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 (2018) 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 2018

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

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$39.6M

-3.7% from 2017

Total participants

635

+6.0% from 2017

Average account balance

$63,842

-8.5% from 2017

Annual return

-5.59%

-23.80 pp from 2017

Benchmarks

See 1,182 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,182 peers

Snapshot2018

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

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

Service providers

Top 5 by compensation

Provider	Service type	Compensation
HUNTINGTON NATIONAL BANK2 years Service code 15	Recordkeeping	$115,953
UBS FINANCIAL SERVICES INC3 years Filed as: UBS FINANCIAL SERVICES INC. Service code 16 2055 CROCKER ROAD · WESTLAKE, OH 441452197	Consulting	$32,725
MACALA & PIATT, LLC4+ years Filed as: MACALA & PIATT Service code 29 · EIN 34-1933033	Legal	$13,025
BENESYS, INC.4+ years Filed as: BENESYS INC. Service code 13 · EIN 38-2383171	Contract Administrator	$12,499
YURCHYK & DAVIS CPA'S, INC.4+ years Filed as: YURCHYK & DAVIS CPA'S, INC Service code 10 · EIN 34-1638235	Accounting	$7,900

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

$241K

$487 / participant

Investment mgmt$104K42.9%
Contract admin$23K9.6%
Other / not subdivided$115K47.5%

% of EOY assets

0.610%

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

$63,842

$56,443+13.1%

$83,831-23.8%

$55,725+14.6%

Participation rate

97.0%

72.0%+24.9pp

76.1%+20.8pp

70.9%+26.1pp

Annual return

-5.59%

393.67%-399.3pp

850.99%-856.6pp

244.93%-250.5pp

Employer contribution / active EE

$5,350

$2,682+99.5%

$3,631+47.3%

$2,078+157.5%

Participant deferral / active EE

$730

$2,965-75.4%

$4,082-82.1%

$3,356-78.3%

Admin fee / account holder

$389

$156+149.1%

$5,479-92.9%

$115+237.9%

Provider

Service type

Compensation

HUNTINGTON NATIONAL BANK2 years

Service code 15

Recordkeeping

$115,953

UBS FINANCIAL SERVICES INC3 years

Filed as: UBS FINANCIAL SERVICES INC.

Service code 16

2055 CROCKER ROAD · WESTLAKE, OH 441452197

Consulting

$32,725

MACALA & PIATT, LLC4+ years

Filed as: MACALA & PIATT

Service code 29 · EIN 34-1933033

Legal

$13,025

BENESYS, INC.4+ years

Filed as: BENESYS INC.

Service code 13 · EIN 38-2383171

Contract Administrator

$12,499

YURCHYK & DAVIS CPA'S, INC.4+ years

Filed as: YURCHYK & DAVIS CPA'S, INC

Service code 10 · EIN 34-1638235

Accounting

$7,900

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