Retirement plan

IBEW LOCAL UNION NO. 60 401(K) PLAN

Name: IBEW LOCAL UNION NO. 60 401(K) PLAN - IBEW LOCAL UNION NO. 60 401(K) PLAN (2024) Form 5500
Creator: IBEW LOCAL UNION NO. 60 401(K) PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IBEW LOCAL UNION NO. 60 401(K) PLAN, IBEW LOCAL UNION NO. 60 401(K) PLAN

IBEW LOCAL UNION NO. 60 401(K) PLANEIN 31-6632806Plan #001PY 2024

6121 INDIAN SCHOOL RD NE, SUITE 123 - ALBURQUERQUE, NM 87110505-359-3761

Prospect flagsLow assets / participantLow participant contribution

How to read this page

Total assets (EOY)

$73.2M

+27.5% from 2023

Total participants

4,544

+38.1% from 2023

Average account balance

$17,461

+0.1% from 2023

Annual return

14.16%

-3.13 pp from 2023

Benchmarks

See 560 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort560 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$73.20M

Not enough data

1 years with asset history on file

Average account balance

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

$17K

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.

4,192

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.

92.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$11.00M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+14.16%

Not enough data

1 years with return on file

Admin fee / account holder

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

$114

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 7 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 13 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Contract Administrator	$159,618
HARPER & PEARSON COMPANY, P.C.8 years Filed as: HARPER & PEARSON COMPANY PC Service code 10 ONE RIVERWAY DR STE 1900 · HOUSTON, TX 77056	Accounting	$89,609
UBS FINANCIAL SERVICES INC1 year Service code 27 PO BOX 198928 · NASHVILLE, TN 37238	Advisory (Plan)	$71,129
SOUTHWEST SERVICE ADMINISTRATORS1 year Filed as: SOUTHWEST SERVICE Service code 13 2550 W UNION HILLS DR, STE 290 · PHOENIX, AZ 85027	Contract Administrator	$42,273
CONNER & WINTERS10+ years Filed as: CONNER & WINTERS, LLP Service code 29 4000 ONE WILLIAMS CENTER · TULSA, OR 74172	Legal	$27,469
THE SEGAL COMPANY1 year Filed as: SEGAL SELECT INSURANCE INC Service code 99 PO BOX 21420 · NEW YORK, NY 10087	Other Fees	$9,068
LETTERSTREAM1 year Filed as: LETTERSTREAM INC Service code 13 8551 E ANDERSON DR STE 108 · SCOTTSDALE, AZ 85255	Contract Administrator	$8,263

Plan features & details

Pension benefit codes2E2F2G2J2T

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

2 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$479K

$107 / participant

Recordkeeping$123K25.7%
Investment mgmt$72K15.1%
Legal$29K6.2%
Contract admin$87K18.2%
Other / not subdivided$167K34.9%

% of EOY assets

0.655%

all-in expense ratio

Categories reported

4 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: HARPER AND PEARSON COMPANY PC
Auditor EIN: 741695589
Audit fees: $12,971
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$17,461

$241,850-92.8%

$102,437-83.0%

$200,096-91.3%

Participation rate

92.1%

78.3%+13.8pp

74.5%+17.6pp

72.0%+20.1pp

Annual return

14.16%

17.67%-3.5pp

24.95%-10.8pp

34.26%-20.1pp

Employer contribution / active EE

$1,750

$4,253-58.8%

$3,871-54.8%

$3,038-42.4%

Participant deferral / active EE

$716

$3,961-81.9%

$5,060-85.9%

$5,090-85.9%

Admin fee / account holder

$114

$288-60.3%

$8,388-98.6%

$269-57.6%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 13

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Contract Administrator

$159,618

HARPER & PEARSON COMPANY, P.C.8 years

Filed as: HARPER & PEARSON COMPANY PC

Service code 10

ONE RIVERWAY DR STE 1900 · HOUSTON, TX 77056

Accounting

$89,609

UBS FINANCIAL SERVICES INC1 year

Service code 27

PO BOX 198928 · NASHVILLE, TN 37238

Advisory (Plan)

$71,129

SOUTHWEST SERVICE ADMINISTRATORS1 year

Filed as: SOUTHWEST SERVICE

Service code 13

2550 W UNION HILLS DR, STE 290 · PHOENIX, AZ 85027

Contract Administrator

$42,273

CONNER & WINTERS10+ years

Filed as: CONNER & WINTERS, LLP

Service code 29

4000 ONE WILLIAMS CENTER · TULSA, OR 74172

Legal

$27,469

THE SEGAL COMPANY1 year

Filed as: SEGAL SELECT INSURANCE INC

Service code 99

PO BOX 21420 · NEW YORK, NY 10087

Other Fees

$9,068

LETTERSTREAM1 year

Filed as: LETTERSTREAM INC

Service code 13

8551 E ANDERSON DR STE 108 · SCOTTSDALE, AZ 85255

Contract Administrator

$8,263

IBEW LOCAL UNION NO. 60 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IBEW LOCAL UNION NO. 60 401(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