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 (2023) 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 2023

2 GATEWAY CENTER, 603 STANWIX ST., STE. 1500 - PITTSBURGH, PA 152221024397-264-2058

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$10.9M

+12.0% from 2022

Total participants

179

-2.7% from 2022

Average account balance

$61,031

+15.2% from 2022

Annual return

13.70%

+26.30 pp from 2022

Benchmarks

See 3,251 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort3,251 peers

Snapshot2023

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 3 by compensation

Provider	Service type	Compensation
ZENITH AMERICAN SOLUTIONS6 years Filed as: ZENITH AMERICAN SOLUTIONS, INC. Service code 12 · EIN 52-1590516	Claims processing; Direct payment fro...	$43,776
CLARK, SCHAEFER, HACKETT & CO.1 year Service code 10 · EIN 31-0800053	Accounting	$14,700
ASCENSUS LLC1 year Filed as: LEDBETTER PARISI, LLC Service code 29 · EIN 03-0599899	Legal	$8,974

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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$82K

$525 / participant

Investment mgmt$6K7.3%
Contract admin$44K53.4%
Other / not subdivided$32K39.3%

% of EOY assets

0.750%

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

$61,031

$76,696-20.4%

$96,538-36.8%

$71,529-14.7%

Participation rate

100.0%

66.6%+33.4pp

74.3%+25.7pp

67.9%+32.1pp

Annual return

13.70%

48.32%-34.6pp

35.74%-22.0pp

28.97%-15.3pp

Employer contribution / active EE

$3,032-100.0%

$3,740-100.0%

$2,590-100.0%

Participant deferral / active EE

$3,777

$3,770+0.2%

$4,880-22.6%

$4,291-12.0%

Admin fee / account holder

$458

$2,030-77.4%

$6,737-93.2%

$1,588-71.2%

Provider

Service type

Compensation

ZENITH AMERICAN SOLUTIONS6 years

Filed as: ZENITH AMERICAN SOLUTIONS, INC.

Service code 12 · EIN 52-1590516

Claims processing; Direct payment fro...

$43,776

CLARK, SCHAEFER, HACKETT & CO.1 year

Service code 10 · EIN 31-0800053

Accounting

$14,700

ASCENSUS LLC1 year

Filed as: LEDBETTER PARISI, LLC

Service code 29 · EIN 03-0599899

Legal

$8,974

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