Retirement plan

IBEW LOCAL 38 401(K) RETIREMENT PLAN

Name: IBEW LOCAL 38 401(K) RETIREMENT PLAN - IBEW LOCAL 38 401(K) RETIREMENT PLAN (2024) Form 5500
Creator: IBEW LOCAL 38 401(K) RETIREMENT PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IBEW LOCAL 38 401(K) RETIREMENT PLAN, IBEW LOCAL 38 401(K) RETIREMENT PLAN

IBEW LOCAL 38 401(K) RETIREMENT PLANEIN 34-1619944Plan #001PY 2024

3250 EUCLID AVENUE, ROOM 270 - CLEVELAND, OH 44115216-431-7738

Prospect flagsLow returns

How to read this page

Total assets (EOY)

$168.3M

+14.9% from 2023

Total participants

2,350

+9.4% from 2023

Average account balance

$71,629

+5.0% from 2023

Annual return

10.88%

-2.59 pp from 2023

Benchmarks

See 560 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort560 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$168.33M

Not enough data

1 years with asset history on file

Average account balance

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

$72K

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.

2,350

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

$15.71M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+10.88%

Not enough data

1 years with return on file

Admin fee / account holder

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

$244

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 5 by compensation

Provider	Service type	Compensation
TRANSAMERICA RETIREMENT SOLUTIONS8 years Service code 12 · EIN 13-3689044	Investment management; Sales loads (f...	$110,333
IBEW-NECA SERVICE CENTER6 years Filed as: IBEW LOCAL 38 FRINGE BENEFIT FUND Service code 99 3250 EUCLID AVE, ROOM 270 · CLEVELAND, OH 44115	Other Fees	$86,066
THE SEGAL COMPANY4 years Filed as: SEGAL MARCO ADVISORS Service code 16 1111 SUPERIOR AVENUE · CLEVELAND, OH 44114	Consulting	$40,000
ALLOTTA FARLEY CO LPA6 years Filed as: ALLOTTA FARLEY CO., LPA Service code 29 3240 LEVIS COMMONS BLVD · PERRYSBURG, OH 43551	Legal	$15,918
YURCHYK & DAVIS CPA'S, INC.5 years Service code 10 · EIN 34-1638235	Accounting	$13,900

Plan features & details

Pension benefit codes2G2J

Plan features

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

1 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$574K

$262 / participant

Recordkeeping$393K68.5%
Trustee / custodial$2K0.4%
Investment mgmt$40K7.0%
Legal$16K2.8%
Contract admin$86K15.0%
Other / not subdivided$37K6.4%

% of EOY assets

0.341%

all-in expense ratio

Categories reported

5 / 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: $13,900
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$71,629

$241,850-70.4%

$102,437-30.1%

$200,096-64.2%

Participation rate

100.0%

78.3%+21.7pp

74.5%+25.5pp

72.0%+28.0pp

Annual return

10.88%

17.67%-6.8pp

24.95%-14.1pp

34.26%-23.4pp

Employer contribution / active EE

$3,784

$4,253-11.0%

$3,871-2.2%

$3,038+24.6%

Participant deferral / active EE

$3,378

$3,961-14.7%

$5,060-33.2%

$5,090-33.6%

Admin fee / account holder

$244

$288-15.2%

$8,388-97.1%

$269-9.3%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS8 years

Service code 12 · EIN 13-3689044

Investment management; Sales loads (f...

$110,333

IBEW-NECA SERVICE CENTER6 years

Filed as: IBEW LOCAL 38 FRINGE BENEFIT FUND

Service code 99

3250 EUCLID AVE, ROOM 270 · CLEVELAND, OH 44115

Other Fees

$86,066

THE SEGAL COMPANY4 years

Filed as: SEGAL MARCO ADVISORS

Service code 16

1111 SUPERIOR AVENUE · CLEVELAND, OH 44114

Consulting

$40,000

ALLOTTA FARLEY CO LPA6 years

Filed as: ALLOTTA FARLEY CO., LPA

Service code 29

3240 LEVIS COMMONS BLVD · PERRYSBURG, OH 43551

Legal

$15,918

YURCHYK & DAVIS CPA'S, INC.5 years

Service code 10 · EIN 34-1638235

Accounting

$13,900

IBEW LOCAL 38 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IBEW LOCAL 38 401(K) RETIREMENT 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