Retirement plan

IBEW LOCAL 38 401(K) RETIREMENT PLAN

Name: IBEW LOCAL 38 401(K) RETIREMENT PLAN - IBEW LOCAL 38 401(K) RETIREMENT PLAN (2019) 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 2019

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

Prospect flagsLow participationCorrective distributions

How to read this page

Total assets (EOY)

$123M

+14.0% from 2018

Total participants

2,244

-3.2% from 2018

Average account balance

$92,225

+9.0% from 2018

Annual return

14.77%

+20.65 pp from 2018

Benchmarks

See 440 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort440 peers

Snapshot2019

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 7 by compensation

Provider	Service type	Compensation
IBEW-NECA SERVICE CENTER1 year Filed as: IBEW LOCAL 38 FRINGE BENEFIT FUND Service code 99 3250 EUCLID AVE, ROOM 270 · CLEVELAND, OH 44115	Other Fees	$106,337
TRANSAMERICA RETIREMENT SOLUTIONS3 years Service code 12 · EIN 13-3689044	Investment management; Recordkeeping ...	$68,621
THE SEGAL COMPANY1 year Filed as: SEGAL MACRO ADVISORS Service code 16 · EIN 13-2626110	Consulting	$40,032
CHARLES SCHWAB & CO., INC.2 years Filed as: REA & ASSOCIATES, INC. Service code 10 · EIN 34-1310124 122 4TH ST NW · NEW PHILADELPHIA, OH 44663	Accounting	$11,840
ALLOTTA FARLEY CO LPA1 year Filed as: ALLOTTA FARLEY CO., LPA Service code 29 2222 CENTENNIAL ROAD · TOLEDO, OH 43617	Legal	$8,242
MID ATLANTIC CAPITAL CORPORATION3 years Service code 34 · EIN 25-1409618	Valuation (appraisals, etc.); Securit...	$0
NATIONAL FINANCIAL SERVICES2 years Service code 33 · EIN 04-3523567	Securities brokerage; Securities brok...	$0

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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$254K

$122 / participant

Investment mgmt$40K15.7%
Contract admin$106K41.8%
Other / not subdivided$108K42.4%

% of EOY assets

0.207%

all-in expense ratio

Categories reported

2 / 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: YURCHYK & DAVIS CPA'S, INC.
Auditor EIN: 341638235
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$92,225

$66,051+39.6%

$92,903-0.7%

$77,775+18.6%

Participation rate

56.4%

81.0%-24.6pp

76.0%-19.6pp

73.2%-16.8pp

Annual return

14.77%

20.69%-5.9pp

109.43%-94.7pp

32.58%-17.8pp

Employer contribution / active EE

$3,426-100.0%

$3,653-100.0%

$2,504-100.0%

Participant deferral / active EE

$2,264

$3,013-24.9%

$4,238-46.6%

$3,966-42.9%

Admin fee / account holder

$191

$148+29.0%

$5,795-96.7%

$100+90.5%

Provider

Service type

Compensation

IBEW-NECA SERVICE CENTER1 year

Filed as: IBEW LOCAL 38 FRINGE BENEFIT FUND

Service code 99

3250 EUCLID AVE, ROOM 270 · CLEVELAND, OH 44115

Other Fees

$106,337

TRANSAMERICA RETIREMENT SOLUTIONS3 years

Service code 12 · EIN 13-3689044

Investment management; Recordkeeping ...

$68,621

THE SEGAL COMPANY1 year

Filed as: SEGAL MACRO ADVISORS

Service code 16 · EIN 13-2626110

Consulting

$40,032

CHARLES SCHWAB & CO., INC.2 years

Filed as: REA & ASSOCIATES, INC.

Service code 10 · EIN 34-1310124

122 4TH ST NW · NEW PHILADELPHIA, OH 44663

Accounting

$11,840

ALLOTTA FARLEY CO LPA1 year

Filed as: ALLOTTA FARLEY CO., LPA

Service code 29

2222 CENTENNIAL ROAD · TOLEDO, OH 43617

Legal

$8,242

MID ATLANTIC CAPITAL CORPORATION3 years

Service code 34 · EIN 25-1409618

Valuation (appraisals, etc.); Securit...

NATIONAL FINANCIAL SERVICES2 years

Service code 33 · EIN 04-3523567

Securities brokerage; Securities brok...

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