Retirement plan

I.B.E.W. LOCAL NO. 704 401(K) PLAN

Name: BOARD OF TRUSTEES IBEW LOCAL 704 RETIREMENT INCOME PLAN - I.B.E.W. LOCAL NO. 704 401(K) PLAN (2024) Form 5500
Creator: BOARD OF TRUSTEES IBEW LOCAL 704 RETIREMENT INCOME PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, I.B.E.W. LOCAL NO. 704 401(K) PLAN, BOARD OF TRUSTEES IBEW LOCAL 704 RETIREMENT INCOME PLAN

BOARD OF TRUSTEES IBEW LOCAL 704 RETIREMENT INCOME PLANEIN 42-0328998Plan #002PY 2024

1700 52ND AVE, SUITE B - MOLINE, IL 612656378309-764-8080LinkedIn51-200 employeesconstruction

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$48.2M

+10.5% from 2023

Total participants

239

+1.7% from 2023

Average account balance

$201,683

+8.6% from 2023

Annual return

12.46%

-1.22 pp from 2023

Benchmarks

See 3,444 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort3,444 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$48.20M

Not enough data

1 years with asset history on file

Average account balance

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

$202K

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.

239

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

$2.29M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+12.46%

Not enough data

1 years with return on file

Admin fee / account holder

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

$532

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
MATRIX TRUST COMPANY4 years Service code 29 2600 SOUTHWEST BLVD · KANSAS CITY, MO 64108	Legal	$46,302
SCHUCHAT, COOK & WERNER5 years Filed as: SCHUCHAT, COOK, & WERNER Service code 29 555 WASHINGTON AVE · ST LOUIS, MO 63101	Legal	$19,915
INVESTMENT CONSULTING GROUP10+ years Filed as: INVESTMENT CONSULTING GROUP, INC. Service code 27 · EIN 42-1358707	Advisory (Plan)	$17,500
LEE CPA AUDIT GROUP6 years Filed as: RJ LEE & ASSOCIATES L.C. Service code 27 · EIN 42-1513015	Advisory (Plan)	$15,492
CALIBRE CPA GROUP PLLC6 years Filed as: CALIBRE CPA GROUP, PLLC Service code 10 · EIN 47-0900880	Accounting	$12,000

Plan features & details

Pension benefit codes2G2J2T

Plan features

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.
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.
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 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

$127K

$707 / participant

Recordkeeping$46K36.4%
Investment mgmt$18K13.8%
Legal$20K15.7%
Other trustee fees$1K1.0%
Contract admin$15K12.2%
Other / not subdivided$27K21.0%

% of EOY assets

0.264%

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: CALIBRE CPA GROUP PLLC
Auditor EIN: 470900880
Audit fees: $12,080
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$201,683

$80,781+149.7%

$102,437+96.9%

$74,478+170.8%

Participation rate

100.0%

65.7%+34.3pp

74.5%+25.5pp

67.2%+32.8pp

Annual return

12.46%

27.58%-15.1pp

24.95%-12.5pp

1370.56%-1358.1pp

Employer contribution / active EE

$11,665

$3,160+269.2%

$3,871+201.4%

$2,626+344.2%

Participant deferral / active EE

$1,076

$3,862-72.1%

$5,060-78.7%

$4,350-75.3%

Admin fee / account holder

$532

$2,372-77.6%

$8,388-93.7%

$1,946-72.6%

Provider

Service type

Compensation

MATRIX TRUST COMPANY4 years

Service code 29

2600 SOUTHWEST BLVD · KANSAS CITY, MO 64108

Legal

$46,302

SCHUCHAT, COOK & WERNER5 years

Filed as: SCHUCHAT, COOK, & WERNER

Service code 29

555 WASHINGTON AVE · ST LOUIS, MO 63101

Legal

$19,915

INVESTMENT CONSULTING GROUP10+ years

Filed as: INVESTMENT CONSULTING GROUP, INC.

Service code 27 · EIN 42-1358707

Advisory (Plan)

$17,500

LEE CPA AUDIT GROUP6 years

Filed as: RJ LEE & ASSOCIATES L.C.

Service code 27 · EIN 42-1513015

Advisory (Plan)

$15,492

CALIBRE CPA GROUP PLLC6 years

Filed as: CALIBRE CPA GROUP, PLLC

Service code 10 · EIN 47-0900880

Accounting

$12,000

I.B.E.W. LOCAL NO. 704 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

I.B.E.W. LOCAL NO. 704 401(K) 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