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 (2021) 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 2021

3660 STUTZ DRIVE, SUITE 101 - CANFIELD, OH 44406330-758-3456

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$74.3M

+20.7% from 2020

Total participants

777

+12.0% from 2020

Average account balance

$95,709

+7.8% from 2020

Annual return

17.22%

-2.13 pp from 2020

Benchmarks

See 1,300 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,300 peers

Snapshot2021

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 10 of 12 by compensation

Provider	Service type	Compensation
UBS FINANCIAL SERVICES INC6 years Filed as: UBS FINANCIAL SERVICES INC. Service code 16 2055 CROCKER ROAD · WESTLAKE, OH 441452197	Consulting	$61,573
MASSACHUSETTS MUTUAL LIFE INS. CO.1 year Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 52 · EIN 04-1590850	Indirect Investment Fees	$45,482
BENESYS, INC.7+ years Filed as: BENESYS INC. Service code 13 · EIN 38-2383171	Contract Administrator	$12,110
YURCHYK & DAVIS CPA'S, INC.7+ years Filed as: YURCHYK & DAVIS CPA'S, INC Service code 10 · EIN 34-1638235	Accounting	$8,500
MACALA & PIATT, LLC7+ years Filed as: MACALA & PIATT Service code 29 · EIN 34-1933033	Legal	$7,039
DIMENSIONAL FUND ADVISORS3 years Service code 52 · EIN 36-3129984	Indirect Investment Fees	$0
FIDELITY INVESTMENTS INSTITUTIONAL3 years Filed as: FIDELITY ADVISOR Service code 52 · EIN 06-1194217	Indirect Investment Fees	$0
FIDELITY INVESTMENTS INSTITUTIONAL3 years Filed as: FIDELITY INVESTMENTS Service code 52 · EIN 04-6026952	Indirect Investment Fees	$0
JANUS HENDERSON3 years Service code 52 · EIN 84-0592523	Indirect Investment Fees	$0
JOHN HANCOCK LIFE INSURANCE COMPANY2 years Filed as: JOHN HANCOCK Service code 52 · EIN 04-2528977	Indirect Investment Fees	$0

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

$287K

$384 / participant

Investment mgmt$1400.0%
Contract admin$57K20.0%
Other / not subdivided$229K79.9%

% of EOY assets

0.387%

all-in expense ratio

Categories reported

2 / 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: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$95,709

$78,275+22.3%

$109,163-12.3%

$86,813+10.2%

Participation rate

99.9%

73.8%+26.0pp

75.9%+24.0pp

72.3%+27.6pp

Annual return

17.22%

19.14%-1.9pp

25.75%-8.5pp

97.93%-80.7pp

Employer contribution / active EE

$4,589

$3,105+47.8%

$3,723+23.3%

$2,406+90.7%

Participant deferral / active EE

$784

$3,641-78.5%

$4,654-83.2%

$4,131-81.0%

Admin fee / account holder

$370

$198+86.4%

$6,754-94.5%

$170+118.2%

Provider

Service type

Compensation

UBS FINANCIAL SERVICES INC6 years

Filed as: UBS FINANCIAL SERVICES INC.

Service code 16

2055 CROCKER ROAD · WESTLAKE, OH 441452197

Consulting

$61,573

MASSACHUSETTS MUTUAL LIFE INS. CO.1 year

Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$45,482

BENESYS, INC.7+ years

Filed as: BENESYS INC.

Service code 13 · EIN 38-2383171

Contract Administrator

$12,110

YURCHYK & DAVIS CPA'S, INC.7+ years

Filed as: YURCHYK & DAVIS CPA'S, INC

Service code 10 · EIN 34-1638235

Accounting

$8,500

MACALA & PIATT, LLC7+ years

Filed as: MACALA & PIATT

Service code 29 · EIN 34-1933033

Legal

$7,039

DIMENSIONAL FUND ADVISORS3 years

Service code 52 · EIN 36-3129984

Indirect Investment Fees

FIDELITY INVESTMENTS INSTITUTIONAL3 years

Filed as: FIDELITY ADVISOR

Service code 52 · EIN 06-1194217

Indirect Investment Fees

FIDELITY INVESTMENTS INSTITUTIONAL3 years

Filed as: FIDELITY INVESTMENTS

Service code 52 · EIN 04-6026952

Indirect Investment Fees

JANUS HENDERSON3 years

Service code 52 · EIN 84-0592523

Indirect Investment Fees

JOHN HANCOCK LIFE INSURANCE COMPANY2 years

Filed as: JOHN HANCOCK

Service code 52 · EIN 04-2528977

Indirect Investment Fees

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