Retirement plan

I.B.E.W. LOCAL UNION 481 DEFINED CONTRIBUTION PLAN

Name: IBEW LOCAL UNION 481 DEFINED CONTRIBUTION - I.B.E.W. LOCAL UNION 481 DEFINED CONTRIBUTION PLAN (2024) Form 5500
Creator: IBEW LOCAL UNION 481 DEFINED CONTRIBUTION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, I.B.E.W. LOCAL UNION 481 DEFINED CONTRIBUTION PLAN, IBEW LOCAL UNION 481 DEFINED CONTRIBUTION

IBEW LOCAL UNION 481 DEFINED CONTRIBUTIONEIN 35-1501496Plan #003PY 2024

1828 N. MERIDIAN STREET - INDIANAPOLIS, IN 46202317-923-4577

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$268.4M

-8.7% from 2017

Total participants

3,179

+2.0% from 2017

Average account balance

$84,420

-10.5% from 2017

Annual return

11.69%

-12.27 pp from 2017

Benchmarks

See 560 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort560 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$295.71M

Not enough data

1 years with asset history on file

Average account balance

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

$89K

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.

3,320

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

$16.70M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+10.46%

Not enough data

1 years with return on file

Admin fee / account holder

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

$195

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 5 by compensation

Provider	Service type	Compensation
JOHN HANCOCK LIFE INSURANCE COMPANY7 years Filed as: JOHN HANCOCK RETIREMENT PLAN SERVIC Service code 15 · EIN 01-0233346	Recordkeeping	$192,749
MORGAN STANLEY SMITH BARNEY2 years Filed as: MORGAN STANLEY SMITH BARNEY LLC Service code 27 · EIN 11-3658445	Advisory (Plan)	$75,000
DAVID RAY8 years Service code 14 · EIN 35-1501496	Plan Administrator	$68,004
LEGACY PROFESSIONALS LLP4 years Service code 10 · EIN 32-0043599	Accounting	$33,629
ASCENSUS LLC5 years Filed as: LEDBETTER & PARISI, LLC Service code 29 · EIN 03-0599899	Legal	$20,472

Plan features & details

Pension benefit codes2E2G2T

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.
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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$550K

$184 / participant

Recordkeeping$195K35.5%
Investment mgmt$75K13.6%
Legal$20K3.7%
Salaries / allowances$124K22.5%
Other trustee fees$17K3.1%
Other / not subdivided$119K21.6%

% of EOY assets

0.205%

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: LEGACY PROFESSIONALS LLP
Auditor EIN: 320043599
Audit fees: $31,000
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$84,420

$241,850-65.1%

$102,437-17.6%

$200,096-57.8%

Participation rate

100.0%

78.3%+21.7pp

74.5%+25.5pp

72.0%+28.0pp

Annual return

11.69%

17.67%-6.0pp

24.95%-13.3pp

34.26%-22.6pp

Employer contribution / active EE

$4,546

$4,253+6.9%

$3,871+17.4%

$3,038+49.6%

Participant deferral / active EE

$3,961-100.0%

$5,060-100.0%

$5,090-100.0%

Admin fee / account holder

$173

$288-39.9%

$8,388-97.9%

$269-35.7%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY7 years

Filed as: JOHN HANCOCK RETIREMENT PLAN SERVIC

Service code 15 · EIN 01-0233346

Recordkeeping

$192,749

MORGAN STANLEY SMITH BARNEY2 years

Filed as: MORGAN STANLEY SMITH BARNEY LLC

Service code 27 · EIN 11-3658445

Advisory (Plan)

$75,000

DAVID RAY8 years

Service code 14 · EIN 35-1501496

Plan Administrator

$68,004

LEGACY PROFESSIONALS LLP4 years

Service code 10 · EIN 32-0043599

Accounting

$33,629

ASCENSUS LLC5 years

Filed as: LEDBETTER & PARISI, LLC

Service code 29 · EIN 03-0599899

Legal

$20,472

I.B.E.W. LOCAL UNION 481 DEFINED CONTRIBUTION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

I.B.E.W. LOCAL UNION 481 DEFINED CONTRIBUTION 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