Retirement plan

SAVINGS PLAN FOR MINNESOTA REPRESENTED HOURLY EMPLOYEES

Name: HIBBING JOINT VENTURE CLIFFS MINING CO, MANAGING AGENT - SAVINGS PLAN FOR MINNESOTA REPRESENTED HOURLY EMPLOYEES (2016) Form 5500
Creator: HIBBING JOINT VENTURE CLIFFS MINING CO, MANAGING AGENT
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SAVINGS PLAN FOR MINNESOTA REPRESENTED HOURLY EMPLOYEES, HIBBING JOINT VENTURE CLIFFS MINING CO, MANAGING AGENT

HIBBING JOINT VENTURE CLIFFS MINING CO, MANAGING AGENTEIN 34-1120353Plan #018PY 2016

200 PUBLIC SQUARE, SUITE 3300 - CLEVELAND, OH 441142315216-694-5505

Other plans on this EIN

2 filings

#007Retirement-$216.8M assets #002Retirement-$1.7M assets

Prospect flagsLow returnsLow participation

How to read this page

Total assets (EOY)

$69.7M

-0.9% from 2015

Total participants

1,135

-0.3% from 2015

Average account balance

$93,648

-1.0% from 2015

Annual return

5.16%

+3.33 pp from 2015

Benchmarks

See 87 peers

Peer group

Industry21 - Mining, Quarrying, and Oil and Gas Extraction

Plan typeDefined contribution

Participants1,000-4,999

Cohort87 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$52.12M

Not enough data

1 years with asset history on file

Average account balance

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

$102K

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.

513

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.

84.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.06M

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

+16.98%

Not enough data

1 years with return on file

Admin fee / account holder

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

$30

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 3 by compensation

Provider	Service type	Compensation
MEADEN & MOORE, LTD.2+ years Service code 10 · EIN 34-1818258	Accounting	$10,300
HARTLAND & CO2+ years Service code 27 · EIN 34-1597728	Advisory (Plan)	$8,251
FIDELITY INVESTMENTS INSTITUTIONAL2+ years Filed as: FIDELITY INV INST OPERATIONS CO Service code 37 · EIN 04-2647786	Loan Processing	$6,434

Plan features & details

Pension benefit codes2E2G2J3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$25K

$23 / participant

Other / not subdivided$25K100.0%

% of EOY assets

0.036%

all-in expense ratio

Categories reported

0 / 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: MEADEN & MOORE, LTD.
Auditor EIN: 341818258
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$93,648

$98,217-4.7%

$105,754-11.4%

$63,975+46.4%

Participation rate

63.4%

81.9%-18.5pp

78.9%-15.5pp

71.1%-7.7pp

Annual return

5.16%

20.18%-15.0pp

12.25%-7.1pp

48.65%-43.5pp

Employer contribution / active EE

$4,802-100.0%

$4,079-100.0%

$2,182-100.0%

Participant deferral / active EE

$3,221

$6,019-46.5%

$5,326-39.5%

$3,356-4.0%

Admin fee / account holder

$34

$70-51.9%

$8,309-99.6%

$70-52.3%

Provider

Service type

Compensation

MEADEN & MOORE, LTD.2+ years

Service code 10 · EIN 34-1818258

Accounting

$10,300

HARTLAND & CO2+ years

Service code 27 · EIN 34-1597728

Advisory (Plan)

$8,251

FIDELITY INVESTMENTS INSTITUTIONAL2+ years

Filed as: FIDELITY INV INST OPERATIONS CO

Service code 37 · EIN 04-2647786

Loan Processing

$6,434

SAVINGS PLAN FOR MINNESOTA REPRESENTED HOURLY EMPLOYEES

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SAVINGS PLAN FOR MINNESOTA REPRESENTED HOURLY EMPLOYEES

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