Retirement plan

I.B.E.W. LOCAL 673 PROFIT SHARING ANNUITY PLAN

Name: I.B.E.W. LOCAL 673 PROFIT SHARING ANNUITY PLAN - BOARD OF TRUSTEES - I.B.E.W. LOCAL 673 PROFIT SHARING ANNUITY PLAN (2016) Form 5500
Creator: I.B.E.W. LOCAL 673 PROFIT SHARING ANNUITY PLAN - BOARD OF TRUSTEES
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, I.B.E.W. LOCAL 673 PROFIT SHARING ANNUITY PLAN, I.B.E.W. LOCAL 673 PROFIT SHARING ANNUITY PLAN - BOARD OF TRUSTEES

I.B.E.W. LOCAL 673 PROFIT SHARING ANNUITY PLAN - BOARD OF TRUSTEESEIN 34-6661994Plan #002PY 2016

8356 MUNSON ROAD - MENTOR, OH 44060440-255-2419

Other plans on this EIN

1 filing

#001Retirement-$77.7M assets

Prospect flagsLow participationLow participant contribution

How to read this page

Total assets (EOY)

$36.8M

+3.2% from 2015

Total participants

559

-1.1% from 2015

Average account balance

$87,009

+2.9% from 2015

Annual return

6.69%

+8.56 pp from 2015

Benchmarks

See 1,079 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,079 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$53.87M

Not enough data

1 years with asset history on file

Average account balance

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

$83K

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.

651

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

$1.60M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+12.85%

Not enough data

1 years with return on file

Admin fee / account holder

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

$252

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
INVESCO1 year Filed as: INVESCO TRUST COMPANY Service code 28 · EIN 46-3793325 1555 PEACHTREE ST,NE,1000 · ATLANTA, GA 30309	Investment Management	$157,714
UBS FINANCIAL SERVICES INC2+ years Service code 27 · EIN 13-2638166 1000 HARBOR BLVD FL 8 · WEEHAWKEN, NJ 07086	Advisory (Plan)	$42,526
IBEW 673 FRINGE BENEFIT FUNDS INC2+ years Service code 13 · EIN 34-1323834	Contract Administrator	$39,249
JOHN HANCOCK LIFE INSURANCE COMPANY1 year Filed as: JOHN HANCOCK RETIRMENT PLAN SVCS Service code 15 · EIN 45-3008106 690 CANTON STREET · WESTWOOD, MA 02090	Recordkeeping	$33,837
GALLOVIC, GRANITO, & CO LTD2+ years Service code 10 · EIN 34-1723186	Accounting	$19,000
MACALA & PIATT, LLC1 year Filed as: MACALA & PIATTA, L.L.C. Service code 29 · EIN 34-1933033	Legal	$7,663
TODD EUGENE HOLT2+ years Filed as: TODD ASSOCIATES INC Service code 23 · EIN 34-0727780	Insurance services	$6,285

Plan features & details

Pension benefit codes2E2G2J3B

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$119K

$282 / participant

Investment mgmt$43K35.6%
Contract admin$39K32.9%
Other / not subdivided$38K31.5%

% of EOY assets

0.324%

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: GALLOVIC, GRANITO & CO LTD
Auditor EIN: 341723186
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$87,009

$57,921+50.2%

$84,753+2.7%

$57,658+50.9%

Participation rate

67.8%

72.9%-5.1pp

76.6%-8.7pp

70.2%-2.4pp

Annual return

6.69%

10.24%-3.5pp

22.78%-16.1pp

5.13%+1.6pp

Employer contribution / active EE

$1,400

$2,598-46.1%

$3,574-60.8%

$1,974-29.1%

Participant deferral / active EE

$75

$2,742-97.3%

$3,712-98.0%

$3,061-97.5%

Admin fee / account holder

$282

$130+117.6%

$5,333-94.7%

$95+198.5%

Provider

Service type

Compensation

INVESCO1 year

Filed as: INVESCO TRUST COMPANY

Service code 28 · EIN 46-3793325

1555 PEACHTREE ST,NE,1000 · ATLANTA, GA 30309

Investment Management

$157,714

UBS FINANCIAL SERVICES INC2+ years

Service code 27 · EIN 13-2638166

1000 HARBOR BLVD FL 8 · WEEHAWKEN, NJ 07086

Advisory (Plan)

$42,526

IBEW 673 FRINGE BENEFIT FUNDS INC2+ years

Service code 13 · EIN 34-1323834

Contract Administrator

$39,249

JOHN HANCOCK LIFE INSURANCE COMPANY1 year

Filed as: JOHN HANCOCK RETIRMENT PLAN SVCS

Service code 15 · EIN 45-3008106

690 CANTON STREET · WESTWOOD, MA 02090

Recordkeeping

$33,837

GALLOVIC, GRANITO, & CO LTD2+ years

Service code 10 · EIN 34-1723186

Accounting

$19,000

MACALA & PIATT, LLC1 year

Filed as: MACALA & PIATTA, L.L.C.

Service code 29 · EIN 34-1933033

Legal

$7,663

TODD EUGENE HOLT2+ years

Filed as: TODD ASSOCIATES INC

Service code 23 · EIN 34-0727780

Insurance services

$6,285

I.B.E.W. LOCAL 673 PROFIT SHARING ANNUITY PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

I.B.E.W. LOCAL 673 PROFIT SHARING ANNUITY 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