Retirement plan

IBEW LOCAL 38 401(K) RETIREMENT PLAN

Name: IBEW LOCAL 38 401(K) RETIREMENT PLAN - IBEW LOCAL 38 401(K) RETIREMENT PLAN (2022) 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 2022

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

Prospect flagsCorrective distributions

How to read this page

Total assets (EOY)

$127.7M

-11.4% from 2021

Total participants

2,121

+1.2% from 2021

Average account balance

$60,201

-12.4% from 2021

Annual return

-12.67%

-22.51 pp from 2021

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

$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 SOLUTIONS6 years Service code 12 · EIN 13-3689044	Sales loads (front end and deferred);...	$223,463
IBEW-NECA SERVICE CENTER4 years Filed as: IBEW LOCAL 38 FRINGE BENEFIT FUND Service code 99 3250 EUCLID AVE, ROOM 270 · CLEVELAND, OH 44115	Other Fees	$111,169
THE SEGAL COMPANY2 years Filed as: SEGAL MARCO ADVISORS Service code 16 · EIN 13-2626110 1111 SUPERIOR AVENUE · CLEVELAND, OH 44114	Consulting	$40,000
YURCHYK & DAVIS CPA'S, INC.3 years Service code 10 · EIN 34-1638235	Accounting	$12,100
ALLOTTA FARLEY CO LPA4 years Filed as: ALLOTTA FARLEY CO., LPA Service code 29 2222 CENTENNIAL ROAD · TOLEDO, OH 43617	Legal	$10,572

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

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$525K

$310 / participant

Investment mgmt$40K7.6%
Contract admin$111K21.2%
Other / not subdivided$374K71.2%

% of EOY assets

0.411%

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$60,201

$76,774-21.6%

$112,258-46.4%

$77,906-22.7%

Participation rate

100.0%

80.2%+19.8pp

75.1%+24.9pp

73.7%+26.3pp

Annual return

-12.67%

-10.25%-2.4pp

27.47%-40.1pp

12.16%-24.8pp

Employer contribution / active EE

$2,754

$3,977-30.8%

$3,636-24.3%

$2,846-3.3%

Participant deferral / active EE

$3,533

$3,778-6.5%

$4,728-25.3%

$4,805-26.5%

Admin fee / account holder

$247

$239+3.6%

$6,411-96.1%

$133+86.7%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS6 years

Service code 12 · EIN 13-3689044

Sales loads (front end and deferred);...

$223,463

IBEW-NECA SERVICE CENTER4 years

Filed as: IBEW LOCAL 38 FRINGE BENEFIT FUND

Service code 99

3250 EUCLID AVE, ROOM 270 · CLEVELAND, OH 44115

Other Fees

$111,169

THE SEGAL COMPANY2 years

Filed as: SEGAL MARCO ADVISORS

Service code 16 · EIN 13-2626110

1111 SUPERIOR AVENUE · CLEVELAND, OH 44114

Consulting

$40,000

YURCHYK & DAVIS CPA'S, INC.3 years

Service code 10 · EIN 34-1638235

Accounting

$12,100

ALLOTTA FARLEY CO LPA4 years

Filed as: ALLOTTA FARLEY CO., LPA

Service code 29

2222 CENTENNIAL ROAD · TOLEDO, OH 43617

Legal

$10,572

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