Retirement plan

LOCAL NO. 8 IBEW RETIREMENT PLAN & TRUST

Name: BOARD OF TRUSTEES LOCAL NO. 8 IBEW RETIREMENT PLAN & TRUST - LOCAL NO. 8 IBEW RETIREMENT PLAN & TRUST (2021) Form 5500
Creator: BOARD OF TRUSTEES LOCAL NO. 8 IBEW RETIREMENT PLAN & TRUST
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LOCAL NO. 8 IBEW RETIREMENT PLAN & TRUST, BOARD OF TRUSTEES LOCAL NO. 8 IBEW RETIREMENT PLAN & TRUST

BOARD OF TRUSTEES LOCAL NO. 8 IBEW RETIREMENT PLAN & TRUSTEIN 34-6596899Plan #001PY 2021

727 LIME CITY ROAD - ROSSFORD, OH 434601611419-666-4450

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$613.1M

-2.9% from 2016

Total participants

2,665

-0.6% from 2016

Average account balance

$230,060

-2.6% from 2016

Annual return

10.45%

-2.05 pp from 2016

Benchmarks

See 479 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort479 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$670.96M

Not enough data

1 years with asset history on file

Average account balance

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

$228K

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.

2,945

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.

91.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$26.40M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+9.54%

Not enough data

1 years with return on file

Admin fee / account holder

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

$792

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 10 of 22 by compensation

Provider	Service type	Compensation
GALLAGHER FIDUCIARY ADVISORS, LLC7+ years Service code 17 · EIN 36-7291971	Pension Consulting	$326,249
RIVER ROAD ASSET MANAGEMENT7+ years Filed as: RIVER ROAD ASSET MANAGEMENT, LLC Service code 28 · EIN 43-2076925	Investment Management	$297,713
COLUMBIA7+ years Filed as: COLUMBIA MANAGEMENT INVESTMENT ADVI Service code 27 · EIN 13-3180631	Advisory (Plan)	$283,714
WEDGE CAPITAL MANAGEMENT7+ years Filed as: WEDGE CAPITAL MANAGEMENT LLP Service code 51 · EIN 56-1557450	Investment Mgmt Fees	$203,801
METROPOLITAN WEST ASSET MANAGEMENT7+ years Service code 17 · EIN 95-4597302	Pension Consulting	$198,704
PARAMETRIC PORTFOLIO ASSOCIATES LLC4 years Filed as: PARAMETRIC PORTFOLIO ASSOCIATES Service code 28 · EIN 20-0292745	Investment Management	$149,464
MSPC7+ years Filed as: MSPC CPAS & ADVISORS, P.C. Service code 10 · EIN 22-2951202	Accounting	$24,623
SHUMAKER, LOOP & KENDRICK, LLP7+ years Service code 29 · EIN 34-4439491	Legal	$23,443
BENESYS, INC.7+ years Filed as: INNOVATIVE SOFTWARE SOLUTIONS, INC Service code 50 · EIN 23-2182079	Direct Payment	$9,168
MASSACHUSETTS MUTUAL LIFE INS. CO.5 years Service code 52 · EIN 04-1590850	Indirect Investment Fees	$1,437

Plan features & details

Pension benefit codes2E2F2H2J2T

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$1.6M

$709 / participant

Investment mgmt$1M64.2%
Other / not subdivided$577K35.8%

% of EOY assets

0.263%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MSPC, CPA'S AND ADVISORS, P.C.
Auditor EIN: 222951202
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$230,060

$88,770+159.2%

$109,191+110.7%

$93,010+147.3%

Participation rate

100.0%

81.5%+18.5pp

75.9%+24.1pp

73.9%+26.1pp

Annual return

10.45%

60.64%-50.2pp

25.76%-15.3pp

158.70%-148.3pp

Employer contribution / active EE

$7,296

$3,780+93.0%

$3,723+96.0%

$2,705+169.7%

Participant deferral / active EE

$1,883

$3,630-48.1%

$4,653-59.5%

$4,561-58.7%

Admin fee / account holder

$605

$172+250.9%

$6,756-91.1%

$152+298.7%

Provider

Service type

Compensation

GALLAGHER FIDUCIARY ADVISORS, LLC7+ years

Service code 17 · EIN 36-7291971

Pension Consulting

$326,249

RIVER ROAD ASSET MANAGEMENT7+ years

Filed as: RIVER ROAD ASSET MANAGEMENT, LLC

Service code 28 · EIN 43-2076925

Investment Management

$297,713

COLUMBIA7+ years

Filed as: COLUMBIA MANAGEMENT INVESTMENT ADVI

Service code 27 · EIN 13-3180631

Advisory (Plan)

$283,714

WEDGE CAPITAL MANAGEMENT7+ years

Filed as: WEDGE CAPITAL MANAGEMENT LLP

Service code 51 · EIN 56-1557450

Investment Mgmt Fees

$203,801

METROPOLITAN WEST ASSET MANAGEMENT7+ years

Service code 17 · EIN 95-4597302

Pension Consulting

$198,704

PARAMETRIC PORTFOLIO ASSOCIATES LLC4 years

Filed as: PARAMETRIC PORTFOLIO ASSOCIATES

Service code 28 · EIN 20-0292745

Investment Management

$149,464

MSPC7+ years

Filed as: MSPC CPAS & ADVISORS, P.C.

Service code 10 · EIN 22-2951202

Accounting

$24,623

SHUMAKER, LOOP & KENDRICK, LLP7+ years

Service code 29 · EIN 34-4439491

Legal

$23,443

BENESYS, INC.7+ years

Filed as: INNOVATIVE SOFTWARE SOLUTIONS, INC

Service code 50 · EIN 23-2182079

Direct Payment

$9,168

MASSACHUSETTS MUTUAL LIFE INS. CO.5 years

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$1,437

LOCAL NO. 8 IBEW RETIREMENT PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LOCAL NO. 8 IBEW RETIREMENT PLAN & TRUST

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