Retirement plan

I. B. E. W. LOCAL UNION NO. 124 ANNUITY PLAN

Name: IBEW LOCAL UNION NO. 124 - I. B. E. W. LOCAL UNION NO. 124 ANNUITY PLAN (2022) Form 5500
Creator: IBEW LOCAL UNION NO. 124
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, I. B. E. W. LOCAL UNION NO. 124 ANNUITY PLAN, IBEW LOCAL UNION NO. 124

IBEW LOCAL UNION NO. 124EIN 43-1269910Plan #001PY 2022

305 E. 103RD TERRACE - KANSAS CITY, MO 64114816-943-0277

Other plans on this EIN

1 filing

#005Retirement-$118.4M assets

Prospect flagsLow returns

How to read this page

Total assets (EOY)

$327.9M

-8.2% from 2016

Total participants

3,483

+0.4% from 2016

Average account balance

$97,491

-9.1% from 2016

Annual return

-16.83%

-9.65 pp from 2016

Benchmarks

See 502 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort502 peers

Snapshot2022

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$447.18M

Not enough data

1 years with asset history on file

Average account balance

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

$121K

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.

3,692

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.

95.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$26.90M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+13.18%

Not enough data

1 years with return on file

Admin fee / account holder

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

$139

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
PRINCIPAL LIFE INSURANCE COMPANY8+ years Service code 13 · EIN 42-0127290	Contract Administrator	$200,331
LOCAL UNION 124 BENEFIT OFFICE3 years Service code 13 · EIN 43-1662293	Contract Administrator	$110,284
ARNOLD, NEWBOLD, SOLLARS & HOLLINS3 years Service code 29 · EIN 43-1174269	Legal	$89,101
THE SEGAL COMPANY5 years Filed as: SEGAL MARCO ADVISORS Service code 27 · EIN 13-2646110	Advisory (Plan)	$20,000
RUBINBROWN LLP8+ years Service code 10 · EIN 43-0765316	Accounting	$18,278

Plan features & details

Pension benefit codes2E2F2G2T

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
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.
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

1 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$445K

$131 / participant

Investment mgmt$20K4.5%
Contract admin$311K69.9%
Other / not subdivided$114K25.6%

% of EOY assets

0.136%

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: RUBINBROWN LLC
Auditor EIN: 730765316
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$97,491

$76,774+27.0%

$112,270-13.2%

$77,906+25.1%

Participation rate

96.5%

80.2%+16.3pp

75.1%+21.4pp

73.7%+22.8pp

Annual return

-16.83%

-10.25%-6.6pp

27.49%-44.3pp

12.16%-29.0pp

Employer contribution / active EE

$5,132

$3,977+29.1%

$3,635+41.2%

$2,846+80.3%

Participant deferral / active EE

$3,778-100.0%

$4,729-100.0%

$4,805-100.0%

Admin fee / account holder

$132

$239-44.7%

$6,411-97.9%

$133-0.3%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY8+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$200,331

LOCAL UNION 124 BENEFIT OFFICE3 years

Service code 13 · EIN 43-1662293

Contract Administrator

$110,284

ARNOLD, NEWBOLD, SOLLARS & HOLLINS3 years

Service code 29 · EIN 43-1174269

Legal

$89,101

THE SEGAL COMPANY5 years

Filed as: SEGAL MARCO ADVISORS

Service code 27 · EIN 13-2646110

Advisory (Plan)

$20,000

RUBINBROWN LLP8+ years

Service code 10 · EIN 43-0765316

Accounting

$18,278

I. B. E. W. LOCAL UNION NO. 124 ANNUITY PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

I. B. E. W. LOCAL UNION NO. 124 ANNUITY 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