Retirement plan

I.B.E.W. LOCAL 540 SECURITY PLAN

Name: I.B.E.W. LOCAL NO. 540 SECURITY - I.B.E.W. LOCAL 540 SECURITY PLAN (2017) Form 5500
Creator: I.B.E.W. LOCAL NO. 540 SECURITY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, I.B.E.W. LOCAL 540 SECURITY PLAN, I.B.E.W. LOCAL NO. 540 SECURITY

I.B.E.W. LOCAL NO. 540 SECURITYEIN 34-0225473Plan #003PY 2017

33 FITCH BOULEVARD - AUSTINTOWN, OH 44515330-758-3456

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$41.1M

+20.4% from 2016

Total participants

599

+4.7% from 2016

Average account balance

$69,774

+15.1% from 2016

Annual return

18.21%

+11.60 pp from 2016

Benchmarks

See 1,124 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,124 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$89.68M

Not enough data

1 years with asset history on file

Average account balance

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

$93K

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.

963

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

$5.38M

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

+16.84%

Not enough data

1 years with return on file

Admin fee / account holder

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

$334

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 5 by compensation

Provider	Service type	Compensation
HUNTINGTON NATIONAL BANK1 year Service code 15	Recordkeeping	$105,649
UBS FINANCIAL SERVICES INC2 years Filed as: UBS FINANCIAL SERVICES INC. Service code 16 2055 CROCKER ROAD · WESTLAKE, OH 441452197	Consulting	$22,393
MACALA & PIATT, LLC3+ years Filed as: MACALA & PIATT Service code 29 · EIN 34-1933033	Legal	$11,092
BENESYS, INC.3+ years Filed as: BENESYS INC. Service code 13 · EIN 38-2383171	Contract Administrator	$10,790
YURCHYK & DAVIS CPA'S, INC.3+ years Filed as: YURCHYK & DAVIS CPA'S, INC Service code 10 · EIN 34-1638235	Accounting	$7,600

Plan features & details

Pension benefit codes2J2E2F2G

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.

Opportunity flags

2 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
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

$225K

$486 / participant

Investment mgmt$94K41.8%
Contract admin$22K9.8%
Other / not subdivided$109K48.4%

% of EOY assets

0.548%

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: YURCHYK & DAVIS CPA'S, INC.
Auditor EIN: 341638235
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$69,774

$60,545+15.2%

$92,240-24.4%

$69,631+0.2%

Participation rate

97.8%

72.2%+25.7pp

76.5%+21.4pp

70.7%+27.2pp

Annual return

18.21%

19.71%-1.5pp

176.29%-158.1pp

27571.02%-27552.8pp

Employer contribution / active EE

$5,738

$2,633+117.9%

$3,680+55.9%

$2,032+182.3%

Participant deferral / active EE

$701

$2,828-75.2%

$3,897-82.0%

$3,224-78.2%

Admin fee / account holder

$382

$145+164.2%

$5,194-92.6%

$110+246.3%

Provider

Service type

Compensation

HUNTINGTON NATIONAL BANK1 year

Service code 15

Recordkeeping

$105,649

UBS FINANCIAL SERVICES INC2 years

Filed as: UBS FINANCIAL SERVICES INC.

Service code 16

2055 CROCKER ROAD · WESTLAKE, OH 441452197

Consulting

$22,393

MACALA & PIATT, LLC3+ years

Filed as: MACALA & PIATT

Service code 29 · EIN 34-1933033

Legal

$11,092

BENESYS, INC.3+ years

Filed as: BENESYS INC.

Service code 13 · EIN 38-2383171

Contract Administrator

$10,790

YURCHYK & DAVIS CPA'S, INC.3+ years

Filed as: YURCHYK & DAVIS CPA'S, INC

Service code 10 · EIN 34-1638235

Accounting

$7,600

I.B.E.W. LOCAL 540 SECURITY PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

I.B.E.W. LOCAL 540 SECURITY 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