Retirement plan

IBEW LOCAL 56 EMPLOYEES DEFERRED SAVINGS PLAN

Name: INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL 56 - IBEW LOCAL 56 EMPLOYEES DEFERRED SAVINGS PLAN (2019) Form 5500
Creator: INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL 56
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IBEW LOCAL 56 EMPLOYEES DEFERRED SAVINGS PLAN, INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL 56

INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL 56EIN 25-1409929Plan #002PY 2019

PO BOX 3326 - ERIE, PA 16508814-240-3730

Prospect flagsLow returns

How to read this page

Total assets (EOY)

$31.2M

-3.6% from 2018

Total participants

295

+4.2% from 2018

Average account balance

$109,577

-8.0% from 2018

Annual return

0.74%

-11.71 pp from 2018

Benchmarks

See 2,830 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort2,830 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$53.52M

Not enough data

1 years with asset history on file

Average account balance

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

$147K

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.

365

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

$2.08M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+8.30%

Not enough data

1 years with return on file

Admin fee / account holder

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

$308

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 3 by compensation

Provider	Service type	Compensation
IBEW LOCAL 56 HEALTH AND WELFARE4+ years Service code 15 · EIN 25-1158956 PO BOX 3326 · ERIE, PA 16508	Recordkeeping	$18,005
ANDCO CONSULTING3 years Service code 27 · EIN 59-3676225 4901 VINELAND RD SUITE 600 · ORLANDO, FL 32811	Advisory (Plan)	$17,500
THE VANGUARD GROUP, INC.4+ years Filed as: VANGUARD Service code 28 · EIN 23-1945930 PO BOX 2900 · VALLEY FORGE, PA 194822900	Investment Management	$15,574

Plan features & details

Pension benefit codes2E2G

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.

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

$77K

$335 / participant

Investment mgmt$16K20.2%
Other / not subdivided$62K79.8%

% of EOY assets

0.247%

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: FELIX AND GLOEKLER, PC
Auditor EIN: 260001555
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$109,577

$63,114+73.6%

$92,915+17.9%

$65,186+68.1%

Participation rate

95.7%

68.8%+26.9pp

76.0%+19.6pp

70.2%+25.5pp

Annual return

0.74%

28.75%-28.0pp

109.45%-108.7pp

29.39%-28.6pp

Employer contribution / active EE

$6,371

$2,571+147.8%

$3,653+74.4%

$2,177+192.7%

Participant deferral / active EE

$3,108-100.0%

$4,238-100.0%

$3,514-100.0%

Admin fee / account holder

$271

$624-56.6%

$5,796-95.3%

$847-68.1%

Provider

Service type

Compensation

IBEW LOCAL 56 HEALTH AND WELFARE4+ years

Service code 15 · EIN 25-1158956

PO BOX 3326 · ERIE, PA 16508

Recordkeeping

$18,005

ANDCO CONSULTING3 years

Service code 27 · EIN 59-3676225

4901 VINELAND RD SUITE 600 · ORLANDO, FL 32811

Advisory (Plan)

$17,500

THE VANGUARD GROUP, INC.4+ years

Filed as: VANGUARD

Service code 28 · EIN 23-1945930

PO BOX 2900 · VALLEY FORGE, PA 194822900

Investment Management

$15,574

IBEW LOCAL 56 EMPLOYEES DEFERRED SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IBEW LOCAL 56 EMPLOYEES DEFERRED SAVINGS 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