Retirement plan

IBEW LOCAL NO. 82 401 K PLAN

Name: IBEW LOCAL NO. 82 401 K PLAN ELECTRICAL WORKERS LOCAL NO. 82 - IBEW LOCAL NO. 82 401 K PLAN (2022) Form 5500
Creator: IBEW LOCAL NO. 82 401 K PLAN ELECTRICAL WORKERS LOCAL NO. 82
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IBEW LOCAL NO. 82 401 K PLAN, IBEW LOCAL NO. 82 401 K PLAN ELECTRICAL WORKERS LOCAL NO. 82

IBEW LOCAL NO. 82 401 K PLAN ELECTRICAL WORKERS LOCAL NO. 82EIN 31-0329975Plan #003PY 2022

THREE GATEWAY CENTER, 401 LIBERTY AVENUE, SUITE 1200 - PITTSBURGH, PA 152221024397-264-2058

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$9.8M

-15.8% from 2021

Total participants

184

+17.9% from 2021

Average account balance

$52,997

-31.4% from 2021

Annual return

-12.59%

-43.99 pp from 2021

Benchmarks

See 2,998 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort2,998 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$12.57M

Not enough data

1 years with asset history on file

Average account balance

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

$67K

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.

188

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

$846K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+11.38%

Not enough data

1 years with return on file

Admin fee / account holder

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

$436

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 2 by compensation

Provider	Service type	Compensation
ZENITH AMERICAN SOLUTIONS5 years Filed as: ZENITH AMERICAN SOLUTIONS, INC. Service code 12 · EIN 52-1590516	Claims processing; Direct payment fro...	$42,504
CLARK, SCHAEFER, HACKETT & CO.5 years Filed as: CLARK, SCHAEFER, HACKETT& CO. Service code 10 · EIN 31-0800053	Accounting	$14,100

Plan features & details

Pension benefit codes2E2F2G2J

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.

Opportunity flags

2 tripped

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).

Expense breakdown

Schedule H Part II

Admin total

$76K

$664 / participant

Investment mgmt$6K7.9%
Contract admin$43K55.6%
Other / not subdivided$28K36.4%

% of EOY assets

0.783%

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: CLARK, SCHAEFER, HACKETT & CO.
Auditor EIN: 310800053
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$52,997

$64,176-17.4%

$112,263-52.8%

$66,949-20.8%

Participation rate

100.0%

68.4%+31.6pp

75.1%+24.9pp

69.8%+30.2pp

Annual return

-12.59%

-13.80%+1.2pp

27.49%-40.1pp

1.57%-14.2pp

Employer contribution / active EE

$3,007-100.0%

$3,636-100.0%

$2,545-100.0%

Participant deferral / active EE

$4,427

$3,694+19.8%

$4,729-6.4%

$4,239+4.4%

Admin fee / account holder

$415

$626-33.7%

$6,410-93.5%

$594-30.1%

Provider

Service type

Compensation

ZENITH AMERICAN SOLUTIONS5 years

Filed as: ZENITH AMERICAN SOLUTIONS, INC.

Service code 12 · EIN 52-1590516

Claims processing; Direct payment fro...

$42,504

CLARK, SCHAEFER, HACKETT & CO.5 years

Filed as: CLARK, SCHAEFER, HACKETT& CO.

Service code 10 · EIN 31-0800053

Accounting

$14,100

IBEW LOCAL NO. 82 401 K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IBEW LOCAL NO. 82 401 K 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