 DEFINED CONTRIBUTION PLAN

Name: IBEW LU # 654 PENSION FUND TRUSTEES - I.B.E.W. LOCAL UNION # 654 DEFINED CONTRIBUTION PLAN (2021) Form 5500
Creator: IBEW LU # 654 PENSION FUND TRUSTEES
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, I.B.E.W. LOCAL UNION # 654 DEFINED CONTRIBUTION PLAN, IBEW LU # 654 PENSION FUND TRUSTEES

IBEW LU # 654 PENSION FUND TRUSTEESEIN 23-6538183Plan #002PY 2021

27 ROLAND AVENUE - MOUNT LAUREL, NJ 080541038856-773-0868LinkedIn501-1000 employeesconstruction

Other plans on this EIN

1 filing

#001Retirement-$135.8M assets

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$135.3M

-8.4% from 2016

Total participants

652

-0.2% from 2016

Average account balance

$207,548

-8.2% from 2016

Annual return

11.44%

-7.92 pp from 2016

Benchmarks

See 1,300 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,300 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$157.19M

Not enough data

1 years with asset history on file

Average account balance

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

$256K

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.

614

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

$8.62M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$22K

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

+12.37%

Not enough data

1 years with return on file

Admin fee / account holder

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

$355

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 5 by compensation

Provider	Service type	Compensation
PRUDENTIAL RETIREMENT INSURANCE AND7+ years Service code 14 · EIN 06-1050034	Plan Administrator	$117,421
FRANK M. VACCARO & ASSOCIATES7+ years Filed as: FRANK M VACCARO & ASSOCIATES Service code 13 · EIN 23-2148100	Contract Administrator	$33,274
MORGAN STANLEY SMITH BARNEY1 year Filed as: GRAYSTONE CONSULTING Service code 27 · EIN 20-8764829	Advisory (Plan)	$19,500
NOVAK FRANCELLA LLC7+ years Service code 10 · EIN 61-1436956	Accounting	$18,037
THE SEGAL COMPANY5 years Filed as: SEGAL MARCO ADVISORS Service code 27 · EIN 12-2646110	Advisory (Plan)	$6,375

Plan features & details

Pension benefit codes2C2G

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.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$222K

$508 / participant

Investment mgmt$143K64.6%
Contract admin$33K15.0%
Other / not subdivided$45K20.4%

% of EOY assets

0.164%

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

$207,548

$78,275+165.2%

$109,191+90.1%

$86,828+139.0%

Participation rate

100.0%

73.8%+26.2pp

75.9%+24.1pp

72.3%+27.7pp

Annual return

11.44%

19.14%-7.7pp

25.76%-14.3pp

97.95%-86.5pp

Employer contribution / active EE

$16,618

$3,105+435.2%

$3,723+346.4%

$2,406+590.6%

Participant deferral / active EE

$3,641-100.0%

$4,653-100.0%

$4,132-100.0%

Admin fee / account holder

$340

$198+71.5%

$6,756-95.0%

$170+100.7%

Provider

Service type

Compensation

PRUDENTIAL RETIREMENT INSURANCE AND7+ years

Service code 14 · EIN 06-1050034

Plan Administrator

$117,421

FRANK M. VACCARO & ASSOCIATES7+ years

Filed as: FRANK M VACCARO & ASSOCIATES

Service code 13 · EIN 23-2148100

Contract Administrator

$33,274

MORGAN STANLEY SMITH BARNEY1 year

Filed as: GRAYSTONE CONSULTING

Service code 27 · EIN 20-8764829

Advisory (Plan)

$19,500

NOVAK FRANCELLA LLC7+ years

Service code 10 · EIN 61-1436956

Accounting

$18,037

THE SEGAL COMPANY5 years

Filed as: SEGAL MARCO ADVISORS

Service code 27 · EIN 12-2646110

Advisory (Plan)

$6,375

I.B.E.W. LOCAL UNION # 654 DEFINED CONTRIBUTION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

I.B.E.W. LOCAL UNION # 654 DEFINED CONTRIBUTION 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