Retirement plan

IBEW LOCAL UNION NO. 60 401(K) PLAN

Name: IBEW LOCAL UNION NO. 60 - IBEW LOCAL UNION NO. 60 401(K) PLAN (2020) Form 5500
Creator: IBEW LOCAL UNION NO. 60
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

IBEW LOCAL UNION NO. 60EIN 31-6632806Plan #001PY 2020

3518 N LOOP 1604 E - SAN ANTONIO, TX 78247210-337-1741

Prospect flagsLow assets / participantLow participant contribution

How to read this page

Total assets (EOY)

$35.1M

+25.4% from 2019

Total participants

1,991

+7.6% from 2019

Average account balance

$17,645

+16.6% from 2019

Annual return

14.71%

-8.91 pp from 2019

Benchmarks

See 458 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort458 peers

Snapshot2020

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

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Service providers

Top 6 by compensation

Provider	Service type	Compensation
PRUDENTIAL RETIREMENT INSURANCE AND2 years Service code 13 · EIN 06-1050034	Contract Administrator	$88,900
UBS FINANCIAL SERVICES INC1 year Filed as: UBS FINANCIAL SERVICES, INC. Service code 27 · EIN 13-2638166	Advisory (Plan)	$47,862
HARPER & PEARSON COMPANY, P.C.1 year Filed as: HARPER & PEARSON COMPANY Service code 10 · EIN 74-1695589	Accounting	$41,200
ZENITH AMERICAN SOLUTIONS1 year Filed as: ZENITH AMERICAN SOLUTIONS, INC. Service code 10 · EIN 06-1050034	Accounting	$37,806
CONNER & WINTERS6+ years Service code 29 · EIN 73-1388566	Legal	$24,697
IBEW LOCAL 60 PENSION2 years Service code 10 · EIN 31-6632806	Accounting	$13,703

Plan features & details

Pension benefit codes2E2J2F2G2T

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

$262K

$132 / participant

Investment mgmt$48K18.3%
Contract admin$134K51.3%
Other / not subdivided$80K30.4%

% of EOY assets

0.746%

all-in expense ratio

Categories reported

2 / 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: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$17,645

$81,719-78.4%

$101,275-82.6%

$90,274-80.5%

Participation rate

100.0%

80.7%+19.3pp

75.8%+24.2pp

73.4%+26.6pp

Annual return

14.71%

337.64%-322.9pp

46.48%-31.8pp

53.97%-39.3pp

Employer contribution / active EE

$2,021

$3,622-44.2%

$3,660-44.8%

$2,523-19.9%

Participant deferral / active EE

$780

$3,310-76.4%

$4,371-82.2%

$4,231-81.6%

Admin fee / account holder

$132

$162-18.7%

$5,948-97.8%

$114+15.3%

Provider

Service type

Compensation

PRUDENTIAL RETIREMENT INSURANCE AND2 years

Service code 13 · EIN 06-1050034

Contract Administrator

$88,900

UBS FINANCIAL SERVICES INC1 year

Filed as: UBS FINANCIAL SERVICES, INC.

Service code 27 · EIN 13-2638166

Advisory (Plan)

$47,862

HARPER & PEARSON COMPANY, P.C.1 year

Filed as: HARPER & PEARSON COMPANY

Service code 10 · EIN 74-1695589

Accounting

$41,200

ZENITH AMERICAN SOLUTIONS1 year

Filed as: ZENITH AMERICAN SOLUTIONS, INC.

Service code 10 · EIN 06-1050034

Accounting

$37,806

CONNER & WINTERS6+ years

Service code 29 · EIN 73-1388566

Legal

$24,697

IBEW LOCAL 60 PENSION2 years

Service code 10 · EIN 31-6632806

Accounting

$13,703

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