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 (2018) 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 2018

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

Other plans on this EIN

2 filings

#007Retirement-$224.8M assets #002Retirement-$1.6M assets

Prospect flagsLow participationLow employer contribution

How to read this page

Total assets (EOY)

$76.3M

-5.1% from 2017

Total participants

1,228

+0.2% from 2017

Average account balance

$90,100

-12.7% from 2017

Annual return

-4.46%

-23.65 pp from 2017

Benchmarks

See 89 peers

Peer group

Industry21 - Mining, Quarrying, and Oil and Gas Extraction

Plan typeDefined contribution

Participants1,000-4,999

Cohort89 peers

Snapshot2018

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.4+ years Service code 10 · EIN 34-1818258	Accounting	$10,300
HARTLAND & CO4+ years Service code 27 · EIN 34-1597728	Advisory (Plan)	$8,592
FIDELITY INVESTMENTS INSTITUTIONAL4+ years Filed as: FIDELITY INV INST OPERATIONS CO Service code 37 · EIN 04-2647786	Loan Processing	$5,671

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 employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$25K

$22 / participant

Other / not subdivided$25K100.0%

% of EOY assets

0.032%

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

$90,100

$96,900-7.0%

$111,392-19.1%

$75,289+19.7%

Participation rate

66.5%

85.9%-19.4pp

78.9%-12.3pp

72.4%-5.9pp

Annual return

-4.46%

1.66%-6.1pp

-2.06%-2.4pp

-0.04%-4.4pp

Employer contribution / active EE

$159

$5,520-97.1%

$4,328-96.3%

$2,405-93.4%

Participant deferral / active EE

$4,685

$6,494-27.8%

$5,567-15.8%

$3,739+25.3%

Admin fee / account holder

$29

$105-72.4%

$12,266-99.8%

$102-71.7%

Provider

Service type

Compensation

MEADEN & MOORE, LTD.4+ years

Service code 10 · EIN 34-1818258

Accounting

$10,300

HARTLAND & CO4+ years

Service code 27 · EIN 34-1597728

Advisory (Plan)

$8,592

FIDELITY INVESTMENTS INSTITUTIONAL4+ years

Filed as: FIDELITY INV INST OPERATIONS CO

Service code 37 · EIN 04-2647786

Loan Processing

$5,671

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