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 (2022) 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 2022

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)

$40.2M

-15.8% from 2021

Total participants

221

+7.3% from 2021

Average account balance

$181,708

-21.5% from 2021

Annual return

-14.98%

-29.66 pp from 2021

Benchmarks

See 2,998 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants100-249

Cohort2,998 peers

Snapshot2022

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 COMPANY2 years Service code 29 2600 SOUTHWEST BLVD · KANSAS CITY, MO 64108	Legal	$47,625
INVESTMENT CONSULTING GROUP8+ years Filed as: INVESTMENT CONSULTING GROUP, INC. Service code 27 · EIN 42-1358707	Advisory (Plan)	$17,000
CALIBRE CPA GROUP PLLC4 years Filed as: CALIBRE CPA GROUP, PLLC Service code 10 · EIN 47-0900880	Accounting	$12,500
LEE CPA AUDIT GROUP4 years Filed as: RJ LEE & ASSOCIATES L.C. Service code 27 · EIN 42-1513015	Advisory (Plan)	$12,013
SCHUCHAT, COOK & WERNER3 years Filed as: SCHUCHAT, COOK, & WERNER Service code 29 555 WASHINGTON AVE · ST LOUIS, MO 63101	Legal	$9,111

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

$107K

$667 / participant

Investment mgmt$65K60.6%
Contract admin$12K11.3%
Other / not subdivided$30K28.1%

% of EOY assets

0.266%

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

$181,708

$64,176+183.1%

$112,263+61.9%

$66,949+171.4%

Participation rate

100.0%

68.4%+31.6pp

75.1%+24.9pp

69.8%+30.2pp

Annual return

-14.98%

-13.80%-1.2pp

27.49%-42.5pp

1.57%-16.6pp

Employer contribution / active EE

$12,422

$3,007+313.1%

$3,636+241.6%

$2,545+388.0%

Participant deferral / active EE

$1,116

$3,694-69.8%

$4,729-76.4%

$4,239-73.7%

Admin fee / account holder

$483

$626-22.9%

$6,410-92.5%

$594-18.7%

Provider

Service type

Compensation

MATRIX TRUST COMPANY2 years

Service code 29

2600 SOUTHWEST BLVD · KANSAS CITY, MO 64108

Legal

$47,625

INVESTMENT CONSULTING GROUP8+ years

Filed as: INVESTMENT CONSULTING GROUP, INC.

Service code 27 · EIN 42-1358707

Advisory (Plan)

$17,000

CALIBRE CPA GROUP PLLC4 years

Filed as: CALIBRE CPA GROUP, PLLC

Service code 10 · EIN 47-0900880

Accounting

$12,500

LEE CPA AUDIT GROUP4 years

Filed as: RJ LEE & ASSOCIATES L.C.

Service code 27 · EIN 42-1513015

Advisory (Plan)

$12,013

SCHUCHAT, COOK & WERNER3 years

Filed as: SCHUCHAT, COOK, & WERNER

Service code 29

555 WASHINGTON AVE · ST LOUIS, MO 63101

Legal

$9,111

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