Retirement plan

IBEW LOCAL #972 PENSION PLAN AND TRUST

Name: JOINT BOARD OF TRUSTEES OF THE IBEW LOCAL 972 PENSION FUND - IBEW LOCAL #972 PENSION PLAN AND TRUST (2024) Form 5500
Creator: JOINT BOARD OF TRUSTEES OF THE IBEW LOCAL 972 PENSION FUND
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IBEW LOCAL #972 PENSION PLAN AND TRUST, JOINT BOARD OF TRUSTEES OF THE IBEW LOCAL 972 PENSION FUND

JOINT BOARD OF TRUSTEES OF THE IBEW LOCAL 972 PENSION FUNDEIN 31-0964117Plan #001PY 2024

50 SANDHILL ROAD - RENO, OH 45773740-373-5054

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$89.8M

+9.0% from 2023

Total participants

658

+0.8% from 2023

Average account balance

$232,655

+7.6% from 2023

Annual return

13.70%

-4.28 pp from 2023

Benchmarks

See 1,547 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,547 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$89.80M

Not enough data

1 years with asset history on file

Average account balance

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

$233K

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.

386

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.

54.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.42M

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

+13.70%

Not enough data

1 years with return on file

Admin fee / account holder

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

$660

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 8 by compensation

Provider	Service type	Compensation
CHARLES SCHWAB & CO., INC.6 years Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC Service code 15 · EIN 34-1479833	Recordkeeping	$81,444
ATLANTA CAPITAL MANAGEMENT2 years Filed as: ATLANTA CONSULTING GROUP Service code 28 · EIN 59-1237041	Investment Management	$51,406
GRAY, GRAY & GRAY3 years Filed as: GRAY GRIFFITH AND MAYS AC Service code 10 · EIN 55-0621482	Accounting	$38,841
WHP6 years Service code 29 · EIN 34-1205692	Legal	$25,775
AMERICAN REALTY ADVISORS7 years Filed as: AMERICAN BENEFIT CORPORATION Service code 28 · EIN 55-0672859	Investment Management	$23,198
RAYMOND JAMES FINANCIAL SERVICES1 year Filed as: RAYMOND JAMES & ASSOCIATES, INC Service code 28 · EIN 59-1237041	Investment Management	$17,242
RUBLE, ROBERT T9 years Service code 28 · EIN 42-1558009	Investment Management	$7,686
HARRIS, HARDIN & COMPANY, A.C.3 years Filed as: HARRIS HARDIN AND COMPANY AC Service code 10 · EIN 55-0756523	Accounting	$5,195

Plan features & details

Pension benefit codes2C2G2F2T

Plan features

2C
Money purchase plan
Money purchase pension plan other than a target benefit 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.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.

Opportunity flags

2 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.)

Expense breakdown

Schedule H Part II

Admin total

$255K

$427 / participant

Recordkeeping$59K23.3%
Investment mgmt$91K35.6%
Legal$17K6.5%
Contract admin$40K15.7%
Other / not subdivided$48K18.8%

% of EOY assets

0.284%

all-in expense ratio

Categories reported

4 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: GRAY, GRIFFITH AND MAYS A.C
Auditor EIN: 550621482
Audit fees: $47,820
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$232,655

$129,227+80.0%

$184,256+26.3%

$77,762+199.2%

Participation rate

54.4%

87.4%-32.9pp

86.8%-32.4pp

70.6%-16.1pp

Annual return

13.70%

33.24%-19.5pp

28.85%-15.1pp

31.27%-17.6pp

Employer contribution / active EE

$5,737

$4,412+30.0%

$6,427-10.7%

$2,728+110.3%

Participant deferral / active EE

$7,307-100.0%

$9,133-100.0%

$4,651-100.0%

Admin fee / account holder

$660

$256+158.0%

$13,899-95.3%

$433+52.4%

Provider

Service type

Compensation

CHARLES SCHWAB & CO., INC.6 years

Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC

Service code 15 · EIN 34-1479833

Recordkeeping

$81,444

ATLANTA CAPITAL MANAGEMENT2 years

Filed as: ATLANTA CONSULTING GROUP

Service code 28 · EIN 59-1237041

Investment Management

$51,406

GRAY, GRAY & GRAY3 years

Filed as: GRAY GRIFFITH AND MAYS AC

Service code 10 · EIN 55-0621482

Accounting

$38,841

WHP6 years

Service code 29 · EIN 34-1205692

Legal

$25,775

AMERICAN REALTY ADVISORS7 years

Filed as: AMERICAN BENEFIT CORPORATION

Service code 28 · EIN 55-0672859

Investment Management

$23,198

RAYMOND JAMES FINANCIAL SERVICES1 year

Filed as: RAYMOND JAMES & ASSOCIATES, INC

Service code 28 · EIN 59-1237041

Investment Management

$17,242

RUBLE, ROBERT T9 years

Service code 28 · EIN 42-1558009

Investment Management

$7,686

HARRIS, HARDIN & COMPANY, A.C.3 years

Filed as: HARRIS HARDIN AND COMPANY AC

Service code 10 · EIN 55-0756523

Accounting

$5,195

IBEW LOCAL #972 PENSION PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IBEW LOCAL #972 PENSION PLAN AND TRUST

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