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 (2017) 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 2017

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

Other plans on this EIN

1 filing

#001Retirement-$83.0M assets

Prospect flagsHigh feesLow participationLow participant contribution

How to read this page

Total assets (EOY)

$40.2M

+9.2% from 2016

Total participants

575

+2.9% from 2016

Average account balance

$95,246

+9.5% from 2016

Annual return

12.80%

+6.11 pp from 2016

Benchmarks

See 1,124 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,124 peers

Snapshot2017

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
INVESCO2 years Filed as: INVESCO TRUST COMPANY Service code 28 · EIN 46-3793325 1555 PEACHTREE ST,NE,1000 · ATLANTA, GA 30309	Investment Management	$135,488
UBS FINANCIAL SERVICES INC3+ years Service code 27 · EIN 13-2638166 1000 HARBOR BLVD FL 8 · WEEHAWKEN, NJ 07086	Advisory (Plan)	$44,596
JOHN HANCOCK LIFE INSURANCE COMPANY2 years Filed as: JOHN HANCOCK RETIRMENT PLAN SVCS Service code 15 · EIN 45-3008106 690 CANTON STREET · WESTWOOD, MA 02090	Recordkeeping	$42,037
IBEW 673 FRINGE BENEFIT FUNDS INC3+ years Service code 13 · EIN 34-1323834	Contract Administrator	$39,249
GALLOVIC, GRANITO, & CO LTD3+ years Service code 10 · EIN 34-1723186	Accounting	$20,050
MACALA & PIATT, LLC2 years Filed as: MACALA & PIATTA, L.L.C. Service code 29 · EIN 34-1933033	Legal	$8,881
TODD EUGENE HOLT3+ years Filed as: TODD ASSOCIATES INC Service code 23 · EIN 34-0727780	Insurance services	$5,142

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

3 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.
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

$128K

$303 / participant

Investment mgmt$45K34.9%
Contract admin$39K30.7%
Other / not subdivided$44K34.3%

% of EOY assets

0.318%

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

$95,246

$60,545+57.3%

$92,240+3.3%

$69,631+36.8%

Participation rate

63.7%

72.2%-8.4pp

76.5%-12.7pp

70.7%-6.9pp

Annual return

12.80%

19.71%-6.9pp

176.29%-163.5pp

27571.02%-27558.2pp

Employer contribution / active EE

$1,579

$2,633-40.0%

$3,680-57.1%

$2,032-22.3%

Participant deferral / active EE

$132

$2,828-95.3%

$3,897-96.6%

$3,224-95.9%

Admin fee / account holder

$303

$145+109.0%

$5,194-94.2%

$110+174.0%

Provider

Service type

Compensation

INVESCO2 years

Filed as: INVESCO TRUST COMPANY

Service code 28 · EIN 46-3793325

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

Investment Management

$135,488

UBS FINANCIAL SERVICES INC3+ years

Service code 27 · EIN 13-2638166

1000 HARBOR BLVD FL 8 · WEEHAWKEN, NJ 07086

Advisory (Plan)

$44,596

JOHN HANCOCK LIFE INSURANCE COMPANY2 years

Filed as: JOHN HANCOCK RETIRMENT PLAN SVCS

Service code 15 · EIN 45-3008106

690 CANTON STREET · WESTWOOD, MA 02090

Recordkeeping

$42,037

IBEW 673 FRINGE BENEFIT FUNDS INC3+ years

Service code 13 · EIN 34-1323834

Contract Administrator

$39,249

GALLOVIC, GRANITO, & CO LTD3+ years

Service code 10 · EIN 34-1723186

Accounting

$20,050

MACALA & PIATT, LLC2 years

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

Service code 29 · EIN 34-1933033

Legal

$8,881

TODD EUGENE HOLT3+ years

Filed as: TODD ASSOCIATES INC

Service code 23 · EIN 34-0727780

Insurance services

$5,142

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