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 (2021) 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 2021

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)

$47.7M

+11.9% from 2020

Total participants

206

+3.0% from 2020

Average account balance

$231,437

+8.6% from 2020

Annual return

14.68%

+0.25 pp from 2020

Benchmarks

See 2,980 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort2,980 peers

Snapshot2021

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 6 by compensation

Provider	Service type	Compensation
BMO HARRIS BANK NA7+ years Filed as: BMO FINANCIAL GROUP Service code 15 · EIN 36-2085229	Recordkeeping	$38,564
INVESTMENT CONSULTING GROUP7+ years Filed as: INVESTMENT CONSULTING GROUP, INC. Service code 27 · EIN 42-1358707	Advisory (Plan)	$17,000
LEE CPA AUDIT GROUP3 years Filed as: RJ LEE & ASSOCIATES L.C. Service code 27 · EIN 42-1513015	Advisory (Plan)	$11,821
CALIBRE CPA GROUP PLLC3 years Filed as: CALIBRE CPA GROUP, PLLC Service code 10 · EIN 47-0900880	Accounting	$10,000
SCHUCHAT, COOK & WERNER2 years Filed as: SCHUCHAT, COOK, & WERNER Service code 29 555 WASHINGTON AVE · ST LOUIS, MO 63101	Legal	$9,090
MATRIX TRUST COMPANY1 year Service code 29 2600 SOUTHWEST BLVD · KANSAS CITY, MO 64108	Legal	$7,866

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

$106K

$559 / participant

Investment mgmt$64K60.4%
Contract admin$12K11.2%
Other / not subdivided$30K28.4%

% of EOY assets

0.221%

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: 470900880
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$231,437

$77,677+197.9%

$109,173+112.0%

$79,391+191.5%

Participation rate

100.0%

67.8%+32.2pp

75.9%+24.1pp

70.7%+29.3pp

Annual return

14.68%

23.44%-8.8pp

25.75%-11.1pp

116.88%-102.2pp

Employer contribution / active EE

$8,801

$2,798+214.5%

$3,723+136.4%

$2,428+262.5%

Participant deferral / active EE

$739

$3,517-79.0%

$4,654-84.1%

$4,046-81.7%

Admin fee / account holder

$512

$732-30.0%

$6,755-92.4%

$627-18.2%

Provider

Service type

Compensation

BMO HARRIS BANK NA7+ years

Filed as: BMO FINANCIAL GROUP

Service code 15 · EIN 36-2085229

Recordkeeping

$38,564

INVESTMENT CONSULTING GROUP7+ years

Filed as: INVESTMENT CONSULTING GROUP, INC.

Service code 27 · EIN 42-1358707

Advisory (Plan)

$17,000

LEE CPA AUDIT GROUP3 years

Filed as: RJ LEE & ASSOCIATES L.C.

Service code 27 · EIN 42-1513015

Advisory (Plan)

$11,821

CALIBRE CPA GROUP PLLC3 years

Filed as: CALIBRE CPA GROUP, PLLC

Service code 10 · EIN 47-0900880

Accounting

$10,000

SCHUCHAT, COOK & WERNER2 years

Filed as: SCHUCHAT, COOK, & WERNER

Service code 29

555 WASHINGTON AVE · ST LOUIS, MO 63101

Legal

$9,090

MATRIX TRUST COMPANY1 year

Service code 29

2600 SOUTHWEST BLVD · KANSAS CITY, MO 64108

Legal

$7,866

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