Retirement plan

IBEW LOCAL UNION 306 401 (K) WAGE REDUCTION RETIREMENT FUND

Name: IBEW LOCAL UNION 306 401 (K) WAGE REDUCTION RETIREMENT FUND TRUSTEES - IBEW LOCAL UNION 306 401 (K) WAGE REDUCTION RETIREMENT FUND (2023) Form 5500
Creator: IBEW LOCAL UNION 306 401 (K) WAGE REDUCTION RETIREMENT FUND TRUSTEES
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IBEW LOCAL UNION 306 401 (K) WAGE REDUCTION RETIREMENT FUND, IBEW LOCAL UNION 306 401 (K) WAGE REDUCTION RETIREMENT FUND TRUSTEES

IBEW LOCAL UNION 306 401 (K) WAGE REDUCTION RETIREMENT FUND TRUSTEESEIN 31-1516748Plan #002PY 2023

3660 STUTZ DRIVE, SUITE 101 - CANFIELD, OH 44406330-270-0453

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$30.1M

+13.0% from 2022

Total participants

419

-69.8% from 2022

Average account balance

$71,807

+13.2% from 2022

Annual return

17.32%

+31.60 pp from 2022

Benchmarks

See 1,502 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,502 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$34.82M

Not enough data

1 years with asset history on file

Average account balance

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

$80K

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.

437

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

$1.46M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+15.55%

Not enough data

1 years with return on file

Admin fee / account holder

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

$283

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 5 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD RD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$26,026
YURCHYK & DAVIS CPA'S, INC.9+ years Filed as: YURCHYK & DAVIS CPA'S, INC Service code 10 · EIN 34-1638235	Accounting	$7,900
BENESYS, INC.9+ years Filed as: BENESYS Service code 14 3660 STUTZ DRIVE, STE 101 · CANFIELD, OH 44406	Plan Administrator	$7,435
RBC GLOBAL ASSET MANAGEMENT1 year Filed as: CITY PRINTING Service code 36 122 OAK HILL AVE · YOUNGSTOWN, OH 44502	Copying and duplicating	$5,889
ANDCO CONSULTING1 year Service code 16 531 W MORSE BLVD STE 200 · WINTER PARK, FL 32789	Consulting	$5,000

Plan features & details

Pension benefit codes2G2J2E2F2T

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.
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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$68K

$195 / participant

Recordkeeping$26K38.2%
Investment mgmt$5K7.3%
Legal$4K6.0%
Contract admin$7K10.9%
Other / not subdivided$26K37.6%

% of EOY assets

0.226%

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: YURCHYK & DAVIS CPA'S, INC.
Auditor EIN: 341638235
Audit fees: $7,900
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$71,807

$93,010-22.8%

$96,538-25.6%

$74,473-3.6%

Participation rate

100.0%

71.6%+28.4pp

74.3%+25.7pp

70.7%+29.3pp

Annual return

17.32%

37.50%-20.2pp

35.74%-18.4pp

34.36%-17.0pp

Employer contribution / active EE

$3,427-100.0%

$3,740-100.0%

$2,638-100.0%

Participant deferral / active EE

$3,879

$3,971-2.3%

$4,880-20.5%

$4,530-14.4%

Admin fee / account holder

$163

$633-74.3%

$6,737-97.6%

$347-53.2%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64

8515 EAST ORCHARD RD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$26,026

YURCHYK & DAVIS CPA'S, INC.9+ years

Filed as: YURCHYK & DAVIS CPA'S, INC

Service code 10 · EIN 34-1638235

Accounting

$7,900

BENESYS, INC.9+ years

Filed as: BENESYS

Service code 14

3660 STUTZ DRIVE, STE 101 · CANFIELD, OH 44406

Plan Administrator

$7,435

RBC GLOBAL ASSET MANAGEMENT1 year

Filed as: CITY PRINTING

Service code 36

122 OAK HILL AVE · YOUNGSTOWN, OH 44502

Copying and duplicating

$5,889

ANDCO CONSULTING1 year

Service code 16

531 W MORSE BLVD STE 200 · WINTER PARK, FL 32789

Consulting

$5,000

IBEW LOCAL UNION 306 401 (K) WAGE REDUCTION RETIREMENT FUND

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IBEW LOCAL UNION 306 401 (K) WAGE REDUCTION RETIREMENT FUND

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