Retirement plan

IBEW LOCAL UNION 668 EMPLOYEES PENSION PLAN

Name: IBEW LOCAL UNION 668 - IBEW LOCAL UNION 668 EMPLOYEES PENSION PLAN (2023) Form 5500
Creator: IBEW LOCAL UNION 668
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IBEW LOCAL UNION 668 EMPLOYEES PENSION PLAN, IBEW LOCAL UNION 668

IBEW LOCAL UNION 668EIN 31-1252733Plan #002PY 2023

2535 S 30TH ST., SUITE ONE - LAFAYETTE, IN 479052786765-474-1021LinkedIn201-500 employeesconstruction

Prospect flagsLow returns

How to read this page

Total assets (EOY)

$69M

+0.6% from 2022

Total participants

1,163

+99.5% from 2022

Average account balance

$64,989

-49.9% from 2022

Annual return

1.49%

+7.85 pp from 2022

Benchmarks

See 531 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort531 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$96.01M

Not enough data

1 years with asset history on file

Average account balance

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

$74K

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.

1,292

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.

97.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.16M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+12.27%

Not enough data

1 years with return on file

Admin fee / account holder

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

$146

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

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Service providers

Top 6 by compensation

Provider	Service type	Compensation
JOHN HANCOCK LIFE INSURANCE COMPANY2 years Filed as: JOHN HANCOCK RETIREMENT SERVICES Service code 19 · EIN 01-0233346	Securities Custodian	$79,802
HEALTHSCOPE BENEFITS2 years Service code 14 · EIN 71-0847266	Plan Administrator	$23,400
ANDCO CONSULTING2 years Filed as: ANDCO CONSULTING, LLC Service code 28 · EIN 59-3676225	Investment Management	$17,500
L.M. HENDERSON & COMPANY, LLP1 year Filed as: L.M. HENDERSON AND COMPANY, LLP Service code 10 · EIN 20-5520612	Accounting	$13,750
JOHNSON & KROL, LLC2 years Service code 29 · EIN 36-4342024	Legal	$11,708
THOMPSON HINE1 year Filed as: THE THOMPSON GROUP Service code 23 · EIN 26-3554645	Insurance services; Direct payment fr...	$9,113

Plan features & details

Pension benefit codes2A2C2F2G2T

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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

1 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$163K

$140 / participant

Contract admin$163K100.0%

% of EOY assets

0.236%

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: L.M. HENDERSON & COMPANY, LLP
Auditor EIN: 205520612
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$64,989

$88,479-26.5%

$96,515-32.7%

$80,157-18.9%

Participation rate

91.2%

79.9%+11.3pp

74.3%+16.9pp

72.9%+18.3pp

Annual return

1.49%

22.53%-21.0pp

35.73%-34.2pp

40.39%-38.9pp

Employer contribution / active EE

$3,927

$4,177-6.0%

$3,740+5.0%

$2,977+31.9%

Participant deferral / active EE

$3,961-100.0%

$4,880-100.0%

$5,015-100.0%

Admin fee / account holder

$153

$211-27.5%

$6,735-97.7%

$145+5.7%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY2 years

Filed as: JOHN HANCOCK RETIREMENT SERVICES

Service code 19 · EIN 01-0233346

Securities Custodian

$79,802

HEALTHSCOPE BENEFITS2 years

Service code 14 · EIN 71-0847266

Plan Administrator

$23,400

ANDCO CONSULTING2 years

Filed as: ANDCO CONSULTING, LLC

Service code 28 · EIN 59-3676225

Investment Management

$17,500

L.M. HENDERSON & COMPANY, LLP1 year

Filed as: L.M. HENDERSON AND COMPANY, LLP

Service code 10 · EIN 20-5520612

Accounting

$13,750

JOHNSON & KROL, LLC2 years

Service code 29 · EIN 36-4342024

Legal

$11,708

THOMPSON HINE1 year

Filed as: THE THOMPSON GROUP

Service code 23 · EIN 26-3554645

Insurance services; Direct payment fr...

$9,113

IBEW LOCAL UNION 668 EMPLOYEES PENSION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IBEW LOCAL UNION 668 EMPLOYEES PENSION 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