Retirement plan

IBEW LOCAL UNION 503 MONEY PURCHASE PLAN

Name: IBEW LOCAL 503 - IBEW LOCAL UNION 503 MONEY PURCHASE PLAN (2020) Form 5500
Creator: IBEW LOCAL 503
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IBEW LOCAL UNION 503 MONEY PURCHASE PLAN, IBEW LOCAL 503

IBEW LOCAL 503EIN 23-7032908Plan #001PY 2020

2657 ROUTE 17M - GOSHEN, NY 10924845-294-1337ibew503.orgLinkedIn1-10 employees

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$738K

+19.3% from 2019

Total participants

0.0% from 2019

Average account balance

$246,142

+19.3% from 2019

Annual return

6.44%

+0.61 pp from 2019

Benchmarks

See 36,228 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort36,228 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$871K

Not enough data

1 years with asset history on file

Average account balance

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

$290K

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.

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

$93K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$31K

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

+11.54%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2629

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G3D

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.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$6K

$1987 / participant

Other / not subdivided$6K100.0%

% of EOY assets

0.807%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$246,142

$100,895+144.0%

$90,430+172.2%

$158,950+54.9%

Participation rate

100.0%

75.0%+25.0pp

72.7%+27.3pp

82.0%+18.0pp

Annual return

6.44%

1725.54%-1719.1pp

1293.73%-1287.3pp

302.91%-296.5pp

Employer contribution / active EE

$26,573

$3,689+620.4%

$3,262+714.6%

$4,762+458.0%

Participant deferral / active EE

$4,347-100.0%

$3,963-100.0%

$5,983-100.0%

Admin fee / account holder

$1,987

$6,505-69.5%

$5,613-64.6%

$11,248-82.3%

IBEW LOCAL UNION 503 MONEY PURCHASE PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IBEW LOCAL UNION 503 MONEY PURCHASE 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