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 (2022) 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 2022

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

Prospect flagsHigh retiree %High fees

How to read this page

Total assets (EOY)

$545.7M

-2.9% from 2016

Total participants

2,826

-0.6% from 2016

Average account balance

$193,114

-2.6% from 2016

Annual return

-9.55%

-2.05 pp from 2016

Benchmarks

See 112 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Cohort112 peers

Snapshot2022

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 24 by compensation

Provider	Service type	Compensation
NWO ELECTRICAL ADMIN. INC.8+ years Service code 16 · EIN 34-1956758	Consulting	$320,465
PARAMETRIC PORTFOLIO ASSOCIATES LLC5 years Filed as: PARAMETRIC PORTFOLIO ASSOCIATES Service code 28 · EIN 20-0292745	Investment Management	$291,408
GALLAGHER FIDUCIARY ADVISORS, LLC8+ years Service code 17 · EIN 36-7291971	Pension Consulting	$235,450
WEDGE CAPITAL MANAGEMENT8+ years Filed as: WEDGE CAPITAL MANAGEMENT LLP Service code 28 · EIN 56-1557450	Investment Management	$207,117
COLUMBIA8+ years Filed as: COLUMBIA MANAGEMENT INVESTMENT ADVI Service code 27 · EIN 13-3180631	Advisory (Plan)	$187,618
RIVER ROAD ASSET MANAGEMENT8+ years Filed as: RIVER ROAD ASSET MANAGEMENT, LLC Service code 28 · EIN 43-2076925	Investment Management	$162,940
METROPOLITAN WEST ASSET MANAGEMENT8+ years Service code 17 · EIN 95-4597302	Pension Consulting	$124,977
MSPC8+ years Filed as: MSPC CPAS & ADVISORS, P.C. Service code 10 · EIN 22-2951202	Accounting	$28,375
SHUMAKER, LOOP & KENDRICK, LLP8+ years Service code 29 · EIN 34-4439491	Legal	$22,641
BENESYS, INC.8+ years Filed as: INNOVATIVE SOFTWARE SOLUTIONS, INC Service code 50 · EIN 23-2182079	Direct Payment	$11,429

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.)
InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

Expense breakdown

Schedule H Part II

Admin total

$1.7M

Investment mgmt$1M64.2%
Other / not subdivided$624K35.8%

% of EOY assets

0.319%

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

$193,114

$180,329+7.1%

$112,270+72.0%

Participation rate

0.0%

66.3%-66.3pp

75.1%-75.1pp

Annual return

-9.55%

-16.34%+6.8pp

27.49%-37.0pp

Employer contribution / active EE

$2,897-100.0%

$3,635-100.0%

Participant deferral / active EE

$3,332-100.0%

$4,729-100.0%

Admin fee / account holder

$617

$20,035-96.9%

$6,411-90.4%

Provider

Service type

Compensation

NWO ELECTRICAL ADMIN. INC.8+ years

Service code 16 · EIN 34-1956758

Consulting

$320,465

PARAMETRIC PORTFOLIO ASSOCIATES LLC5 years

Filed as: PARAMETRIC PORTFOLIO ASSOCIATES

Service code 28 · EIN 20-0292745

Investment Management

$291,408

GALLAGHER FIDUCIARY ADVISORS, LLC8+ years

Service code 17 · EIN 36-7291971

Pension Consulting

$235,450

WEDGE CAPITAL MANAGEMENT8+ years

Filed as: WEDGE CAPITAL MANAGEMENT LLP

Service code 28 · EIN 56-1557450

Investment Management

$207,117

COLUMBIA8+ years

Filed as: COLUMBIA MANAGEMENT INVESTMENT ADVI

Service code 27 · EIN 13-3180631

Advisory (Plan)

$187,618

RIVER ROAD ASSET MANAGEMENT8+ years

Filed as: RIVER ROAD ASSET MANAGEMENT, LLC

Service code 28 · EIN 43-2076925

Investment Management

$162,940

METROPOLITAN WEST ASSET MANAGEMENT8+ years

Service code 17 · EIN 95-4597302

Pension Consulting

$124,977

MSPC8+ years

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

Service code 10 · EIN 22-2951202

Accounting

$28,375

SHUMAKER, LOOP & KENDRICK, LLP8+ years

Service code 29 · EIN 34-4439491

Legal

$22,641

BENESYS, INC.8+ years

Filed as: INNOVATIVE SOFTWARE SOLUTIONS, INC

Service code 50 · EIN 23-2182079

Direct Payment

$11,429

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