Retirement plan

IBEW LOCAL 405 DEFERRED SAVINGS PLAN

Name: BOARD OF TRUSTEES, IBEW LOCAL 405 DEFERRED SAVINGS PLAN - IBEW LOCAL 405 DEFERRED SAVINGS PLAN (2019) Form 5500
Creator: BOARD OF TRUSTEES, IBEW LOCAL 405 DEFERRED SAVINGS PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IBEW LOCAL 405 DEFERRED SAVINGS PLAN, BOARD OF TRUSTEES, IBEW LOCAL 405 DEFERRED SAVINGS PLAN

BOARD OF TRUSTEES, IBEW LOCAL 405 DEFERRED SAVINGS PLANEIN 42-1494475Plan #001PY 2019

424 FIRST AVENUE NE, SUITE 200 - CEDAR RAPIDS, IA 524011400319-398-3283

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$182.2M

+21.6% from 2018

Total participants

890

-24.3% from 2018

Average account balance

$215,124

+26.5% from 2018

Annual return

19.61%

+24.53 pp from 2018

Benchmarks

See 1,258 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,258 peers

Snapshot2019

See peer percentile detail. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

Start for $4.99 See plans

Analytics

Total assets (EOY)

Plan-year ending balance

$296.43M

Not enough data

1 years with asset history on file

Average account balance

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

$209K

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.

1,418

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

$18.46M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

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

+12.68%

Not enough data

1 years with return on file

Admin fee / account holder

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

$217

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

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

Start for $4.99 See plans

Service providers

Top 7 by compensation

Provider	Service type	Compensation
WELLS FARGO BANK, N.A.5+ years Service code 15 · EIN 94-1347393	Recordkeeping	$152,561
REINHART BOERNER VAN DEUREN S.C.5+ years Filed as: REINHART BOERNER VAN DEUREN Service code 29 · EIN 39-1126909	Legal	$83,995
DIMEO SCHNEIDER & ASSOCIATES LLC5+ years Filed as: DIMEO SCHNEIDER & ASSOCIATES, LLC Service code 27 · EIN 36-4001764	Advisory (Plan)	$38,798
EMPLOYEE GROUP SERVICES LTD DBA AUX5+ years Service code 13 · EIN 42-1426202	Contract Administrator	$26,415
CLIFTONLARSONALLEN LLP2 years Service code 10 · EIN 41-0746749	Accounting	$22,757
MILLIMAN, INC.1 year Service code 15 · EIN 91-0675641	Recordkeeping	$15,422
MATRIX TRUST COMPANY1 year Filed as: BROADRIDGE FINANCIAL SOLUTIONS, INC Service code 21 5 DAKOTA DRIVE · LAKE SUCCESS, NY 11042	Bank Trustee	$7,482

Plan features & details

Pension benefit codes2E2H2J2T

Plan features

2E
Profit-sharing
Profit-sharing plan.
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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

$369K

$524 / participant

Investment mgmt$191K51.9%
Contract admin$49K13.4%
Other / not subdivided$128K34.7%

% of EOY assets

0.202%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: CLIFTONLARSONALLEN LLP
Auditor EIN: 410746749
Audit fees: (not subdivided)
Opinion code: Unqualified

Look up a plan sponsor by EIN. Free Form 5500 search. No signup.

Metric

This plan

Peer set

Industry

Size

Avg account balance

$215,124

$66,601+223.0%

$92,893+131.6%

$67,579+218.3%

Participation rate

93.9%

72.5%+21.4pp

76.0%+17.9pp

71.3%+22.6pp

Annual return

19.61%

92.58%-73.0pp

109.41%-89.8pp

378.56%-358.9pp

Employer contribution / active EE

$12,751

$2,775+359.4%

$3,653+249.1%

$2,148+493.7%

Participant deferral / active EE

$1,324

$3,157-58.0%

$4,236-68.7%

$3,539-62.6%

Admin fee / account holder

$435

$199+118.9%

$5,794-92.5%

$142+205.9%

Provider

Service type

Compensation

WELLS FARGO BANK, N.A.5+ years

Service code 15 · EIN 94-1347393

Recordkeeping

$152,561

REINHART BOERNER VAN DEUREN S.C.5+ years

Filed as: REINHART BOERNER VAN DEUREN

Service code 29 · EIN 39-1126909

Legal

$83,995

DIMEO SCHNEIDER & ASSOCIATES LLC5+ years

Filed as: DIMEO SCHNEIDER & ASSOCIATES, LLC

Service code 27 · EIN 36-4001764

Advisory (Plan)

$38,798

EMPLOYEE GROUP SERVICES LTD DBA AUX5+ years

Service code 13 · EIN 42-1426202

Contract Administrator

$26,415

CLIFTONLARSONALLEN LLP2 years

Service code 10 · EIN 41-0746749

Accounting

$22,757

MILLIMAN, INC.1 year

Service code 15 · EIN 91-0675641

Recordkeeping

$15,422

MATRIX TRUST COMPANY1 year

Filed as: BROADRIDGE FINANCIAL SOLUTIONS, INC

Service code 21

5 DAKOTA DRIVE · LAKE SUCCESS, NY 11042

Bank Trustee

$7,482

IBEW LOCAL 405 DEFERRED SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IBEW LOCAL 405 DEFERRED SAVINGS 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