Retirement plan

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

Name: BOARD OF TRUSTEES IBEW LOCAL 704 RETIREMENT INC PLAN - I.B.E.W. LOCAL NO. 704 401(K) PLAN (2016) Form 5500
Creator: BOARD OF TRUSTEES IBEW LOCAL 704 RETIREMENT INC 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 INC PLAN

BOARD OF TRUSTEES IBEW LOCAL 704 RETIREMENT INC PLANEIN 42-0328998Plan #002PY 2016

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

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$33.8M

+11.8% from 2015

Total participants

205

+4.1% from 2015

Average account balance

$189,775

+11.8% from 2015

Annual return

11.03%

+14.03 pp from 2015

Benchmarks

See 2,382 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort2,382 peers

Snapshot2016

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
BMO HARRIS BANK NA2+ years Filed as: BMO FINANCIAL GROUP Service code 15	Recordkeeping	$28,383
LEE CPA AUDIT GROUP2+ years Filed as: T.N. RJ LEE & ASSOCIATES L.C. Service code 27 · EIN 42-1513015	Advisory (Plan)	$10,067
INVESTMENT CONSULTING GROUP2+ years Filed as: INVESTMENT CONSULTING GROUP, INC. Service code 27 · EIN 42-1358707	Advisory (Plan)	$10,000
HARVEY & STUCKEL2+ years Service code 29 · EIN 37-1064984	Legal	$9,503
CARPENTIER, MITCHELL, GODDARD & CO.2+ years Service code 10 · EIN 36-2662809	Accounting	$7,100

Plan features & details

Pension benefit codes2E2F2G2J2T

Plan features

2E
Profit-sharing
Profit-sharing 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.
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

$81K

$411 / participant

Investment mgmt$59K72.9%
Other / not subdivided$22K27.1%

% of EOY assets

0.239%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CARPENTIER, MITCHELL, GODDARD & CO.
Auditor EIN: 362662809
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$189,775

$52,884+258.9%

$84,753+123.9%

$55,167+244.0%

Participation rate

86.2%

67.5%+18.7pp

76.6%+9.6pp

69.0%+17.2pp

Annual return

11.03%

18.03%-7.0pp

22.78%-11.8pp

169.23%-158.2pp

Employer contribution / active EE

$7,736

$2,233+246.3%

$3,574+116.4%

$1,963+294.2%

Participant deferral / active EE

$968

$2,644-63.4%

$3,712-73.9%

$3,054-68.3%

Admin fee / account holder

$453

$581-22.0%

$5,333-91.5%

$504-10.2%

Provider

Service type

Compensation

BMO HARRIS BANK NA2+ years

Filed as: BMO FINANCIAL GROUP

Service code 15

Recordkeeping

$28,383

LEE CPA AUDIT GROUP2+ years

Filed as: T.N. RJ LEE & ASSOCIATES L.C.

Service code 27 · EIN 42-1513015

Advisory (Plan)

$10,067

INVESTMENT CONSULTING GROUP2+ years

Filed as: INVESTMENT CONSULTING GROUP, INC.

Service code 27 · EIN 42-1358707

Advisory (Plan)

$10,000

HARVEY & STUCKEL2+ years

Service code 29 · EIN 37-1064984

Legal

$9,503

CARPENTIER, MITCHELL, GODDARD & CO.2+ years

Service code 10 · EIN 36-2662809

Accounting

$7,100

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