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 (2023) 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 2023

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

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$75.9M

+20.1% from 2022

Total participants

987

+11.5% from 2022

Average account balance

$76,924

+7.4% from 2022

Annual return

20.15%

+38.84 pp from 2022

Benchmarks

See 1,502 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,502 peers

Snapshot2023

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
UBS FINANCIAL SERVICES INC8 years Filed as: UBS FINANCIAL SERVICES INC. Service code 16 1000 HARBOR BLVD, 6TH FL · WEEHAWKEN, NJ 07086	Consulting	$86,298
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER Service code 28 8515 EAST ORCHARD RD · GREENWOOD VILLAGE, CO 80111	Investment Management	$59,251
MACALA & PIATT, LLC9+ years Filed as: MACALA & PIATT Service code 29 601 S. MAIN ST. · NORTH CANTON, OH 44720	Legal	$12,920
BENESYS, INC.9+ years Filed as: BENESYS INC. Service code 13 3660 STUTZ DRIVE, STE 101 · CANFIELD, OH 44406	Contract Administrator	$12,821
YURCHYK & DAVIS CPA'S, INC.9+ years Filed as: YURCHYK & DAVIS CPA'S, INC Service code 10 · EIN 34-1638235	Accounting	$8,900

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

$321K

$349 / participant

Trustee / custodial$6250.2%
Investment mgmt$146K45.4%
Legal$13K4.0%
Contract admin$13K4.0%
Other / not subdivided$149K46.4%

% of EOY assets

0.422%

all-in expense ratio

Categories reported

4 / 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: $8,900
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$76,924

$93,010-17.3%

$96,515-20.3%

$74,460+3.3%

Participation rate

100.0%

71.6%+28.4pp

74.3%+25.7pp

70.7%+29.3pp

Annual return

20.15%

37.50%-17.3pp

35.73%-15.6pp

34.38%-14.2pp

Employer contribution / active EE

$4,370

$3,427+27.5%

$3,740+16.9%

$2,638+65.6%

Participant deferral / active EE

$1,034

$3,971-74.0%

$4,880-78.8%

$4,530-77.2%

Admin fee / account holder

$325

$633-48.7%

$6,735-95.2%

$348-6.6%

Provider

Service type

Compensation

UBS FINANCIAL SERVICES INC8 years

Filed as: UBS FINANCIAL SERVICES INC.

Service code 16

1000 HARBOR BLVD, 6TH FL · WEEHAWKEN, NJ 07086

Consulting

$86,298

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER

Service code 28

8515 EAST ORCHARD RD · GREENWOOD VILLAGE, CO 80111

Investment Management

$59,251

MACALA & PIATT, LLC9+ years

Filed as: MACALA & PIATT

Service code 29

601 S. MAIN ST. · NORTH CANTON, OH 44720

Legal

$12,920

BENESYS, INC.9+ years

Filed as: BENESYS INC.

Service code 13

3660 STUTZ DRIVE, STE 101 · CANFIELD, OH 44406

Contract Administrator

$12,821

YURCHYK & DAVIS CPA'S, INC.9+ years

Filed as: YURCHYK & DAVIS CPA'S, INC

Service code 10 · EIN 34-1638235

Accounting

$8,900

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