Retirement plan

IBEW LOCAL 405 DEFERRED SAVINGS PLAN

Name: BOARD OF TRUSTEES, IBEW LOCAL 405 DEFERRED SAVINGS PLAN - IBEW LOCAL 405 DEFERRED SAVINGS PLAN (2021) 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 2021

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

Prospect flagsHigh feesHigh assets / participantLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$239.6M

+14.7% from 2020

Total participants

879

+5.6% from 2020

Average account balance

$272,571

+8.3% from 2020

Annual return

15.40%

+0.09 pp from 2020

Benchmarks

See 1,300 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,300 peers

Snapshot2021

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 6 by compensation

Provider	Service type	Compensation
MILLIMAN, INC.3 years Service code 15 · EIN 91-0675641	Recordkeeping	$77,912
REINHART BOERNER VAN DEUREN S.C.7+ years Filed as: REINHART BOERNER VAN DEUREN Service code 29 · EIN 39-1126909	Legal	$54,579
EMPLOYEE GROUP SERVICES LTD DBA AUX7+ years Service code 13 · EIN 42-1426202	Contract Administrator	$33,916
FIDUCIENT ADVISORS LLC1 year Filed as: FIDUCIENT ADVISORS Service code 27 · EIN 36-4001764	Advisory (Plan)	$31,990
MATRIX TRUST COMPANY3 years Filed as: BROADRIDGE FINANCIAL SOLUTIONS, INC Service code 21 5 DAKOTA DRIVE · LAKE SUCCESS, NY 11042	Bank Trustee	$23,631
CLIFTONLARSONALLEN LLP4 years Service code 10 · EIN 41-0746749	Accounting	$23,400

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

4 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.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$265K

$397 / participant

Investment mgmt$56K21.0%
Contract admin$112K42.1%
Other / not subdivided$98K36.9%

% of EOY assets

0.111%

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

$272,571

$78,275+248.2%

$109,143+149.7%

$86,799+214.0%

Participation rate

100.0%

73.8%+26.2pp

75.9%+24.1pp

72.3%+27.7pp

Annual return

15.40%

19.14%-3.7pp

25.75%-10.4pp

97.91%-82.5pp

Employer contribution / active EE

$14,047

$3,105+352.4%

$3,722+277.4%

$2,405+484.0%

Participant deferral / active EE

$1,511

$3,641-58.5%

$4,653-67.5%

$4,131-63.4%

Admin fee / account holder

$302

$198+52.2%

$6,752-95.5%

$170+78.1%

Provider

Service type

Compensation

MILLIMAN, INC.3 years

Service code 15 · EIN 91-0675641

Recordkeeping

$77,912

REINHART BOERNER VAN DEUREN S.C.7+ years

Filed as: REINHART BOERNER VAN DEUREN

Service code 29 · EIN 39-1126909

Legal

$54,579

EMPLOYEE GROUP SERVICES LTD DBA AUX7+ years

Service code 13 · EIN 42-1426202

Contract Administrator

$33,916

FIDUCIENT ADVISORS LLC1 year

Filed as: FIDUCIENT ADVISORS

Service code 27 · EIN 36-4001764

Advisory (Plan)

$31,990

MATRIX TRUST COMPANY3 years

Filed as: BROADRIDGE FINANCIAL SOLUTIONS, INC

Service code 21

5 DAKOTA DRIVE · LAKE SUCCESS, NY 11042

Bank Trustee

$23,631

CLIFTONLARSONALLEN LLP4 years

Service code 10 · EIN 41-0746749

Accounting

$23,400

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