Retirement plan

IBEW LOCAL UNION NO. 9 AND LINE CLEARANCE CONTRACT 401(K) RETIREMENT FUND

Name: TRUSTEES OF IBEW LOCAL UNION NO. 9 AND LINE CLEARANCE CONTRACTORS 401( - IBEW LOCAL UNION NO. 9 AND LINE CLEARANCE CONTRACT 401(K) RETIREMENT FUND (2021) Form 5500
Creator: TRUSTEES OF IBEW LOCAL UNION NO. 9 AND LINE CLEARANCE CONTRACTORS 401(
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IBEW LOCAL UNION NO. 9 AND LINE CLEARANCE CONTRACT 401(K) RETIREMENT FUND, TRUSTEES OF IBEW LOCAL UNION NO. 9 AND LINE CLEARANCE CONTRACTORS 401(

TRUSTEES OF IBEW LOCAL UNION NO. 9 AND LINE CLEARANCE CONTRACTORS 401(EIN 36-6519755Plan #002PY 2021

6525 CENTURION DRIVE - LANSING, MI 48917517-321-7502LinkedIn1001-5000 employeesconstruction

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$119.9M

+32.0% from 2020

Total participants

1,793

+0.6% from 2020

Average account balance

$66,893

+31.3% from 2020

Annual return

28.72%

+34.11 pp from 2020

Benchmarks

See 479 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort479 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$142.94M

Not enough data

1 years with asset history on file

Average account balance

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

$71K

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.

2,003

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

$10.88M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+9.73%

Not enough data

1 years with return on file

Admin fee / account holder

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

$216

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 9 by compensation

Provider	Service type	Compensation
JOHN HANCOCK LIFE INSURANCE COMPANY5 years Filed as: JOHN HANCOCK Service code 15 · EIN 01-0233346	Recordkeeping	$361,483
MEKETA INVESTMENT GROUP6+ years Service code 27 · EIN 04-2659023	Advisory (Plan)	$71,000
KOVITZ INVESTMENT GROUP4 years Filed as: KOVITZ SECURITIES LLC Service code 28 · EIN 91-2198169	Investment Management	$60,582
JPMORGAN INVEST HOLDINGS LLC6+ years Filed as: CHEVY CHASE TRUST COMPANY Service code 28 · EIN 52-2037618	Investment Management	$60,442
TIC INTERNATIONAL CORPORATION6+ years Service code 14 · EIN 13-2600875	Plan Administrator	$26,366
LEGACY PROFESSIONALS LLP6+ years Service code 10 · EIN 32-0043599	Accounting	$22,995
ASHER, GITTLER & D'ALBA, LTD.6+ years Service code 29 · EIN 36-2786883	Legal	$10,404
BAYVIEW DBA UNION SERVICES AGENCY6+ years Service code 22 · EIN 38-3297465	Insurance Broker	$8,332
AMALGAMATED BANK6+ years Service code 28 · EIN 13-4920330	Investment Management	$5,082

Plan features & details

Pension benefit codes2C2J

Plan features

2C
Money purchase plan
Money purchase pension plan other than a target benefit plan.
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.

Opportunity flags

2 tripped

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

$718K

$432 / participant

Investment mgmt$637K88.8%
Contract admin$23K3.1%
Other / not subdivided$58K8.1%

% of EOY assets

0.598%

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: LEGACY PROFESSIONALS LLP
Auditor EIN: 320043599
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$66,893

$88,770-24.6%

$109,173-38.7%

$93,010-28.1%

Participation rate

100.0%

81.5%+18.5pp

75.9%+24.1pp

73.9%+26.1pp

Annual return

28.72%

60.64%-31.9pp

25.75%+3.0pp

158.70%-130.0pp

Employer contribution / active EE

$5,108

$3,780+35.1%

$3,723+37.2%

$2,705+88.8%

Participant deferral / active EE

$273

$3,630-92.5%

$4,654-94.1%

$4,561-94.0%

Admin fee / account holder

$400

$172+132.4%

$6,755-94.1%

$152+164.0%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY5 years

Filed as: JOHN HANCOCK

Service code 15 · EIN 01-0233346

Recordkeeping

$361,483

MEKETA INVESTMENT GROUP6+ years

Service code 27 · EIN 04-2659023

Advisory (Plan)

$71,000

KOVITZ INVESTMENT GROUP4 years

Filed as: KOVITZ SECURITIES LLC

Service code 28 · EIN 91-2198169

Investment Management

$60,582

JPMORGAN INVEST HOLDINGS LLC6+ years

Filed as: CHEVY CHASE TRUST COMPANY

Service code 28 · EIN 52-2037618

Investment Management

$60,442

TIC INTERNATIONAL CORPORATION6+ years

Service code 14 · EIN 13-2600875

Plan Administrator

$26,366

LEGACY PROFESSIONALS LLP6+ years

Service code 10 · EIN 32-0043599

Accounting

$22,995

ASHER, GITTLER & D'ALBA, LTD.6+ years

Service code 29 · EIN 36-2786883

Legal

$10,404

BAYVIEW DBA UNION SERVICES AGENCY6+ years

Service code 22 · EIN 38-3297465

Insurance Broker

$8,332

AMALGAMATED BANK6+ years

Service code 28 · EIN 13-4920330

Investment Management

$5,082

IBEW LOCAL UNION NO. 9 AND LINE CLEARANCE CONTRACT 401(K) RETIREMENT FUND

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IBEW LOCAL UNION NO. 9 AND LINE CLEARANCE CONTRACT 401(K) RETIREMENT FUND

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