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 (2023) 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 2023

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

Prospect flagsLow returnsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$115.9M

+7.1% from 2022

Total participants

1,976

+8.6% from 2022

Average account balance

$58,673

-1.4% from 2022

Annual return

8.87%

+18.93 pp from 2022

Benchmarks

See 531 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort531 peers

Snapshot2023

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

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

Service providers

Top 8 by compensation

Provider	Service type	Compensation
JOHN HANCOCK LIFE INSURANCE COMPANY7 years Filed as: JOHN HANCOCK Service code 15 · EIN 01-0233346	Recordkeeping	$377,161
MEKETA INVESTMENT GROUP8+ years Service code 27 · EIN 04-2659023	Advisory (Plan)	$71,000
JPMORGAN INVEST HOLDINGS LLC8+ years Filed as: CHEVY CHASE TRUST COMPANY Service code 28 · EIN 52-2037618	Investment Management	$58,640
KOVITZ INVESTMENT GROUP6 years Filed as: KOVITZ SECURITIES LLC Service code 28 · EIN 91-2198169	Investment Management	$49,925
TIC INTERNATIONAL CORPORATION8+ years Service code 14 · EIN 13-2600875	Plan Administrator	$27,961
LEGACY PROFESSIONALS LLP8+ years Service code 10 · EIN 32-0043599	Accounting	$23,630
ASHER, GITTLER & D'ALBA, LTD.8+ years Service code 29 · EIN 36-2786883	Legal	$12,195
AMALGAMATED BANK8+ years Service code 28 · EIN 13-4920330	Investment Management	$823

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

3 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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$792K

$655 / participant

Investment mgmt$688K86.8%
Contract admin$23K2.9%
Other / not subdivided$81K10.2%

% of EOY assets

0.683%

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

$58,673

$88,479-33.7%

$96,515-39.2%

$80,157-26.8%

Participation rate

100.0%

79.9%+20.1pp

74.3%+25.7pp

72.9%+27.1pp

Annual return

8.87%

22.53%-13.7pp

35.73%-26.9pp

40.39%-31.5pp

Employer contribution / active EE

$7,926

$4,177+89.8%

$3,740+111.9%

$2,977+166.2%

Participant deferral / active EE

$424

$3,961-89.3%

$4,880-91.3%

$5,015-91.6%

Admin fee / account holder

$401

$211+89.5%

$6,735-94.1%

$145+176.4%

Provider

Service type

Compensation

JOHN HANCOCK LIFE INSURANCE COMPANY7 years

Filed as: JOHN HANCOCK

Service code 15 · EIN 01-0233346

Recordkeeping

$377,161

MEKETA INVESTMENT GROUP8+ years

Service code 27 · EIN 04-2659023

Advisory (Plan)

$71,000

JPMORGAN INVEST HOLDINGS LLC8+ years

Filed as: CHEVY CHASE TRUST COMPANY

Service code 28 · EIN 52-2037618

Investment Management

$58,640

KOVITZ INVESTMENT GROUP6 years

Filed as: KOVITZ SECURITIES LLC

Service code 28 · EIN 91-2198169

Investment Management

$49,925

TIC INTERNATIONAL CORPORATION8+ years

Service code 14 · EIN 13-2600875

Plan Administrator

$27,961

LEGACY PROFESSIONALS LLP8+ years

Service code 10 · EIN 32-0043599

Accounting

$23,630

ASHER, GITTLER & D'ALBA, LTD.8+ years

Service code 29 · EIN 36-2786883

Legal

$12,195

AMALGAMATED BANK8+ years

Service code 28 · EIN 13-4920330

Investment Management

$823

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