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 (2019) 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 2019

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)

$38.9M

+18.5% from 2018

Total participants

205

+2.5% from 2018

Average account balance

$189,936

+15.6% from 2018

Annual return

21.10%

+29.79 pp from 2018

Benchmarks

See 2,830 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort2,830 peers

Snapshot2019

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 NA5+ years Filed as: BMO FINANCIAL GROUP Service code 15 · EIN 36-2085229	Recordkeeping	$56,431
INVESTMENT CONSULTING GROUP5+ years Filed as: INVESTMENT CONSULTING GROUP, INC. Service code 27 · EIN 42-1358707	Advisory (Plan)	$10,500
LEE CPA AUDIT GROUP1 year Filed as: RJ LEE & ASSOCIATES L.C. Service code 27 · EIN 42-1513015	Advisory (Plan)	$10,321
CALIBRE CPA GROUP PLLC1 year Filed as: CALIBRE CPA GROUP, PLLC Service code 10 · EIN 47-0900880	Accounting	$10,000
HARVEY & STUCKEL5+ years Service code 29 · EIN 37-1064984	Legal	$8,390

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

$108K

$581 / participant

Investment mgmt$67K62.0%
Contract admin$10K9.6%
Other / not subdivided$31K28.5%

% of EOY assets

0.277%

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: CALIBRE CPA GROUP, PLLC
Auditor EIN: 470990088
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$189,936

$63,114+200.9%

$92,915+104.4%

$65,186+191.4%

Participation rate

100.0%

68.8%+31.2pp

76.0%+24.0pp

70.2%+29.8pp

Annual return

21.10%

28.75%-7.7pp

109.45%-88.3pp

29.39%-8.3pp

Employer contribution / active EE

$8,003

$2,571+211.3%

$3,653+119.0%

$2,177+267.6%

Participant deferral / active EE

$790

$3,108-74.6%

$4,238-81.4%

$3,514-77.5%

Admin fee / account holder

$527

$624-15.5%

$5,796-90.9%

$847-37.8%

Provider

Service type

Compensation

BMO HARRIS BANK NA5+ years

Filed as: BMO FINANCIAL GROUP

Service code 15 · EIN 36-2085229

Recordkeeping

$56,431

INVESTMENT CONSULTING GROUP5+ years

Filed as: INVESTMENT CONSULTING GROUP, INC.

Service code 27 · EIN 42-1358707

Advisory (Plan)

$10,500

LEE CPA AUDIT GROUP1 year

Filed as: RJ LEE & ASSOCIATES L.C.

Service code 27 · EIN 42-1513015

Advisory (Plan)

$10,321

CALIBRE CPA GROUP PLLC1 year

Filed as: CALIBRE CPA GROUP, PLLC

Service code 10 · EIN 47-0900880

Accounting

$10,000

HARVEY & STUCKEL5+ years

Service code 29 · EIN 37-1064984

Legal

$8,390

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