Retirement plan

PENSION PLAN FOR THE LOCAL UNION NO. 131 INTERNATIONAL BROTHERHOOD OF ELECTRICAL WRKRS

Name: BOARD OF TRUSTEES OF THE PEN. PLAN FOR THE LOCAL UNION NO. 131 IBEW - PENSION PLAN FOR THE LOCAL UNION NO. 131 INTERNATIONAL BROTHERHOOD OF ELECTRICAL WRKRS (2024) Form 5500
Creator: BOARD OF TRUSTEES OF THE PEN. PLAN FOR THE LOCAL UNION NO. 131 IBEW
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PENSION PLAN FOR THE LOCAL UNION NO. 131 INTERNATIONAL BROTHERHOOD OF ELECTRICAL WRKRS, BOARD OF TRUSTEES OF THE PEN. PLAN FOR THE LOCAL UNION NO. 131 IBEW

BOARD OF TRUSTEES OF THE PEN. PLAN FOR THE LOCAL UNION NO. 131 IBEWEIN 38-6234993Plan #001PY 2024

2002 LONDON ROAD, SUITE 300 - DULUTH, MN 55812855-633-4584

Prospect flagsLow returnsLow participant contribution

How to read this page

Total assets (EOY)

$111.6M

+8.7% from 2023

Total participants

1,017

+0.5% from 2023

Average account balance

$109,736

+8.2% from 2023

Annual return

10.23%

-1.97 pp from 2023

Benchmarks

See 562 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort562 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$111.60M

Not enough data

1 years with asset history on file

Average account balance

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

$110K

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.

1,017

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

$7.18M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+10.23%

Not enough data

1 years with return on file

Admin fee / account holder

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

$226

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 5 by compensation

Provider	Service type	Compensation
MEKETA INVESTMENT GROUP9 years Service code 27 · EIN 04-2659023	Advisory (Plan)	$68,500
REINHART BOERNER VAN DEUREN S.C.10+ years Filed as: REINHART, BOERNER, ET AL Service code 29 · EIN 39-1126909	Legal	$56,981
WILSON-MCSHANE CORPORATION2 years Filed as: WILSON MCSHANE CORPORATION Service code 10 · EIN 39-1126909	Accounting	$47,163
BENDA, GRACE, STULZ & COMPANY, P.C.1 year Filed as: BENDA, GRACE, STULZ & COMPNAY, PC Service code 10 · EIN 38-2284921	Accounting	$13,600
JOHN HANCOCK LIFE INSURANCE COMPANY5 years Filed as: JOHN HANCOCK RETIREMENT PLAN Service code 12 · EIN 01-0233346	Direct payment from the plan; Investm...	$13,595

Plan features & details

Pension benefit codes2E2H2J

Plan features

2E
Profit-sharing
Profit-sharing plan.
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.

Opportunity flags

2 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$230K

$229 / participant

Recordkeeping$1K0.6%
Trustee / custodial$14K5.9%
Investment mgmt$69K29.7%
Legal$57K24.7%
Actuarial$2K1.0%
Other trustee fees$5K2.2%
Contract admin$43K18.9%
Other / not subdivided$39K16.9%

% of EOY assets

0.206%

all-in expense ratio

Categories reported

7 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BENDA, GRACE, STULZ & COMPANY, P.C.
Auditor EIN: 382284921
Audit fees: $13,600
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$109,736

$241,101-54.5%

$103,374+6.2%

$199,768-45.1%

Participation rate

100.0%

78.3%+21.7pp

74.5%+25.5pp

72.0%+28.0pp

Annual return

10.23%

17.80%-7.6pp

24.89%-14.7pp

34.26%-24.0pp

Employer contribution / active EE

$6,812

$4,244+60.5%

$3,869+76.1%

$3,037+124.3%

Participant deferral / active EE

$325

$3,958-91.8%

$5,058-93.6%

$5,090-93.6%

Admin fee / account holder

$226

$288-21.3%

$8,394-97.3%

$269-15.8%

Provider

Service type

Compensation

MEKETA INVESTMENT GROUP9 years

Service code 27 · EIN 04-2659023

Advisory (Plan)

$68,500

REINHART BOERNER VAN DEUREN S.C.10+ years

Filed as: REINHART, BOERNER, ET AL

Service code 29 · EIN 39-1126909

Legal

$56,981

WILSON-MCSHANE CORPORATION2 years

Filed as: WILSON MCSHANE CORPORATION

Service code 10 · EIN 39-1126909

Accounting

$47,163

BENDA, GRACE, STULZ & COMPANY, P.C.1 year

Filed as: BENDA, GRACE, STULZ & COMPNAY, PC

Service code 10 · EIN 38-2284921

Accounting

$13,600

JOHN HANCOCK LIFE INSURANCE COMPANY5 years

Filed as: JOHN HANCOCK RETIREMENT PLAN

Service code 12 · EIN 01-0233346

Direct payment from the plan; Investm...

$13,595

PENSION PLAN FOR THE LOCAL UNION NO. 131 INTERNATIONAL BROTHERHOOD OF ELECTRICAL WRKRS

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PENSION PLAN FOR THE LOCAL UNION NO. 131 INTERNATIONAL BROTHERHOOD OF ELECTRICAL WRKRS

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