Retirement plan

IBEW LOCAL 683 PROFIT SHARING ANNUITY PLAN

Name: IBEW LOCAL 683 BOARD OF TRUSTEES - IBEW LOCAL 683 PROFIT SHARING ANNUITY PLAN (2022) Form 5500
Creator: IBEW LOCAL 683 BOARD OF TRUSTEES
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IBEW LOCAL 683 PROFIT SHARING ANNUITY PLAN, IBEW LOCAL 683 BOARD OF TRUSTEES

IBEW LOCAL 683 BOARD OF TRUSTEESEIN 34-1442087Plan #002PY 2022

6525 CENTURION DRIVE - LANSING, MI 489179275844-683-0683LinkedIn1001-5000 employeesconstruction

Other plans on this EIN

1 filing

#001Retirement-$249.5M assets

Prospect flagsLow participant contribution

How to read this page

Total assets (EOY)

$184M

-6.5% from 2016

Total participants

3,943

-1.2% from 2016

Average account balance

$50,427

-5.3% from 2016

Annual return

-12.90%

-5.38 pp from 2016

Benchmarks

See 502 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort502 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$248.95M

Not enough data

1 years with asset history on file

Average account balance

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

$59K

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.

4,239

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.

73.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$18.97M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+13.52%

Not enough data

1 years with return on file

Admin fee / account holder

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

$64

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 7 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL7 years Filed as: FIDELITY INVESTMENT INST.OPER.CO. Service code 37 · EIN 04-2647786 82 DEVONSHIRE STREET · BOSTON, MA 02109	Loan Processing	$246,776
TIC INTERNATIONAL CORPORATION4 years Filed as: TIC INTERNATIONAL Service code 14 · EIN 13-2600875 6525 CENTURION DRIVE · LANSING, MI 489179275	Plan Administrator	$76,489
THE SEGAL COMPANY4 years Filed as: SEGAL MARCO ADVISORS Service code 27 · EIN 13-2046110 1300 E NINTH, SUITE 1900 · CLEVELAND, OH 441141593	Advisory (Plan)	$75,000
ALLOTTA FARLEY CO LPA7 years Filed as: ALLOTTA FARLEY CO, LPA Service code 29 · EIN 34-1316963 3240 LEVIS BLVD · PERRYSBURG, OH 43551	Legal	$34,631
BODINE PERRY2 years Filed as: BODINE PERRY, PLLC Service code 10 · EIN 83-3033790 3711 STARRS CENTRE DR. · CANFIELD, OH 44406	Accounting	$27,792
THE SEGAL COMPANY2 years Filed as: SEGAL SELECT INSURANCE Service code 23 · EIN 46-0614919 333 WEST 34TH ST 2ND FLR · NEW YORK, NY 10001	Insurance services; Direct payment fr...	$21,813
BENESYS, INC.7 years Filed as: UNITED ACTUARIAL SERVICES Service code 11 · EIN 35-2156428 11590 N MERIDIAN ST · CARMEL, IN 460324529	Actuarial	$8,000

Plan features & details

Pension benefit codes2E2J

Plan features

2E
Profit-sharing
Profit-sharing plan.
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

1 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$268K

$111 / participant

Investment mgmt$80K29.7%
Contract admin$80K29.8%
Other / not subdivided$109K40.5%

% of EOY assets

0.146%

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: BODINE PERRY, PLLC
Auditor EIN: 833033790
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$50,427

$76,774-34.3%

$112,270-55.1%

$77,906-35.3%

Participation rate

87.9%

80.2%+7.7pp

75.1%+12.8pp

73.7%+14.2pp

Annual return

-12.90%

-10.25%-2.6pp

27.49%-40.4pp

12.16%-25.1pp

Employer contribution / active EE

$4,023

$3,977+1.2%

$3,635+10.7%

$2,846+41.4%

Participant deferral / active EE

$683

$3,778-81.9%

$4,729-85.6%

$4,805-85.8%

Admin fee / account holder

$74

$239-69.2%

$6,411-98.9%

$133-44.5%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL7 years

Filed as: FIDELITY INVESTMENT INST.OPER.CO.

Service code 37 · EIN 04-2647786

82 DEVONSHIRE STREET · BOSTON, MA 02109

Loan Processing

$246,776

TIC INTERNATIONAL CORPORATION4 years

Filed as: TIC INTERNATIONAL

Service code 14 · EIN 13-2600875

6525 CENTURION DRIVE · LANSING, MI 489179275

Plan Administrator

$76,489

THE SEGAL COMPANY4 years

Filed as: SEGAL MARCO ADVISORS

Service code 27 · EIN 13-2046110

1300 E NINTH, SUITE 1900 · CLEVELAND, OH 441141593

Advisory (Plan)

$75,000

ALLOTTA FARLEY CO LPA7 years

Filed as: ALLOTTA FARLEY CO, LPA

Service code 29 · EIN 34-1316963

3240 LEVIS BLVD · PERRYSBURG, OH 43551

Legal

$34,631

BODINE PERRY2 years

Filed as: BODINE PERRY, PLLC

Service code 10 · EIN 83-3033790

3711 STARRS CENTRE DR. · CANFIELD, OH 44406

Accounting

$27,792

THE SEGAL COMPANY2 years

Filed as: SEGAL SELECT INSURANCE

Service code 23 · EIN 46-0614919

333 WEST 34TH ST 2ND FLR · NEW YORK, NY 10001

Insurance services; Direct payment fr...

$21,813

BENESYS, INC.7 years

Filed as: UNITED ACTUARIAL SERVICES

Service code 11 · EIN 35-2156428

11590 N MERIDIAN ST · CARMEL, IN 460324529

Actuarial

$8,000

IBEW LOCAL 683 PROFIT SHARING ANNUITY PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IBEW LOCAL 683 PROFIT SHARING ANNUITY 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