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 (2019) 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 2019

8356 MUNSON ROAD - MENTOR, OH 44060440-255-3414

Other plans on this EIN

1 filing

#001Retirement-$83.3M assets

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$43.3M

+16.4% from 2018

Total participants

416

-1.2% from 2018

Average account balance

$106,447

+15.3% from 2018

Annual return

19.47%

+23.75 pp from 2018

Benchmarks

See 2,830 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort2,830 peers

Snapshot2019

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 6 by compensation

Provider	Service type	Compensation
INVESCO4 years Filed as: INVESCO TRUST COMPANY Service code 28 · EIN 46-3793325 11 GREENWAY PLAZA · HOUSTON, TX 77046	Investment Management	$201,806
UBS FINANCIAL SERVICES INC5+ years Service code 27 · EIN 13-2638166 1000 HARBOR BLVD, 6TH FL · WEEHAWKEN, NJ 07086	Advisory (Plan)	$47,915
JOHN HANCOCK LIFE INSURANCE COMPANY5+ years Filed as: JOHN HANCOCK RETIREMENT PLAN SVCS Service code 15 · EIN 45-3008106 690 CANTON STREET · WESTWOOD, MA 02090	Recordkeeping	$38,271
IBEW 673 FRINGE BENEFIT FUNDS INC5+ years Service code 13 · EIN 34-1323834 8356 MUNSON RD · MENTOR, OH 44060	Contract Administrator	$27,745
GALLOVIC, GRANITO, & CO LTD5+ years Service code 10 · EIN 34-1723186 8518 MENTOR AVE STE A · MENTOR, OH 44060	Accounting	$22,275
MACALA & PIATT, LLC2 years Filed as: MACALA & PIATT, L.L.C. Service code 29 · EIN 34-1933033 601 S MAIN ST · NORTH CANTON, OH 44720	Legal	$14,745

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

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

$131K

$719 / participant

Investment mgmt$48K36.6%
Contract admin$28K21.2%
Other / not subdivided$55K42.2%

% of EOY assets

0.302%

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

$106,447

$63,114+68.7%

$92,915+14.6%

$65,186+63.3%

Participation rate

95.1%

68.8%+26.3pp

76.0%+19.0pp

70.2%+24.9pp

Annual return

19.47%

28.75%-9.3pp

109.45%-90.0pp

29.39%-9.9pp

Employer contribution / active EE

$3,434

$2,571+33.6%

$3,653-6.0%

$2,177+57.8%

Participant deferral / active EE

$2,126

$3,108-31.6%

$4,238-49.8%

$3,514-39.5%

Admin fee / account holder

$322

$624-48.4%

$5,796-94.5%

$847-62.0%

Provider

Service type

Compensation

INVESCO4 years

Filed as: INVESCO TRUST COMPANY

Service code 28 · EIN 46-3793325

11 GREENWAY PLAZA · HOUSTON, TX 77046

Investment Management

$201,806

UBS FINANCIAL SERVICES INC5+ years

Service code 27 · EIN 13-2638166

1000 HARBOR BLVD, 6TH FL · WEEHAWKEN, NJ 07086

Advisory (Plan)

$47,915

JOHN HANCOCK LIFE INSURANCE COMPANY5+ years

Filed as: JOHN HANCOCK RETIREMENT PLAN SVCS

Service code 15 · EIN 45-3008106

690 CANTON STREET · WESTWOOD, MA 02090

Recordkeeping

$38,271

IBEW 673 FRINGE BENEFIT FUNDS INC5+ years

Service code 13 · EIN 34-1323834

8356 MUNSON RD · MENTOR, OH 44060

Contract Administrator

$27,745

GALLOVIC, GRANITO, & CO LTD5+ years

Service code 10 · EIN 34-1723186

8518 MENTOR AVE STE A · MENTOR, OH 44060

Accounting

$22,275

MACALA & PIATT, LLC2 years

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

Service code 29 · EIN 34-1933033

601 S MAIN ST · NORTH CANTON, OH 44720

Legal

$14,745

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