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 (2023) 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 2023

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

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$614.2M

-2.9% from 2016

Total participants

2,833

-0.6% from 2016

Average account balance

$216,816

-2.6% from 2016

Annual return

13.76%

-2.05 pp from 2016

Benchmarks

See 531 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort531 peers

Snapshot2023

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 26 by compensation

Provider	Service type	Compensation
NWO ELECTRICAL ADMIN. INC.9+ years Service code 16 · EIN 34-1956758	Consulting	$439,222
GALLAGHER FIDUCIARY ADVISORS, LLC9+ years Service code 17 · EIN 36-7291971	Pension Consulting	$311,744
METROPOLITAN WEST ASSET MANAGEMENT9+ years Service code 17 · EIN 95-4597302	Pension Consulting	$296,198
BLACKSTONE1 year Filed as: BLACKSTONE INVESTMENT MANAGEMENT Service code 28 345 PARK AVENUE · NEW YORK, NY 10154	Investment Management	$284,218
COLUMBIA9+ years Filed as: COLUMBIA MANAGEMENT INVESTMENT ADVI Service code 27 · EIN 13-3180631	Advisory (Plan)	$258,275
NEWTOWER TRUST COMPANY1 year Filed as: NEW TOWER TRUST COMPANY Service code 28 · EIN 30-0872552	Investment Management	$227,420
WEDGE CAPITAL MANAGEMENT9+ years Filed as: WEDGE CAPITAL MANAGEMENT LLP Service code 28 · EIN 56-1557450	Investment Management	$202,971
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INS CO. OF AMERICA Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$191,629
PARAMETRIC PORTFOLIO ASSOCIATES LLC6 years Filed as: PARAMETRIC PORTFOLIO ASSOCIATES Service code 28 · EIN 20-0292745	Investment Management	$161,354
RIVER ROAD ASSET MANAGEMENT9+ years Filed as: RIVER ROAD ASSET MANAGEMENT, LLC Service code 28 · EIN 43-2076925	Investment Management	$161,138

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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$2.2M

$975 / participant

Recordkeeping$1K0.1%
Investment mgmt$2M71.2%
Legal$8K0.4%
Salaries / allowances$130K5.8%
Other trustee fees$2K0.1%
Other / not subdivided$502K22.5%

% of EOY assets

0.364%

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: MSPC, CPA'S AND ADVISORS, P.C.
Auditor EIN: 222951202
Audit fees: $31,694
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$216,816

$88,479+145.0%

$96,543+124.6%

$80,187+170.4%

Participation rate

100.0%

79.9%+20.1pp

74.3%+25.7pp

72.9%+27.1pp

Annual return

13.76%

22.53%-8.8pp

35.75%-22.0pp

40.40%-26.6pp

Employer contribution / active EE

$7,927

$4,177+89.8%

$3,741+111.9%

$2,980+166.1%

Participant deferral / active EE

$2,228

$3,961-43.7%

$4,880-54.3%

$5,016-55.6%

Admin fee / account holder

$789

$211+273.0%

$6,737-88.3%

$145+443.9%

Provider

Service type

Compensation

NWO ELECTRICAL ADMIN. INC.9+ years

Service code 16 · EIN 34-1956758

Consulting

$439,222

GALLAGHER FIDUCIARY ADVISORS, LLC9+ years

Service code 17 · EIN 36-7291971

Pension Consulting

$311,744

METROPOLITAN WEST ASSET MANAGEMENT9+ years

Service code 17 · EIN 95-4597302

Pension Consulting

$296,198

BLACKSTONE1 year

Filed as: BLACKSTONE INVESTMENT MANAGEMENT

Service code 28

345 PARK AVENUE · NEW YORK, NY 10154

Investment Management

$284,218

COLUMBIA9+ years

Filed as: COLUMBIA MANAGEMENT INVESTMENT ADVI

Service code 27 · EIN 13-3180631

Advisory (Plan)

$258,275

NEWTOWER TRUST COMPANY1 year

Filed as: NEW TOWER TRUST COMPANY

Service code 28 · EIN 30-0872552

Investment Management

$227,420

WEDGE CAPITAL MANAGEMENT9+ years

Filed as: WEDGE CAPITAL MANAGEMENT LLP

Service code 28 · EIN 56-1557450

Investment Management

$202,971

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INS CO. OF AMERICA

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$191,629

PARAMETRIC PORTFOLIO ASSOCIATES LLC6 years

Filed as: PARAMETRIC PORTFOLIO ASSOCIATES

Service code 28 · EIN 20-0292745

Investment Management

$161,354

RIVER ROAD ASSET MANAGEMENT9+ years

Filed as: RIVER ROAD ASSET MANAGEMENT, LLC

Service code 28 · EIN 43-2076925

Investment Management

$161,138

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