Retirement plan

INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL UNIONS SAVINGS & SECURITY PLAN

Name: BOARD OF DIRECTORS OF THE IBEW LOCALS' SAVING & RETIREMENT GROUP TRUST - INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL UNIONS SAVINGS & SECURITY PLAN (2018) Form 5500
Creator: BOARD OF DIRECTORS OF THE IBEW LOCALS' SAVING & RETIREMENT GROUP TRUST
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL UNIONS SAVINGS & SECURITY PLAN, BOARD OF DIRECTORS OF THE IBEW LOCALS' SAVING & RETIREMENT GROUP TRUST

BOARD OF DIRECTORS OF THE IBEW LOCALS' SAVING & RETIREMENT GROUP TRUSTEIN 27-1722149Plan #023PY 2018

ONE BRIDGE STREET SUITE 70 - IRVINGTON, NY 10533914-591-9200

Other plans on this EIN

1 filing

#049Retirement-$77.8M assets

Prospect flagsHigh retiree %High feesLow participationFailed to transmit contributionsCorrective distributionsWind-down / frozen

How to read this page

Total assets (EOY)

$591.4M

-3.1% from 2016

Total participants

3,373

+3.2% from 2016

Average account balance

$186,926

-6.1% from 2016

Annual return

3.84%

+2.04 pp from 2016

Benchmarks

See 845 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants250-999

Cohort845 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$742.02M

Not enough data

1 years with asset history on file

Average account balance

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

$278K

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.

2,667

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

$3.23M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+16.29%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1324

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 10 of 11 by compensation

Provider	Service type	Compensation
PLANMEMBER SERVICES CORPORATION3 years Service code 12 · EIN 77-0309553	Contract Administrator; Other service...	$4,444,345
THE BANK OF NEW YORK MELLON1 year Filed as: STANDISH MELLON Service code 28 · EIN 52-1573723	Investment Management	$250,016
US BANK4+ years Service code 25 · EIN 41-6271370	Directed Trustee	$166,947
MILLIMAN, INC.1 year Filed as: MILLIMAN Service code 15 · EIN 91-0675641	Recordkeeping	$130,677
MATRIX TRUST COMPANY1 year Service code 19 · EIN 75-3182674	Securities Custodian	$85,196
XEROX CORPORATION4+ years Filed as: ACS Service code 15 · EIN 04-3609848	Recordkeeping	$72,260
CHUBB4+ years Filed as: CHUBB INSURANCE Service code 22 · EIN 13-5634315	Insurance Broker	$52,583
CROWE LLP2 years Service code 10 · EIN 35-0921680	Accounting	$50,500
LOWENSTEIN SANDLER LLP4+ years Filed as: LOWENSTEIN & SANDLER Service code 29 · EIN 22-2205010	Legal	$26,274
OFFICIAL OFFSET CORP.1 year Filed as: OFFICIAL OFFSET CORP Service code 49 · EIN 11-1844917	Other Services	$13,916

Plan features & details

Pension benefit codes2E2F2G2J2K2R3D

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.
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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

6 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.
InformationalWind-down / frozen
Plan appears closed to new enrollment or frozen - balance-holders far exceed active participants, or the plan reports active distributions with no inflows. Exclude from peer benchmarks.

Expense breakdown

Schedule H Part II

Admin total

$5.3M

$13078 / participant

Investment mgmt$250K4.7%
Contract admin$5M92.6%
Other / not subdivided$141K2.7%

% of EOY assets

0.896%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: CROWE LLP
Auditor EIN: 350921680
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$186,926

$43,999+324.8%

$79,472+135.2%

$55,727+235.4%

Participation rate

48.4%

66.9%-18.5pp

73.3%-25.0pp

70.9%-22.5pp

Annual return

3.84%

1.81%+2.0pp

718.32%-714.5pp

244.94%-241.1pp

Employer contribution / active EE

$5,126

$1,830+180.2%

$2,801+83.0%

$2,078+146.6%

Participant deferral / active EE

$4,738

$2,538+86.7%

$3,704+27.9%

$3,356+41.2%

Admin fee / account holder

$1,674

$118+1324.0%

$5,104-67.2%

$115+1353.4%

Provider

Service type

Compensation

PLANMEMBER SERVICES CORPORATION3 years

Service code 12 · EIN 77-0309553

Contract Administrator; Other service...

$4,444,345

THE BANK OF NEW YORK MELLON1 year

Filed as: STANDISH MELLON

Service code 28 · EIN 52-1573723

Investment Management

$250,016

US BANK4+ years

Service code 25 · EIN 41-6271370

Directed Trustee

$166,947

MILLIMAN, INC.1 year

Filed as: MILLIMAN

Service code 15 · EIN 91-0675641

Recordkeeping

$130,677

MATRIX TRUST COMPANY1 year

Service code 19 · EIN 75-3182674

Securities Custodian

$85,196

XEROX CORPORATION4+ years

Filed as: ACS

Service code 15 · EIN 04-3609848

Recordkeeping

$72,260

CHUBB4+ years

Filed as: CHUBB INSURANCE

Service code 22 · EIN 13-5634315

Insurance Broker

$52,583

CROWE LLP2 years

Service code 10 · EIN 35-0921680

Accounting

$50,500

LOWENSTEIN SANDLER LLP4+ years

Filed as: LOWENSTEIN & SANDLER

Service code 29 · EIN 22-2205010

Legal

$26,274

OFFICIAL OFFSET CORP.1 year

Filed as: OFFICIAL OFFSET CORP

Service code 49 · EIN 11-1844917

Other Services

$13,916

INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL UNIONS SAVINGS & SECURITY PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL UNIONS SAVINGS & SECURITY 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