Retirement plan

IRONWORKERS LOCAL 380 RETIREMENT AND SEVERANCE PLAN

Name: IRONWORKERS LOCAL 380 RETIREMENT AND SEV FUND - IRONWORKERS LOCAL 380 RETIREMENT AND SEVERANCE PLAN (2022) Form 5500
Creator: IRONWORKERS LOCAL 380 RETIREMENT AND SEV FUND
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IRONWORKERS LOCAL 380 RETIREMENT AND SEVERANCE PLAN, IRONWORKERS LOCAL 380 RETIREMENT AND SEV FUND

IRONWORKERS LOCAL 380 RETIREMENT AND SEV FUNDEIN 37-6122834Plan #001PY 2022

1602 EAST BUTZOW DRIVE - URBANA, IL 618022008217-367-6014

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$31M

-1.2% from 2021

Total participants

961

+39.3% from 2021

Average account balance

$50,297

-25.5% from 2021

Annual return

3.16%

-28.54 pp from 2021

Benchmarks

See 1,393 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,393 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$35.57M

Not enough data

1 years with asset history on file

Average account balance

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

$67K

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.

533

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.

36.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.44M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+3.08%

Not enough data

1 years with return on file

Admin fee / account holder

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

$462

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 9 by compensation

Provider	Service type	Compensation
MACNELL ACCOUNTING & CONSULTING,LLP7+ years Service code 10 · EIN 30-0510353	Accounting	$48,727
FUTURE PLAN CONSULTING - FORT WAYNE2 years Filed as: FUTURE PLAN-BPC Service code 14 2110 CLEARLAKE BLVD., SUITE 200 · CHAMPAIGN, IL 61822	Plan Administrator	$44,900
HUNT INSURANCE AGENCY, INC.3 years Service code 22 · EIN 36-2730032	Insurance Broker	$35,571
CLIFTONLARSONALLEN LLP1 year Filed as: CLIFTONLARSONALLEN Service code 10 · EIN 41-0746749	Accounting	$23,835
CHARLES SCHWAB & CO., INC.7+ years Filed as: CHARLES BLACK Service code 20 · EIN 37-6122834	Trustee (individual); Direct payment ...	$18,247
MARTIN HOOD LLC1 year Filed as: MARTIN HOOD, LLC Service code 10 2507 S. NELL STREET · CHAMPAIGN, IL 61820	Accounting	$12,747
WELLS FARGO BANK, N.A.4 years Filed as: WELLS FARGO ADVISORS Service code 28 · EIN 23-2384840	Investment Management	$7,609
IRONWORKERS LOCAL UNION 3807+ years Service code 14 · EIN 37-6122834	Plan Administrator	$6,058
GREGORIO MARCO7+ years Filed as: GREGORIO & ASSOCIATES Service code 29 · EIN 36-4028033	Legal	$5,003

Plan features & details

Pension benefit codes2C2F2G2T

Plan features

2C
Money purchase plan
Money purchase pension plan other than a target benefit plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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

$201K

$222 / participant

Investment mgmt$35K17.6%
Contract admin$56K27.7%
Other / not subdivided$110K54.8%

% of EOY assets

0.648%

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: MACNELL ACCOUNTING & CONSULTING,LLP
Auditor EIN: 300510353
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$50,297

$106,236-52.7%

$112,249-55.2%

$64,819-22.4%

Participation rate

62.1%

71.7%-9.6pp

75.1%-13.0pp

71.5%-9.4pp

Annual return

3.16%

-6.02%+9.2pp

27.48%-24.3pp

32.84%-29.7pp

Employer contribution / active EE

$3,770

$3,166+19.1%

$3,636+3.7%

$2,507+50.4%

Participant deferral / active EE

$3,785-100.0%

$4,729-100.0%

$4,311-100.0%

Admin fee / account holder

$326

$452-27.8%

$6,412-94.9%

$188+73.5%

Provider

Service type

Compensation

MACNELL ACCOUNTING & CONSULTING,LLP7+ years

Service code 10 · EIN 30-0510353

Accounting

$48,727

FUTURE PLAN CONSULTING - FORT WAYNE2 years

Filed as: FUTURE PLAN-BPC

Service code 14

2110 CLEARLAKE BLVD., SUITE 200 · CHAMPAIGN, IL 61822

Plan Administrator

$44,900

HUNT INSURANCE AGENCY, INC.3 years

Service code 22 · EIN 36-2730032

Insurance Broker

$35,571

CLIFTONLARSONALLEN LLP1 year

Filed as: CLIFTONLARSONALLEN

Service code 10 · EIN 41-0746749

Accounting

$23,835

CHARLES SCHWAB & CO., INC.7+ years

Filed as: CHARLES BLACK

Service code 20 · EIN 37-6122834

Trustee (individual); Direct payment ...

$18,247

MARTIN HOOD LLC1 year

Filed as: MARTIN HOOD, LLC

Service code 10

2507 S. NELL STREET · CHAMPAIGN, IL 61820

Accounting

$12,747

WELLS FARGO BANK, N.A.4 years

Filed as: WELLS FARGO ADVISORS

Service code 28 · EIN 23-2384840

Investment Management

$7,609

IRONWORKERS LOCAL UNION 3807+ years

Service code 14 · EIN 37-6122834

Plan Administrator

$6,058

GREGORIO MARCO7+ years

Filed as: GREGORIO & ASSOCIATES

Service code 29 · EIN 36-4028033

Legal

$5,003

IRONWORKERS LOCAL 380 RETIREMENT AND SEVERANCE PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IRONWORKERS LOCAL 380 RETIREMENT AND SEVERANCE 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